If you are a writer or enjoy quality entertainment that is not subject to the manipulations of large corporate movie studios this will interest you. please resteem / upvote.
7ype is a unique, forward thinking and innovative way for feature films to be financed by supporters and fans, which blends the best benefits of crowdfunding donations and avoids the pitfalls of film “investing”, whilst allowing supporters to share in the success of the films.
It uses an Ethereum based token called a “7ype coin” and smart contracts to allow honesty and transparency in how funds are spent, and to allow supporters to retain or increase value.
There are many films already on board to use the technology, including several that are near completion. Supporters can use 7ype coins to get their name in the credits, invites to premiere screenings, limited edition DVDs and Blu-rays. They can even get producer credits, or company production credits and logos attached to the films and trailers.
7ype coins are limited to a small pool which will never be increased, and films produced will have a steadily larger budget and more star power, so coins should increase in resale/trade value over time.
www.7ype.com is currently in it's ICO stage which is similar to an IPO. ICO's have just surpassed IPOs in the last 2 months as the lead in Angel Investing and traditional IPO investing. An ICO is an Inicial Coin Offering that is a Crypto Currency token similar to Bitcoin and will be used on Blockchain software and technology. It is transparent and self auditing. There are many reasons that this particular organization has chosen to move onto the blockchain.
Here is some more information on 7ype. If you are interested in buying some 7ype coins as part of the pre-sale period go to page 19 of their White Paper below.
WHITEPAPER: http://www.7ype.com/7ype%20ICO%20-%200_1%20Simplified%20White%20Paper.pdf
www.7ype.com
First of all you can get onto the free informational email by filling out the small form at the bottom left of the website. www.7ype.com
Tuesday is a big day for 7ype. They plan on launching the new web site and also are coming out with major announcements in partnerships. I have had personal emails with the CEO and he is very responsive if you have questions you can email Sam later once you received email updates from him which have been about once a week now.
Finally, a realistic ICO trying to raise a reasonable amount of ETH, a token with a real world application and products ready immediately upon launch!
Capped sale: Only 100,000 coins ever created.
50% of coins up for Initial Coin Offering.
Profits reinvested in to pot, enabling growth.
Honest, transparent, traceable use of funds.
Detailed, plain English white paper. No hyperbole.
Realistic, solid roadmap from industry expert team.
Founding member has nearly 20 years of industry experience.
Over 20 feature films already signed up to the service.
Tokens will be redeemable immediately after sale period.
PLEASE FOLLOW if you were the least bit amused or informed. The chances are, that I will become even more informative or at least, a little bit more amusing.
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THANK YOU
I am minimally invested in this ICO mainly because I thought it was interesting more than as a straight up investment. Had I been investing any large sum I would have done much more due diligence beforehand.
That having been said after reading the white paper one thing that stood out to me was that you can choose to invest your coin in a given movie and when that movie returns what they borrowed you get your coin back. I'm curious what happens to coins of the movies that flop. There are a lot of questions like this that I don't think are really addressed that well in the white paper.
It also concerns me a bit that the website was delayed in going up and still doesn't really function. Launching a web site seems WAY easier than producing a movie.
Ultimately I would love for it to succeed because I think it is a cool idea but to anyone planning a major investment make sure you do your homework first.
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I know he is a one man show at this time. I get his emails and he has been very busy sorting it all out. You brought up some good questions. You can reach Sam at [email protected] he is fast most days.
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Yeah, I will have to get in touch with him. I certainly wish him and all the investors the best.
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Nice concise breakdown for those not familiar with this particular ICO. I myself am invested and look forward to the projects growth.
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I got very excited when I found out about this ICO. I emailed the man behind it and got a lengthy, detailed response which really impressed me. Here is his IMDB bio for anyone interested in learning more about him: http://www.imdb.com/name/nm3570526/?ref_=tt_ov_dr
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great thank you.
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FYI he is extending the ICO one month.
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what is your current opinion concerning this ICO? the guy can't even build a good website for over three months and holding on to my precious funds. Do you think our investments are safe with 7ype?
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