A partnership has been announced by tZERO with media startup BLOQ FLIX. tZERO partners with entertainment financing company to tokenize films.
tZERO is the security token subsidiary of an American internet retailer, Overstock.com, Inc., and BLOQ FLIX is the first blockchain entertainment finance company.
The blockchain service company aims to provide technology services to tokenize BLOQ FLIX’s finance options for the entertainment business.
The firm said these offers will feature entertainment financing using the tokenization protocol technology of tZERO. For these offers, JumpStart Securities, LLC will act as the placement agent.
The blockchain technology through its collaboration with tZERO will now drive the entertainment funding capabilities of BLOQ FLIX.
According to the press release, BLOQ FLIX founders Brandon Hogan and Jonathan Helmuth jointly raised and managed over $100 million in manufacturing resources. And participated in more than 150 entertainment projects in different capacities.
tZERO CEO, Saum Noursalehi stated:
“We are thrilled to partner with the BLOQ FLIX team to bring a secure and innovative investment alternative to film financing. Our continued goal is to tokenize and trade assets that can benefit from blockchain technology, and digitizing film financing fits this model nicely.”
BLOQ FLIX CEO, Hogan, who has worked in the film industry for a quarter of a century, said:
“Hollywood’s entertainment finance structures need to evolve, and we want to lead this charge to disrupt traditional media financing. By embracing blockchain technology, we are streamlining the film and TV funding process. Also, offering funding access directly to mini-major studios, producers and experienced indie producers.”