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Hollywood Producer Raises $100M For Media-focused Security Token

by coindesk.com posted 3weeks ago 17 views
Proxima Media, a firm founded by film producer Ryan Kavanaugh, has raised $100 million for a token that allows investment in media content. The new token, called Proxicoin, received the notable backing from VC firms Step Ventures and the Central Wealth Investment Fund of Hong Kong, Proxima announced Thursday. Proxicoin is built on the ethereum blockchain and allows fractional ownership of film, television, music and other IP-driven content even for small investors, according to the firm. The “fully audited” token is expected to be listed and traded on Asian cryptocurrency exchange Fusang through a deal that’s already been inked, Proxima said.

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