BlockFilm Gets Greenlight to Finance Films Via TokenFunder
BlockFilm, a Canada-based financing platform, is bringing private investors and content creators together via a safe financing online platform using digital security tokens, the company announced today.
Digital security tokens using blockchains to connect private investors with content creators are something fairly new that has been used in real estate, for example, says Pauline Couture, co-CEO of BlockFilm. Together with Suzette Couture, no relation, she set up the global platform that they started working on in 2019 with backing from the Canada Media Fund. Pauline is based in Toronto while Suzette (“Avonlea,” “Conspiracy of Silence”) is headquartered in Los Angeles. Film producer Charlotte Mickie is also part of the company.
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“We have a reputation of playing well with others,” Pauline Couture said. “Everyone has financing issues in indie films.”
BlockFilm offers private investors a place to put their money and gets indie filmmakers financing, with the idea of getting passion projects to completion faster. The bonus is that investors can resell if they want to get out. “The emerging secondary market is completely new,” she said. “One of the challenges we have is the educational hump to overcome. It’s so new. Our biggest challenge is getting people to understand it.”
“BlockFilm is conceived and designed to support an immense need among producers to access new sources of financing,” said Suzette Couture, co-CEO and chair of BlockFilm’s board. “Content producers in Canada and around the world will greatly benefit from our groundbreaking new platform, powered by our partnership with TokenFunder, as they connect to a global community of investors and champions that can now discover and invest in their work.”
Among the film and TV creators they are working with are Roland Joffe, J. Todd Harris, Damon D’Oliveira, Mary Young Leckie and Ina Fichman.
BlockFilm received the Ontario Securities Commission’s exemption order allowing it to leverage TokenFunder as a trading platform.
“We’re excited about this partnership with TokenFunder. Backed by blockchain integrity, security and transparency, we are responding to challenges our industry has faced for decades,” Pauline Couture said. “The BlockFilm solution for producers and investors, powered by TokenFunder, is unmatched today and shows true global leadership from the OSC. BlockFilm will be transformational for both content producers and investors.”
Wendy Bernfeld and RoseMarie Couture from BlockFilm will attend the Cannes Film Festival virtually while Mickie will be attending, although on behalf of her Celluloid Dreams.
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