Cork Films is proud to partner with BlockFilm Inc., a new producer-driven and Canadian-based platform, and the most secure decentralized film financing platform on the market today.
In March 2021, BlockFilm obtained a world-first, trailblazing exemption order from the Ontario Securities Commission (OSC) to launch ‘tokenized’ production financing opportunities for the content creation industry by leveraging TokenFunder, Canada’s first regulated digital securities issuance and trading platform. The decision follows a rigorous process conducted by the OSC’s Launchpad team and helps investors in content production avoid multiple-year waits before monetizing their investment, and gives producers access to wider pools of investment.
The decision allows BlockFilm to bring Cork Films’ Founder Emily Corcoran together with accredited investors to finance her latest production, feature comedy ‘She’s Got Balls’, where a moneyless, middle-aged married mother-of-two can no longer find work as an actress. She makes the desperate decision to disguise herself and audition as a man – and gets the role…
The TokenFunder platform supports the creation of compliant digital financial instruments (security tokens) to fund and support project budgets. The security tokens, (covering equity, debt and/or revenue share methods of financing) represent the underlying fractionalized ownership or debt instruments that provide content producers with unprecedented and efficient access to new sources of private capital.
“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,” says Pauline Couture, Co-CEO of BlockFilm. “The BlockFilm solution for producers and investors, powered by TokenFunder, is unmatched today and shows true global leadership from the OSC.”
Co-CEOs Pauline Couture and Suzette Couture, veteran Canadians in the television and movie industries in North America, see BlockFilm as the answer to the profound and longstanding industry need for far less complex, faster and more secure financing of projects, so that they get to market earlier and provide investors more liquidity throughout the project development stages.
“BlockFilm is conceived and designed to support an immense need among producers to access new sources of financing,” says 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.”
A bright future for content producers
The BlockFilm/TokenFunder partnership will, in the future, allow content producers to issue rewards to their fans and investors in the form of tokens, NFTs and more, that can be collected or redeemed for film and production industry experiences and more. Eventually, members of the public will be able to offer support to content producers through direct donations. Fans, known as “champions”, will also be able to earn rewards for supporting projects through their personal social media channels.
BlockFilm is designed to showcase projects of every genre and format while promoting content with social impact causes at their heart, so that investors can connect to ‘stories that matter’ and leverage their investing power as a way of engaging in causes they want to support. Those projects will ignite the passions of fans and communities on key topics such as: the environment and sustainability; human rights; Indigenous Peoples; LGBTQIA2S+ people; People of Colour; social and political issues; and women and gender issues.
Image by Jeremy Yap on Unsplash
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