GEORGE TOWN, Cayman Islands, Sept. 17, 2018 /CNW/ -- MovieCoin Services Inc., an affiliate of MovieCoin Holdings Inc., has announced the start of the presale for its Moviecoin Utility Tokens effective September 17. MovieCoin is a next-generation financial technology company that is leveraging blockchain technology and digital assets to revolutionize the film and entertainment industry.
With a hard cap of 10,000 BTC, the presale follows the conclusion of MovieCoin's private sale, which successfully reached the company's soft cap of 2,000 BTC. Two billion Moviecoin Utility Tokens will be distributed at 0.11 USD per token from the Cayman Islands. The Moviecoin Utility Tokens are not available for sale in the United States or Canada or to U.S. Persons or Canadian residents.
MovieCoin will accept Ethereum, Bitcoin and BKX tokens for the presale, with the minimum commitment set at 5 BTC or equivalent. Initial buyers of Moviecoin Utility Tokens will also receive up to 25 percent in bonuses. The presale will end on October 30 at 00:00 PST. MovieCoin is planning a separate offering of MovieCoin Smart Fund (“MSF”) Security Tokens to accredited investors pursuant to Regulation D of the United States Securities Act and National Instrument 45-106 - Prospectus Exemptions.
BKX tokens are issued by BANKEX, a top-20 global financial technology company that is developing MovieCoin's Proof-of-Asset Protocol. As a variation of the ERC-20 utility tokens attached to Ethereum's blockchain, BKX tokens will be accepted for the presale with an added five percent bonus rate.
Participants in the presale must complete the Know Your Customer (KYC) process, a standard verification process that prevents capital, or token equivalents, from being used for illicit activity such as money laundering. To participate, please register at www.movie.io.
Following the conclusion of the presale, MovieCoin plans to initiate the sale of tokens on November 1, 2018 with no minimum contribution required. The public token sale will end on November 25, 2018.
MovieCoin is a next-generation financial technology company focused on leveraging blockchain technology, digital assets and proprietary applications to become the leading entertainment settlement and transaction platform for businesses and consumers and the standard currency for funding motion pictures, television and other media.
The Company has operations spanning content finance and production, business and consumer services and technology development and licensing. MovieCoin's content finance and production businesses offer programmatic ownership of filmed entertainment assets to financial investors seeking institutionalized exposure to premium content, while its digital assets platform provides businesses with innovative solutions to streamline operations and entertainment enthusiasts with unique and more engaging ways to participate in the movie experience.
The Company was founded in 2017 by Christopher Woodrow in partnership with BANKEX and has offices in Vancouver, British Columbia and Santa Monica, California.
BANKEX is a global top-20 fintech company developing the Proof-of-Asset Protocol to bring Banking-as-a-Service (BaaS) product modules and blockchain together to enable digitization, tokenization and exchange of assets for the full development of a tokenized global ecosystem. Leading BANKEX technologies include the Proof-of-Asset Protocol for tokenization, Plasma Protocol, BANKEX Scan, Smart Justice, Trust Service, Pay, Bounty Service and the Solid Floating Point Library.
Prosek Partners on behalf of MovieCoin
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Forward Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that MovieCoin expects or anticipates will or may occur in the future, including such things as, the amount, size, timing and completion of the presale or any future offering or issuance of Moviecoin Utility Tokens or MovieCoin Smart Fund Security Tokens, any bonuses or bonus rates and other such matters are forward-looking statements and forward-looking information. The material factors and assumptions used to develop the forward-looking statements and forward-looking information contained in this press release include the following the terms and conditions of our agreements with contractors, MovieCoin’s business plans, the anticipated timing and completion of offerings, sales and presales; the anticipated development of the technology and the effectiveness and success of BANKEX executing on its business plans and commitment to MovieCoin, continued acceptance and development of regulations and laws related to blockchain technology and digital assets that supports business; and no change in laws that materially impact our business and any sales, presales or offerings of tokens. When used in this press release, the words “optimistic,” “potential,” “indicate,” “expect,” “intend,” “plans,” “hopes,” “believe,” “may,” “will,” “if,” “anticipate” and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MovieCoin to be materially different from any future results, performance or achievements expressed or implied by such statements. Although MovieCoin may identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. MovieCoin assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise