While the Gnosis crowdsale is going to start on April 24th, Ethereum Movie Venture (EMV) announced their sold out ICO/ITO which has started on March 20th. The project, which reached their funding target in the second-funding stage during the easter holidays had already accumulated funds from an early stage smart contract.
Ethereum Movie Venture is the platform that handles the world’s first Ethereum funded movie. The ICO was sold out after 3 weeks even though it was planned to last for 8 weeks. During the full-period of the token sale, the aKenEvilThing & blockchain.swisscoast.comteam raised more than 300000 USD in form of Ether, Bitcoin and Paypal payments. The EMV Token is being traded on two exchanges already and has reached a market cap of 1.8 MIO USD (right after the ICO was sold out) and is currently being traded on Ether.Delta and idex.market for around 0.0025 ETH.
The ERC-20 certified EMV Token being sold is used to redistribute 75% of the movies net profit in the next 20 years. In that way the token represents an ownership on the first Ethereum financed movie „ThePitts Circus Family“ will be a voting and funding instrument for future funded indie-projects which could bring a boost to Ethereum`s publicity.
One of the goal of the project is to bring the Ethereum Blockchain to mainstream consumers.The tool that is used is the low-budget independent movie that promises a large ROI in case of success. Consumers who want to watch the movie by pay per view need EMV Tokens to access the movie. During the ICO phase the team gave away some prizes on competitions (sponsored Ethercards and Trezor & Ledger wallets with ETH & EMV token) to attract attention on the social web. Furthermore they will give some of the partnership tokens to gatekeepers of the movie-industry during film the festivals in 2018. A few remaining EMV coins will be distributed to early bird ticket buyers to incentives the use of Ether and Ethereum tokens. Later on, consumers will have to use EMV tokens to view the movie online or vote on upcoming Ethereum based indie movie projects.
There is a strong development inside the Ethereum ecosystem. But what is more important is that the there is a growing Ethereum funded ecosystem of large and small projects all around the planet. Those Ethereum funded and based projects attract more and more attention to cryptocurrency. Ethereum Movie Venture was not the biggest ICO in the history of blockchain and it also not the fastest one. But it sure is a project with big ambition when it comes to shifting the adoption curve of innovation theory.