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Hedley Productions announces crowdsale of Vulture Capital cryptocurrency to finance a feature film
Hedley Productions, a New York-based independent production company that uses Vulture Capital’s digital currency, has announced the launch of Ethereum-based crowdsale of VCAP cryptocurrency to finance a feature film titled ‘Listen Carefully’.
According to the official release, the crowdsale aims in spreading out the awareness of digital currency to people who watch the movie. The crowdsale proceeds will be used for the movie production.
“Film is the epitome of what we can create when artistry partners with technology. But as studios evolved into industries rather than pioneers, most of that innovation which inspired us as kids has ceased. With decentralization through cryptocurrency, we can be accountable to the audience again, produce fresher, wilder, smarter projects, and ironically, we’re certain the end result will be higher profit,” the Vulture Capital website stated.
The filming of the movie ‘Listen Carefully’ is expected to begin in fall this year and the release is scheduled for the summer next year. The movie’s production company expects to raise at least a part of the estimated budget of about $3.5 million to $5 million with the crowdsale.
‘Listen Carefully’ is a smart sexy comedy that pokes fun at corporate culture and consumerism. The movie features four girls who are fresh out of college and don’t want to start as interns, so they create a new idea that lets them make money on their own terms.
Vulture Capital is a cryptocurrency token built upon Ethereum and the VCAP cryptocurrency was created by Obsidian CryptoVault Technologies which is a New York-based cryptocurrency developer group. With bitcoins and Ethereum, investors can buy the VCAP digital currency on the website. The revenue generated after releasing the movie will go towards repaying VCAP token holders and other investors. After the stakeholders are compensated, the profits will be equally shared between the producers and VCAP holders.
“If we’re successful, we’d like to integrate cryptocurrency and VCAP holders more and more into the filmmaking process,” the website added.