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Swiss production company creates first Ethereum-financed film - ‘The Pitts Circus’

The Swiss-based production company aKenEvilThing has created the first project ‘The Pitts Circus’, a horror-comedy movie that features circus fairy-tale, to be crowdfunded with Ethereum in order to increase the diffusion of Ethereum into the real world.

According to the website, aKenEvilThing has chosen  the hybrid legal setting that consists of an Ethereum crypto-based funding systems with Ethereum based funding and return on investment (ROI) system. The company stated that it will share 50% of its net benefit, including royalties from this movie and all the projects it undertakes for the next 20 years with the investors.

“With this decision, we reduce complexity and increase transparency. Instead of a smart contract, we would like to have an extremely solid contract. We focus on the some of the undisputed strong points of the Ethereum-blockchain and make it accessible to everyone,” the website stated.

Implementing a simple contract concept, the company has created an Ethereum account where users paying 10 ETH or multiple of 10 ETH are entitled to 1 share or multiple of 1 share with a total of 666 shares. Users can verify with a blockchain explorer like etherscan.io, etherchain.org or live.ether.camp.

There is no deadline for the crowdfunding and the shares are sold as long as it is available. Apart from Ethereum crowdfunding, the movie is also being supported by other sources like fiat-currency crowdfunding and other companies supporting with goods, services and marketing support.

The shooting of the movie will be set in remote western Australia and Switzerland with its production starting in early 2017. The Pitts Circus will feature acrobats, clowns, priest, devils kids and cannibals. The movie project has partners from across the globe including Scenic Swisscoast GmbH, a company that focuses on blockchain technology, gaming, and website creation.

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2017-09-22 21:05:48
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