The technology is evolving every day, it has become an important part of our daily lives. After penetrating at the elementary level, computers and digital assets are now becoming part of our daily lives in a more intrusive way. Similarly, Cryptocurrency is a new digital exchange or a virtual currency that uses cryptography techniques to make it secure.
It is a new medium of exchange that uses blockchain as a public financial transaction database. The decentralization aspect of the cryptocurrency is a major trust factor among the users.
Major Technology Enthusiasts and Investors are eagerly waiting for some Entertainment Cryptocurrencies to directly invest in the Movies, Shows and other digital media assets. There are several projects that are going to enable crypto investments. Everyone has their own entertainment cryptocurrencies that offer full transparency and have a full future layout. The idea is to bring more investments and gives fans an option to directly invest in their favorite projects. It is going to be a great opportunity for the filmmakers and the normal people also.
SM Entertainment of Japan is one of the companies which is planning to bring its own cryptocurrency for investments. The company’s director Joo Sang-sik announced the future plan aimed to engage users with the entertainment ecosystem. SM Entertainment is not new in the blockchain industry, they have launched Ko-Fun which was aimed to allow K-pop related Crypto transactions. The company is among the top business communities in Japan with over $600 million market capitalization. It was founded by Lee Soo-man in 1995.
Proxicom from Proxima Media of Ryan Kavanaugh is another entertainment cryptocurrency. The company is pouring efforts to list the Proxicoin on Ethereum based crypto exchange. The company is even signing a contract with Warner Brothers and other studios for rights to list over 600 titles via the Proxicoin. While speaking in an interview, Ryan Kavanaugh said, “Proxicoin removes those friction points while creating total transparency. We have put together a stellar team to implement what we believe will be a serious paradigm shift in the financing and marketing of films. We have top bankers with a deep understanding of the capital markets, content creators, operators, and brand experts.”
There are many other budding ideas, that makes entertainment cryptocurrency as a golden opportunity for investors in the upcoming time. The cryptocurrency easies global trade in various ways. These are more secure, fewer transaction fees, greater access to credit, individual ownership, and adaptability.