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LCX is Tokenizing Controversial “Roe V. Wade” Movie in a $5M Fund
Liechtenstein Cryptoassets Exchange (LCX) announced that it would tokenize the upcoming Roe v. Wade feature film produced, written, and directed by Nick Loeb and Cathy Allyn.
The movie is a political-legal drama based on the true story of America’s most controversial decision by the U.S. Supreme Court. According to director Loeb, the film focuses on “the women’s rights movement versus the pro-life movement.”
“It’s a social war movie where we take both sides of the argument and hopefully let the audience decide,” he added.
As an exclusive blockchain service partner, LCX will support the issuance of the “Roe v. Wade” film tokenize bond, represented by the RVW Token.
A $5M Tokenized Fund
The offering starts next month. Investors can purchase the tokens from a total of 5 million RVW tokens at a nominal price of $1 per token, placing the total net proceeds at $5 million.
According to the report, holders of the RVW tokens will profit from the movie’s future earnings. Fans or investors who purchase the tokens during the offering have the right to earn a fixed reward of 20% annually. In addition, they will receive repayments for their initial investment.
The returns and rewards are “backed by the future U.S. domestic gross proceeds received in connection with the picture.” However, both are subject to the terms and conditions provided in the token offering memorandum, the report said.
LCX is responsible for generating the smart contract for the token and managing wallets. It will also maintain the real-time Token Holder Registry.
“We are excited to work with Cathy Allyn and Nick Loeb as the exclusive technology provider to support the issuance of tokenized financial instruments backed by future proceeds of the movie,” said Monty C. M. Metzger, Founder and CEO of LCX.
As a registered and licensed exchange, LCX provides a secure and regulated launchpad for security tokenized offerings (STOs). As such, investors would be required to complete the mandatory KYC and AML requirements to participate in offerings.
Director Loeb believes LCX’s “vast blockchain capabilities” and high-level compliance put them in the perfect position to make the “Roe V. Wade” movie a huge success.
Meanwhile, this is not the first time LCX will be tokenizing a movie fund. In 2019, the exchange announced that it had partnered with the renowned Hollywood actor, Dr. Wesley Snipes, for a $25 million movie fund tokenization project.