An Accessible Investment Token For Financing Cinema On Tezos
The purpose is to Is to allow investors who believe in the project to be rewarded with additional returns.
Do actors/producers receive Euros or KlapCoin? If Euros how is that converted?
The project leader who are mainly producers or director will receive euros to finance their movie.
In the long term we aim to be the reference entertainment currency.
Who owns the end productions? Royalties?
There are 2 main ways of working:
If we develop and resell the film this follows the classic process, the investor will have 90% of the net margin in KlapCoin.
And if we have co-production, we are the owner and so are the ticket holders.
Is Lux a utility token? Lux is a governance token.
Do you have any movie theatres on board? We are in discussion with big French or international production companies.
Will visitors to the cinema pay in klapCoin or euros? Yes in the future, it is the one of the goal but one step at the time.
Will you be interacting with the EURL Euro pegged stablecoin with the projects? Our project is in the real economy and the web3 revolution has not yet affected everyone in the sector. That’s why it was important to be backed by the euro to be able to pay them and also to bring stability to the project.
But the project is also very interesting and profitable for the investors thanks to the Lux, the staking programme and the return from the resale of the films developed.
Why do you need two coins?KlapCoin is our stable coin backed by euro DEPOSIT and held by the partner, the first French PSAN bank “Delubac & Cie”.
And we need a governance token to give opportunity to the community to vote and to be more involve in the project.
Are NFTs used in any areas of the project?Yes, the tickets that represent the share of KlapCoins held are equivalent to an NFT and can be resold on Tezos compatible platforms like Objkt.
Thanks to the exceptional technological support of our partners EXAION and TEZOS, we also created NFT Contracts, guarantees to the assignees of the acquired rights thanks to the Blockchain mechanism for any developed movies project.
The NFT becomes a balance sheet asset that can be freely transferred, shared or exchanged.
Why did you choose this method of funding rather than more traditional routes? Because we believe in web3 technologies and in our project, we use crypto through KlapCoin, but also the blockchain technology with our NFT contracts.
And we wanted to democratize the audio-visual financing project.
Is the KlapCoin ICO live now? Yes.
What is the current status of the ICO? Running.
What films/TV Series are in the pipeline? We have received more than 100 projects film/tv series and we have not launched any campaigns for these yet. 5 of them are very encouraging.
Will there be a particular films/tv series will be focussed on? Any films or tv series are for the public. One of our key word is diversity (format and type : comedy, action, thriller, fantasy, drama…)
Have any partnerships been formed? We are in discussion with some big production, but we can’t speak about it yet.
Why use Tezos instead of any other blockchains? Were other blockchains considered?The choice of the blockchain was very important for us. Tezos has:
Clean NFTs: 2 million times less energy-consuming than traditional blockchains.
Astonishingly low gas fees.
A democratic and scalable ecosystem for many users
Formal proofs and security.
A strong community of developers and researchers.
We have also created strong connections and a good relationship with Nomadic Labs (At Nomadic Labs, they are working on the core development, evolution, and adoption of the Tezos protocol in France, Luxembourg, and Belgium.
How are the holders engaged with the films being produced? Do they influence films at all? Of course, they influence films because thanks to the lux they can vote.
For example, the selection committee will be highly influenced if the majority of the community want to see more tv shows than movies.
As the project progresses, the DAO will gradually be put in place and the community will be increasingly involved in strategic choices.