Alibaba To Use Blockchain To Distribute Movie Rights
November 23, 2019
Alibaba To Use Blockchain To Distribute Movie Rights
November 23, 2019

Alibaba Pictures, the filmmaking arm of Alibaba Group reportedly plans to tokenize distribution rights for its new film “Striding into the Wind,”.

On Nov. 22, reported that the company signed an agreement with New York-based decentralized entertainment platform Breaker to distribute the film overseas using its blockchain platform.

The senior vice president of Alibaba Pictures and CEO of Alibaba’s ticketing app Taopiaopiao reportedly announced the news during the China Golden Rooster & Hundred Flowers Film Festival on Nov. 20.

Tokenization Could Transform Film Financing

Fim industry in China is considering the possibility of blockchain technology in its business models, with Alibaba Pictures actively trying to apply blockchain.

The overseas distribution rights for Alibaba’s “Striding into the Wind” will reportedly be released on Ethereum blockchain-based distribution portal EtherVision. According to the report, the film is the only Chinese mainland film project selected by SingularDTV, the founding platform of ‘Breaker’.

Tokenizing of movie ownership could radically change film financing as it is now generally limited to a small number of high-wealth investors. With tokenization, smaller investors could also benefit from a movie’s success.  

ALSO READ :  Thailand’s First Regulated ICO Portal Targets $98M Token Offering

Source: | Cointelegraph | Image: Pandaily


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

AXA To Offer Its Customers Pay With Bitcoin

AXA To Offer Its Customers Pay With Bitcoin

AXA, Europe’s second-largest insurance firm, has planned to offer its customers the option to pay their bills with Bitcoin (BTC) through a collaboration with the established cryptocurrency broker Bitcoin Suisse. It has...

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.