First-ever Media Token Gets $100 Million Investment

Proxicoin and the Central Wealth Group of Hong Kong announced today that the Central Wealth Investment Fund of Hong Kong and Step Ventures is investing $100 million into Proxicoin, a first of its kind security token.

Proxicoin, created and owned by Proxima Media, is a securities token built on the Ethereum platform which allows fractionalized ownership in film, television, music and other IP-driven content where every day qualified investors can, for the very first time, participate in the Hollywood industry in a capacity previously available only to large, elite institutions. 

“Blockchain technology is enabling new business models that unlock value in traditional industries like film financing. Global audiences can now participate as investors in tokenized offerings through a new asset class. Having worked closely with the management team to structure the offering, we are confident that Proxicoin will create unprecedented value by establishing a marketplace for global entertainment assets,” said Aman Johar, Principal at Proteum Capital, who has been an early advisor and consultant to Proxicoin.

The token has already signed a deal with the Fusang Exchange. Fusang is the first crypto exchange in Asia that trades security tokens. Proxicoin will be among the first security tokens to be listed and traded on their platform.

Source: Yahoo Finance