Last week Bitcoin skyrocketed to an all-time high of over $11k, signifying the continued, rapid growth of cryptocurrencies. In their shadow is the underlying technology called blockchain, which acts as the decentralized ledgers that support cryptocurrencies.
Bloomberg recently released an article claiming that a prominent Hollywood producer and financier will launch a blockchain-based token called MovieCoin in early 2018. The sales from the ICO (initial coin offering) will be used to finance multiple movies. The coin's value will then appreciate based on the success of the films, and can then be traded in the secondary market. MovieCoin is claiming to be less volatile that other cryptocurrencies because it is backed by a tangible asset rather than only existing virtually.
MovieCoin seeks to democratize film financing in the same way many other industries are using the blockchain to neutralize the powers that be.