Fund a Feature Film Within the Steemit Ecosystem

Funding is always difficult but funding within Steemit could be a lot easier if we could create a token. @ned spoke about a 'Steemit Community Token' a month ago. I'm not sure what a 'community token' entails but I would like to hear more about it.

Therefore, here's a funding scenario for us to work on to determine it's viability. The assumptions and example look like this.

  1. Investors exchange Steem tokens for a pro-rated ownership share of 50% of the Film's net receipts.

  2. If 500,000 Steem tokens are presented in total and you presented 10,000, your share prorated is 2% of 50% of the net receipts.

  3. If the film returns $5,000,000 net receipts, the Producer buys Steem with 50% of net receipts.

  4. If the value of the Steem token at time of distribution is the same as on investment (assume two dollar) you will receive...

  5. If the Steem token has a higher value at time of distribution, fewer Steem tokens distributed but worth more each.

  6. If the Steem token has a lower value at time of distribution, more Steem tokens distributed but worth less each.

  7. If the Steem token has a higher value at time of distribution, fewer Steem tokens but worth more each.

"$2,500,000 (50% of Net Receipts) buys 1,250,000 Steem tokens @ $2.00 then distributes to you 2% or 25,000 Steem tokens."

Rhodesy

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I've been looking into ways to use Steemit to help authors and filmmakers. I think it's possible, Have you looked into the way that minnowbooster does investments; people invest and people get returns.

Do not know what 'minnowbooster' is doing. However, there are a number of safe ways to monetize a project on Steemit. Unfortunately if you are talking about speculative investments offering a return, you could very likely run into deep trouble with the SEC (Security Exchange Commission). Once people start losing money, the shite hits the fan. For what it's worth.

I like the idea of the steemit community funding a feature film. I'm not sure how soon any steemit community token is coming along, but there is a way to create tokens on other platforms.

Several projects use Bitshares to create User Issued Assets including @Zappl @yoyow and @mrwang. A Steemian who knows all about this process is @VirtualGrowth. Bitshares was created by @Dan who also co-founded Steemit.

Then there is Etherium which implements Assets with Smart Contracts on their platform. Looking at your list of token specs, I see "If" a few times. That sounds like the kind of thing a Smart Contract can automatically enforce.

@Dan has a new project that has already raised Millions in it's ongoing ICO called EOS. This is similar to Etherium but faster and capable of more transactions per minute. It also does Assets with Smart Contracts but there is no announcement yet as to when the platform will be usable.

Just some random thoughts on your Feature Film Funding idea. I hope it can become a reality. Wishing you all the best and thanks for this post!

A film call 'Braid' used an Ethereum token recently to raise $1.7M for their film.

Brian, would love to participate.. but only for small amount to support the idea and project.. unfortunately my crypto adventues is not a real success until now... so I only use what i can miss

Thank you. I'm following you now.

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