SOMA Finance, LLC, a hybrid decentralized marketplace for digital assets building infrastructure for compliant decentralized finance (DeFi) products, is collaborating with Meta Hollywood, a joint venture created by Planet Hollywood and Animoca Brands, to enable fan participation in film financing and fractionalized ownership of blue-chip movie memorabilia. SOMA Finance joins the partnership as an issuance partner for Meta Hollywood’s upcoming ecosystem of digital securities including physical and digital assets.
Planet Hollywood owns one of the world’s largest privately held collections of movie memorabilia, with fans having the chance to win physical memorabilia from iconic movie franchises including Star Wars and Die Hard. The partnership opens up a channel for users to access these assets via the first-of-its-kind compliant securities for NFT issuance and trading. This will allow Meta Hollywood to offer Hollywood “fanatics” access to its assets, whether in the United States or around the globe.
“Through its partnership with SOMA, Meta Hollywood will be able to offer its community the exclusive opportunity to own some of the most iconic movie memorabilia in Hollywood history including input on future memorabilia acquisitions from Marvel Comics, DC Comics, Star Wars, and other blockbuster franchises,” said Robert Earl, Co-founder of Meta Hollywood.
SOMA Finance, a joint venture between MANTRA DAO and Tritaurian Capital, Incorporated, aims to build a hybrid decentralised marketplace for digital assets, compliant digital securities, and NFTs. The team aims to build out a fully compliant DEX for retail and institutional investors, in a bid to keep up with the regulators. The platform includes built-in KYC/AML, a permissionless regulated automated market maker (AMM), and a wide range of tradable assets including crypto, NFTs and other digital securities.
“SOMA.finance ensures a clear and inclusive pathway for retail investors, creators, and movie-lovers to take part in the next evolution of entertainment in the Metaverse and associated memorabilia via NFT and token issuances in the future,” said Will Corkin, Co-founder of SOMA.finance.
Meta Hollywood’s assets will be the latest class of assets to be added, and SOMA will ensure safe interaction between issuers, investors and consumers under the U.S. regulatory umbrella.
“Fans of arts, culture and entertainment will depend on trust to enter the blockchain-based assets, which we can build for Meta Hollywood,” said William B. Heyn, Co-founder, SOMA.finance, and CEO of Tritaurian Capital.
Meta Hollywood provides a community-first ecosystem for entertainment fans and creators, introducing Web3 to the Hollywood scene. The platform aims to democratize the entertainment universe, empowering movie lovers and the broader consumer market to directly interact with movie producers and other short-form content creators through a branded digital experience.
“Web3 communities have heralded a cultural shift in consumer behaviour and the expectations of their relationships with brands – from the audience to community members, customers to stakeholders,” said Robert Tran, Co-founder of Meta Hollywood.
Meta Hollywood tokenizes film financing, allowing fans and movie lovers to creatively and actively participate in films. This aligns the filmmaking process with a Web3 ideology, which “affords entertainment fans unprecedented access and participation across all aspects of the industry including input on auditions to script and cast selection,” Tran added. Notwithstanding, the platform will mentor and foster creative talent, offering its community members the opportunity to submit their work for the chance to be a part of each production.
Finally, boasting of the first fully U.S.-compliant, global multi-asset DEX, SOMA Finance plans to list more assets in the near future. According to the team, SOMA Finance is planning to offer the ability to list Regulation CF, Regulation D, Regulation S, and Regulation A offerings. This adds to the compliant trading and issuance of tokenized assets including equities, crypto, STOs, and NFTs.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
Source: https://cryptodaily.co.uk/2022/07/the-worlds-first-compliant-dex-selected-by-meta-hollywood-to-enable-fan-participation-in-film-financing