Braid, the psychological thriller and horror movie, which is the first US feature film to be financed through an equity crowdsale using Ethereum, has announced that it will commence its campaign for the token launch from June 7th.
Braid is directed by Mitzi Peirone and it has partnered with blockchain company ConsenSys, and will be utilizing its award-winning crowdfunding platform WeiFund to raise the capital required to produce the film beginning on June 7th.
The Braid crowdsale will enable and incentivize numerous people e to become investors and promoters of the film. The movie team is seeking to raise a minimum of $1.4 million and maximum of $2.1 million worth of Ether in exchange for 30% of the future profits of the film.
“Token holders will have the first rights to any revenue generated by the project with 15% interest before any profits are taken by the production team. After contributors to the sale are made whole, the remaining profits of the film will be divided 70/30, with 30% of the net profits being proportionally distributed to token holders,” the release stated.
Non-US residents are eligible to participate for the token launch that is starting on June 7th.
