What Is Happening?
Planet Hollywood, a joint venture between Animoca Brands and Meta Hollywood has chosen SOMA Finance (SOMA) as the issuing partner for their upcoming digital securities ecosystem for tokenizing physical and digital assets. SOMA Finance is a joint venture between MANTRA DAO and Tritaurian Capital that is building the critical compliance infrastructure for decentralized finance (DeFi) and digital securities.
The agreement will allow Meta Hollywood to provide "Hollywood fans" with access to first-of-their-kind compliant securities for NFT issuance and trading in the United States. The partnership's first emphasis will be on giving the worldwide Web3 Community of Meta Hollywood the chance to participate in film finance and fractionalized ownership of high-end movie artifacts.
https://twitter.com/SOMA_finance/status/1549382235752910849?cxt=HHwWgsDS9ea7wYArAAAA
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What is SOMA Finance?
SOMA Finance (SOMA) is the first hybrid decentralized marketplace for digital assets, compliant digital securities and NFTs. The company claims to be the sole SEC and FINRA-approved license to provide tokenized securities on the blockchain via Tritaurian Capital.
SOMA is a fully compliant DEX and provides a suite of DeFi products for institutional and retail investors. The company aims to incorporate built-in KYC/AML and the ability to trade all types of digital assets, including crypto assets, digital securities and NFTs.
The SOMA tokens are working on filing and complying under US Reg D, Reg A+, and Reg S offerings enabling Yield Farming Opportunities, Dividends, Governance & Token Holder Rights, Buybacks & Burns and Staking.
Understanding What is The Significance of Meta Hollywood
The worldwide box office and home entertainment business was valued at $101 billion USD by the Motion Picture Association, according to a recent analysis and report by Forbes. This estimate tells us how big the movie industry is and why it has the possibility of being disrupted by NFTs and blockchain technology.
For instance, Meta Hollywood provides users access to a massive collection of over 60,000 movie memorabilia items. Hollywood IP and utility from Planet Hollywood and Animoca Brands' extensive partner network deliver Web3-enabled experiences and functionality by providing access to Hollywood events, pop culture, and artifacts.
One of the world's biggest private collections of movie memorabilia is kept by Planet Hollywood and at $5.9 billion in value, Animoca Brands is one of the world's most prominent blockchain gaming companies. The partnership between the brands may disrupt the traditional Hollywood industry.
By democratizing the entertainment landscape, Meta Hollywood enables movie enthusiasts and the larger consumer market to connect directly with movie makers and other short-form content providers through a branded digital experience. Using the native token, HWOOD, Meta Hollywood aspires to turn the classic Hollywood experience into a next-generation hybrid web3 ecosystem that benefits entertainment industry supporters and artists in online and offline mode.
Why Should You Care about Web3 and Hollywood Coming together?
Through a tokenized film finance offering, Hollywood can leverage blockchain technology to create a new filmmaking process with a Web3 philosophy, giving entertainment consumers unparalleled access and involvement in all facets of the business, from feedback on auditions to the screenplay and cast selection. This will also assist in cultivating creative potential by allowing community members to submit their work for a chance to be in each production.
For instance, SOMA.finance enables individual investors, producers and movie fans to participate in the next generation of entertainment in the Metaverse and related collectibles through NFT and token issuances in the future. The token issuance for funding a movie is a noble idea and can be an alternative means for new producers and movie directors to enter the much-closed industry. Further, SOMA can provide Meta Hollywood with the necessary level of protection for issuers, investors and consumers within the US regulatory framework. This allows for participation from stakeholders in a legally compliant, transparent and secure manner.
Final Thoughts on Regulated Defi and Creative Marketplace
The offering of regulatory-compliant digital securities to fund movies is going to open a new sea of opportunities in the Hollywood industry. In my opinion, SOMA has obtained SEC and FINRA clearance to market tokenized securities to its customers is a game changer and a primary reason for Meta Hollywood picking SOMA to distribute the digital securities to US investors. Naturally, this was not simple to get as the enterprise had to negotiate with the authorities for almost two and a half years. Nevertheless, this will open a whole new alternative financing industry for the Hollywood industry ~ one which we have never seen before!
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Image credits: Vincentas Liskauskas, Jake Blucker and Krists Luhaers.