tZERO, a subsidiary of Overstock.com and a leading financial technology company working in the security token space has announced that it has entered a partnership with the producers of the upcoming movie “Atari: Fistful of Quarters” to tokenize the first major theatrical motion picture.
The movie is being produced by Leonardo DiCaprio’s production company, Appian Way, as well as Benjamin Gerry and J.D. Seraphine of Vision Tree.
Aim of tZERO and Atari Partnership
This will be the first time in the film industry where someone is going to leverage the power of blockchain technology, marking yet another milestone towards tZERO’s goal of revolutionizing the capital markets. tZERO is going to develop the Bushnell token which will be sold by the film production and financing company, Vision Tree.
The new biopic is centered on a pioneering figure in the video game industry, Nolan Bushnell, who went from repairing broken pinball machines to launching the video game manufacturer Atari in the 1970s. The film’s unique approach to funding is reflective of Bushnell’s groundbreaking and innovative career.
Vision Tree has previously announced in March 2018 that it is planning to raise as much as $40 million with the sale of the Bushnell token. Bushnell token owners will get several benefits in addition to receiving shares of movie earnings, they will also play an interactive role in the film’s development. Token owners have received additional benefits such as being able to vote on the movie’s trailer and even have a say in choosing the movie cast.
Patrick M. Byrne, Director & CEO of Overstock stated “We have been looking for the team to crack the code for Hollywood and bring much needed transparency and accountability to an industry that has been historically resistant to change. This is going to be extremely impressive and we are thrilled to bring tZERO tech to the movie industry.”
Benjamin Gerry, founder of Vision Tree, added, “It has been a long process to find the right partner to tokenize the Atari movie and to blaze a new trail for other media projects to follow. After looking closely at every major company in the space, we are thrilled to collaborate with tZERO on this exciting endeavor.”