Magic Mavo Studio, a Hong Kong-based entertainment production is set to launch its Initial Coin Offering (ICO) Crowdsale for MAVO Tokens starts November 6 2017 to build MAVO, a video playback platform that uses blockchain-based technology tied to new layers of smart contracts.
MAVO operates using MAVO Tokens (MVT) as utility tokens to bring filmmakers and producers, viewers and advertisers together in a bid to build a better model for the film industry. With MAVO, filmmakers will be able to exercise control over content rights for their own work, while being able to freely share their work on the MAVO platform.
MAVO is led by a team of highly experienced personalities from the global film industry including CEO and Founder Jack Lee, a film producer and former Vice President of Sparky Animation (Singapore) and Digibook SNDA (Shanghai), as well as acclaimed Hollywood producer Mario Kassar, well-known for producing iconic action-packed films such as Terminator and Rambo.
MAVO’s leadership team rounds out with Eric Yap, former Security & Infrastructure Architect at bitFlyer (world’s top cryptocurrency exchange), and Sandra Yap, a fintech entrepreneur and Hollywood actress and producer known for The Perfect Weapon, The Good Date and Savage Dog.
Jack Lee said, “MAVO is built on a solid foundation made up of a sound business model, a highly knowledgeable talent pool as well as an established and extensive network within the global film-making eco-system.
“The global film industry is also growing by leaps and bounds, with global film box office revenues targeted to reach almost US$50 billion by 2020. In terms of online streaming platforms, Netflix, the market leader, recently announced that it has surpassed 100 million subscribers.
“MAVO intends to not only capture a significant share of the traditional ‘box office’ and contemporary online streaming pies, but also shake-up the industry in a way that is more equitable for all participants. At the same time, MAVO can also inspire more creative, entertaining and innovative content that will benefit audiences worldwide,” Lee added.
Mario Kassar said, “The MAVO team is talented, full of energy and dynamic. I have full confidence in the team for fulfilling the aspirations of this dynamic platform.
“The film-making landscape today is changing rapidly, especially in the way films are produced and distributed. I am able to help MAVO succeed by leveraging on my network and connections to attract world-class actors and film-making talent, not only from Hollywood but also from the ever-vibrant Asian cinematic scene, to believe in this platform and support MAVO whole-heartedly,” Kassar concluded.
Built on blockchain-based technology, MAVO allows the audience to access a diverse range of content and support and reward filmmakers for their work by using MVT. In return, filmmakers can also reward the audience and advertisers via MVT for supporting their films. Additionally, advertisers who want to target a larger audience through online media can use MVT to exchange for advertising spots for exposure.