Meta Hollywood taps Soma.Finance to ‘tokenize’ film industry

Tokenization has found its way to the film industry, fundamentally changing how they operate from the ground up. 

Soma.Finance, a decentralized exchange for trading digital assets and compliant tokenized securities, is teaming up with Meta Hollywood, the largest virtual community for movie lovers, studios, and creators.

As Hollywood is joining the crypto hype, the alliance will see Soma.Finance selected as the issuing partner for Meta Hollywood’s upcoming ecosystem of digital securities spanning physical and digital assets.

From the production style to the inherent content itself, the collaboration covers the most niche activities and ideas in the industry, with lots of room to grow.

Meta Hollywood believes that SOMA.finance is well positioned to enable fan participation in film financing, as well as fractionalized ownership of blue-chip movie memorabilia. Indeed, it leverages SOMA’s regulatory compliant infrastructure to offer “Hollywood fanatics” in the United States and around the globe, access to compliant securities for both NFT issuance and trading.  

As a regulated multi-asset DEX & token issuance platform, SOMA.finance is capable of facilitating trading and listing crypto assets, tokenized equities, ETFs, STOs, NFTs, and various other DeFi services.

Listing compliant securities will also enable Meta Hollywood’s global Web3 community to enjoy many traditional benefits of DeFi applications, without violating securities law and regulations.

Meta Hollywood is a virtual community for movie lovers, studios, and creators, launched by Animoca Brands in partnership with the Planet Hollywood Group. This isn’t its first interaction with the blockchain space as the company also develops a virtual Hollywood-themed backlot movie studio in the metaverse, offering exclusive access and utility at the intersection of Hollywood and Web3. 

The partnership also caters to Meta Hollywood’s vision to host Hollywood-themed events and experiences in a Hollywood backlot studio format. 

“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.  

From one point of view, Meta Hollywood is moving towards tokenization to address a massive void in the film and entertainment industry. After all, it provides investors, actors, and directors access to movie-making investment opportunities — all of these are directly related to the tokenization experience.

Nowadays, several industries are shifting towards digital innovations and creativity to engage with their fan base. With that in mind, tapping into SOMA.finance’s know-how will allow Meta Hollywood to ultimately connect film enthusiasts with filmmakers and other talents in the industry. Moving on, the tokenization of movie production and the projects within the entertainment space will give an equal opportunity to the industry participants and regular crypto users alike.

Robert Tran, Co-founder of Meta Hollywood, further explains: “Through its tokenized film financing offering, Meta Hollywood intends to align the film-making process with a Web3 ideology, affording entertainment fans unprecedented access and participation across all aspects of the industry including input on auditions to script and cast selection.  This platform will also serve to foster creative talent, offering community members the opportunity to submit their work for the chance to be a part of each production.” 

 Will Corkin, Co-founder of SOMA.finance, added: “SOMA.finance ensures a clear and inclusive pathway for retail investors, creators, 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.”

 “Safe interaction between issuers, investors and consumers under the U.S. regulatory umbrella is the right protection SOMA.finance can offer Meta Hollywood. Fans of arts, culture and entertainment will depend on trust to enter the block-chain based assets, which we can build for Meta Hollywood,” said William B. Heyn, Co-founder at SOMA.finance, and CEO of Tritaurian Capital. 

SOMA.finance was founded as a joint venture between Hong Kong-based decentralized finance (DeFi) platform Mantra DAO and New York-based Tritaurian Holdings, which has a Financial Industry Regulatory Authority (FINRA) licensed broker-dealer subsidiary.

Proposed services include built-in know-your-customer (KYC) and anti-money laundering (AML) functions, digital asset trading and permissionless regulated automated market making (AMM).