Producers are hoping to raise up to $40m via an ICO, to tell the boom and bust story of Atari…
The founder of Atari, and the man regarded as the father of videogames, is Nolan Bushnell. He came up with the game Pong that was first released in 1975. From there, he built up Atari, which became one of the most notorious boom and bust stories of the 70s and early 1980s.
That story is now set to be told in a new film, that’s being part-overseen by actor Leonardo DiCaprio’s production company, Appian Way. What’s interesting about this in particular though is that a cryptocurrency is being launched to help cover the movie’s budget.
Vision Tree, the media company backing the venture, is launching what it’s called ‘Bushnell tokens’, with the aim of raising up to $40m through an ICO. As producer J D Seraphine told Variety, “while the film has received offers from conventional and studio-sourced financing, we have elected cryptocurrency funding to accelerate the filmmaking path in a whole new way, offering Atari fans the opportunity to share in the creation of this movie with us”.
The Bushnell tokens will thus be tied to the movie itself, with owners entitled to a share of its earnings. Furthermore, investors will be able to help with casting, and vote on the trailer.
“Blockchain technology and cryptocurrency financing will enable independent filmmakers and artists to not only create, but also own their projects that they can then grow over the span of their own career”, Seraphine added.
The film itself will be a biopic, rather than a documentary. It’s unclear as of yet who’s writing the movie, and beyond the producers, the identity of any key personnel involved.
No date has been announced for the ICO yet either, but a webpage for the project is live, here.