EXCLUSIVE: Glass House Distribution President Tom Malloy, bitcoin veteran Charlie Shrem and producer Shyam S. Sengupta are unveiling a new digital finance company, Defiine, here at the Cannes Market.
Described as a digital finance solution for independent films, the firm will seek to leverage assets and IP against crypto liquidity pools. The partners say that investors will be able to stake funds on the assets to earn “significant” annual percentage yields. Defiine also says it is collaborating with other companies that have made progress in the NFT and film space.
The company has completed two productions using the model (Ask Me To Dance and Trauma Therapy: Psychosis) and says it is also in development on several other projects, including upcoming crime drama Interstate 35.
During the market, Defiine will be looking for new projects in advanced stages of development, as well as crypto investors.
Shrem is one of the founding members of the Bitcoin Foundation and hosts crypto podcast UntoldStories; Malloy is CEO of Trick Candle Productions, and president of sales/distribution company Glass House Distribution as well as an actor, writer and producer; Sengupta (Telling Lies, Boondoggle) is a partner at CinemaWerks Entertainment and producer of films, television, and interactive.
Says Sengupta, “We noticed that integrating crypto and film seemed to be on everyone’s mind, yet the crypto companies didn’t seem to have connections to viable film assets, and the film companies didn’t have access to the gatekeepers of crypto. Defiine bridges that gap.”
Defiine is hosting an event in Cannes, timed to coincide with the blockchain and cryptocurrency conference CoinAgenda Europe 2022 that’s taking place in Monaco next week.
Defiine Aims To Bring Crypto Finance Solutions To Indie Film Space – Cannes Market