British movie set to create history
'Powder's Peckham' is set to become the world's first movie powered by a virtual currency.
A pioneering British movie is set to become the world's first film powered by a virtual currency.
'Powder's Peckham', a reality-style movie currently being shot in south London, is to offer a 25 percent profit share in the film using 25 billion 'Kevcoin', which is named after the sci-fi adventure's lead character Kevin Powder.
The idea is the brainchild of comedian and director Jason Attar, who said: "This has never been done before. Independent films have such a difficult time reaching an audience, so we thought this could be a good way of building up that audience from the beginning, having advocates talk about it and ultimately share in its potential success.
"For instance when people buy tickets to come and see the movie, they will receive one million Kevcoin - worth around 60p but increasing/decreasing depending on the success of the movie - giving them a small but active stake in its commercial
It has been confirmed that everyone who appears in the film, as well as those buying a ticket to see it at the cinema, will receive a Kevcoin.
What's more, the online currency can be purchased by those looking to invest in the project.
Jason added: "The coin will exist forever and once the film recoups its initial costs of £25,000, 25 percent of the profits will be shared among those holding Kevcoin. The payment will be made to the person's public wallet address in Bitcoin."