Film Financier, The Forest Road Company, Announces First of its Kind NFT Platform
The Company is expanding its creator-first approach with a new asset class, providing an NFT offering to help producers tap into an additional revenue stream
LOS ANGELES, March 30, 2021 /PRNewswire/ -- The Forest Road Company (FRC), a specialty finance provider of tax credit financing solutions, today announced it is expanding its financing platform and launching NFT (non-fungible token) capabilities to finance and monetize content for its ecosystem of 1,500+ film producers and leading entertainment partners. Alongside its investors, FRC is allocating an initial $20M to launch the platform, using the latest blockchain technology and furthering its mission of democratizing creators' access to capital.
Through its financing and distribution activity, FRC has worked to combat producers' historic struggle to efficiently finance and monetize content. Having successfully financed and / or distributed 550+ films since inception, the Company is well positioned to leverage its significant access to IP owners and turn new and existing IP into NFTs while increasing liquidity in the market. FRC will be the NFT investor, manufacturer, minter, and auctioneer, creating "IndieNFTs" with the same capabilities offered to studio partners, further supporting its one-stop shop offering for all filmmakers.
"NFTs represent a new way to leverage IP and connect with fans," said Saw creator and FRC board member Mark Burg. "Through the creation of this platform, there is a significant opportunity for filmmakers to source meaningful capital through this new revenue stream and deepen engagement with their audiences."
FRC is uniquely positioned at the center of the telecommunications, media and technology (TMT) landscape, working with the biggest brands in entertainment through its specialty finance platform and most recently its two corporate-sponsored SPAC vehicles. Across all verticals, FRC's mission is to democratize access to both capital and information so that clients and partners at every touchpoint of the business are better equipped to bring their vision to life, and can ultimately create a better experience for consumers.
"We are confident in our ability to replicate the success seen with music and art-based NFTs for film," said FRC CEO, Zachary Tarica. "Technology will continue to drive the evolution of the entertainment industry, and our team is at the forefront of using technology to shape the way filmmakers will do business moving forward."
FRC will tap into its network to identify owners of strong IP with built-in, loyal fan bases to launch their first NFTs, and audiences will have the chance to own these unique collectibles. There will be a limited number of NFTs per film, ranging from iconic scenes to never-before-seen posters or digital images. The NFTs will include to-be-announced unique physical attachments designed to reward devoted fans.
About Forest Road
The Forest Road Company is a vertically integrated specialty finance company catering to the entertainment industry, as well as a corporate SPAC sponsor focused on the technology, media, and telecom space. For more information, please visit www.forestroadco.com or reach out to us at [email protected].
Media Contact:
Jaclyn Fershtman
[email protected]
SOURCE The Forest Road Company
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