The entertainment market is a Multi-Trillion dollar juggernaut. There are quite a few blockchain projects that seek to address some aspect of the entertainment industry. BFX is the first crypto which address all aspects of entertainment industry. Using most secured blockchain technology, BFX decentralizes the world of entertainment, ruled today by powerful agents and corporations. BFX Cryptoworks Ltd. is a global firm leading the International financial system integration, established in February 2015 by virtual currency experts.
BFX coin is a digital asset that can be exchanged for entertainment products and services and converted into any fiat currency. It was introduced via an initial coin offering (ICO) in November of 2017 that raised $10 million. Money from the ICO was used in part to produce a film called ‘Screwdriver’ slated for release this summer.
First Crypto with an Asset Base of Over $30 Million
BFX is the first entertainment industry cryptocurrency with an asset base of more than $30 million. 8 Million square yards of land bank in India giving it an asset value of USD 50 Million. The BFX is inspired & backs up ‘Bluefox Motion Pictures’, a film house that turned over more than $50 million through the production of 12 film projects & numerous smaller assignments over the last two and half years only.
BFX is also expanding the markets and including mining activities by building it’s own 5 Megawatt farm in Tbilisi, Georgia. In building out the BFX blockchain, the team of expert developers added enhancements to the bitcoin protocol, including faster transaction speeds, most secure script algorithm with a block size of 8 MB. BFX ICO has approx 50 thousands live users, and growing with 15-20 thousands new registrations. Also there are approx 5 to 6 thousands active traders keen to trade on New Exchanges where BFX is supposed to list by 2nd or 3rd week of June 2018.
Fund Uses & Pipeline Projects
The amount raised through the ICO has been used to produce movies like ‘The Uninvited Guest’, an award-winning Spanish film to be a re-made in two languages English and Hindi. The project will be shot in the U.K. and Georgia in August, 2018. Also Blue Fox Movies through the BFX funds generated by the BFX ICO has invested in ‘Sohail Khan Production’, one of the prominent production houses in the Indian film industry.
The total supply of BFX is capped at one billion coins. As a cryptocurrency, BFX coin’s transactions are securely processed on a decentralized computer network, eliminating the need for traditional financial services and payment processors like PayPal.
BFX is Going to be Listed on Top Exchanges in June 2018
BFX is going to be listed on top exchanges around the world by June 2018 and will be available for traders who are keen to trade on new exchanges. To get latest updates & trends about BFX, please visit their website www.bfxworld.com
There is no denying the fact that the current prices of Bitcoin and Ethereum are driven by pure speculation with no fundamental arguments to back them up. However, with the introduction of “asset-backed cryptocurrencies like BFX”, the perception could change thereby providing the market with a new lease on life.