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megaelijah57 · 5 years

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Ryan Kavanaugh's Proxicoin, the first safety Token allowing traders To put money into Studio exceptional movie And tv Slates, receives $a hundred Million USD investment From The critical Wealth investment Fund Of Hong Kong And Step Ventures

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HONG KONG, can also 23, 2019 /PRNewswire/ -- Proxicoin and the imperative Wealth organization of Hong Kong introduced these days that the significant Wealth funding Fund of Hong Kong and Step Ventures is investing $100 million USD into Proxicoin, a primary of its type safety token (STO).

Proxicoin, created and owned by means of Proxima Media, is a securities token constructed at the Ethereum platform which permits fractionalized possession in film, tv, song and different IP-pushed content wherein every day certified investors can, for the very first time, participate in the Hollywood industry in a capability previously to be had handiest to massive, elite establishments.

"Blockchain era is enabling new business fashions that liberate price in traditional industries like movie financing. worldwide audiences can now participate as traders in tokenized offerings via a new asset elegance. Having worked carefully with the management crew to shape the supplying, we are confident that Proxicoin will create extraordinary cost by way of organising a market for global enjoyment property," stated Aman Johar, essential at Proteum Capital, who has been an early advisor and representative to Proxicoin.

The token has been built and is fully audited and has already signed a deal with the Fusang alternate. Fusang is the first crypto trade in Asia that trades protection tokens and Proxicoin can be some of the first safety tokens to be listed and traded on their platform.

Proxicoin holders may also be partial proprietors of enjoyment stock X (ESX), an revolutionary platform working much like a stock change for financing entertainment initiatives. It makes use of law A of the roles Act permitting every movie or television display to undergo an IPO, presenting liquidity for every production via aftermarket buying and selling. ESX takes gain of the booming international call for for content whilst helping fill the want for new, green sources of financing for filmmakers. There are handiest fifty seven recognized trading systems global, making this a completely unique and noticeably sought-after asset. it will additionally benefit from the $1.6 billion USD, and growing, crowd-sourced film financing marketplace. Proxima has been working on constructing ESX for almost two years and expects to be stay before the quit of the 12 months. presently the buying and selling platform has offers for listings on over 30 main characteristic movie projects and is predicted to have a substantial percentage of the 600 predominant movies and television shows shot yearly.

"this is a sport-changing second for the amusement enterprise. Proxicoin makes a fantastically sought-after financial product available to many character and smaller buyers. film, as an asset magnificence, is traditionally uncorrelated to capital markets and has been a competitive and sought-after asset class a number of the big hedge funds and banks which include Citibank, Duetsche financial institution, JP Morgan, Goldman Sachs and lots of others. at some point of the wonderful depression one of the simplest stocks that went up turned into MGM," stated Vincent Tse, CEO of Step Ventures.

"we are inspired with the aid of the Proxicoin crew and their determination to developing cooperation and synergies between the China and Hollywood film industries," said David Lee of The important Wealth organization of Hong Kong. "we're looking ahead to reaping fulfillment from our investment in Proxicoin and their reputable leadership at the roadmap to developing amazing productions the usage of the brand new era. this is ideal for our LP traders to assist create a wide and rather shielding portfolio looking to create higher than marketplace returns."

"Proxicoin and this transaction dispose of among the hurdles that have held lower back boom between the two countries due to heavy restrictions in currency conversion. Proxicoin removes those friction factors whilst growing total transparency. we've got prepare a stellar team to put in force what we consider might be a critical paradigm shift within the financing and advertising of films. we have pinnacle bankers with a deep know-how of the capital markets, content material creators, operators and emblem experts. Having crucial Wealth investment Fund and Step VC as companions is a superexcellent validation for us that we are at the right track. There could not be better lead investors and companions," said Ryan Kavanaugh.

The the front end of the trading platform turned into constructed via a partnership with Hanzo, a Techstars funded AI marketing platform that has powered over $three hundred million USD in funding for some of the most a hit crowd sales in records. Zach Kelling, founder and CEO of Hanzo comes on board, via an special agreement, to steer development of the ESX trade platform.

The advisory and control team consists of Bonin Bough, Chairman of marketing and Branding; Eddie Ibanez, era and synthetic Intelligence consultant; Jaeson Ma, Co-Chairman of Asia content; Alex Zhang, Co-Chairman of Asia content material; Aman Johar, CEO of Proteum partners amongst many others.

Step Ventures is a Hong Kong-based assignment Capital employer whose consciousness is on investing in emerging technologies, corporations which create and sell modern technology and structures with entrepreneurs with ancient fulfillment of innovation and creation of paradigm shifts inside the generation and media industries.

The Hong Kong important Wealth institution is a publicly-traded, long-established and deeply reputable economic services organisation based in and serving China and Hong Kong. As a comprehensive economic offerings group enterprise, CWF provides 86f68e4d402306ad3cd330d005134dac services thru an experienced elite and purchaser-centered control group. CWF is a international, sound and efficient economic buying and selling platform for China, Hong Kong and Macau traders which gives new, 86f68e4d402306ad3cd330d005134dac and secure financial services.

Proxima Media changed into based by using mythical Hollywood producer Ryan Kavanaugh, who collectively along with his government group, have been accountable for extra than 200 films, with a field office of $17 billion. among their productions are Immortals, rapid and the furious, girl with Dragon Tattoo, Salt, desired, countless, The Fighter, replicate mirror, secure Haven, beyond the lighting; and The Social community, which acquired 8 Oscar nominations. different films consist of Mamma Mia! three:10 to Yuma, Grown united states of americaand dear John.

Proxicoin is owned and operated by Proxima Media founder, Ryan Kavanaugh. Proxicoin makes use of block chain technology to offer formerly untapped traders with the potential to participate in tokenized offerings for movie and television financing. Their business model aspires to generate higher marketplace returns with the aid of developing a area for the regular investor to attain worldwide audiences.

Mr. Kavanaugh is likewise credited with originating some of first-of-their-kind deals that changed the film enterprise, together with for marvel Studios, which led to the creation of the wonder Cinematic Universe, that has amassed greater than $17.five billion at the global box office. Mr. Kavanaugh accompanied-up that success with a primary of its type tv pay address Netflix and created what is nowadays known as the SVOD window for Netflix, which boosted Netflix's market capitalization to $10 billion USD. He became additionally commemorated with a 'Hollywood producer of the year' Award and turned into named by way of range as, 'Showman of the 12 months.'

Mr. Kavanaugh has a intensity of enjoy in China as he become instrumental in launching Sky Land entertainment, which entered into a historical partnership with Huaxia movie Distribution Co. Ltd. to deal with manufacturing and distribution of movies in China and the U.S. The deal marks the most effective strategic alliance up to now between a Hollywood movie production entity and a chinese language authorities-subsidized corporation. Mr. Kavanaugh's other terrific credits encompass what is now called impartial sports & enjoyment, an included sports, media, entertainment and control enterprise that represents three hundred of the quality athletes within the NBA, NFL and MLB, and is the second-largest included management employer inside the U.S. with approximately $2.five billion in participant contacts. He also created the powerhouse television business enterprise, now referred to as crucial content material, which produced hit suggests including Catfish on MTV and endless on CBS and underneath his tenure had over 40 series at the air.

enjoyment inventory X (ESX) is an modern aftermarket-buying and selling platform two years in the making. man or woman film or tv initiatives will adopt an IPO to accept liquidity and be easily traded with transparency, presenting an efficient road for filmmakers in search of financing for the growing call for for brand spanking new content material. ESX presently has deals for listings on over 30 principal characteristic film initiatives and is expected to have a huge share of the 600 essential films and tv suggests shot annually. ESX is anticipated to release via the give up of 2019 ryan kavanaugh.

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njawaidofficial · 7 years

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Why KevJumba Disappeared: Inside the YouTube Star's Departure

http://styleveryday.com/2017/08/30/why-kevjumba-disappeared-inside-the-youtube-stars-departure/

Why KevJumba Disappeared: Inside the YouTube Star's Departure

The Asian-American teen vlogger was one of the platform’s first breakouts to earn Hollywood cred — starring in a Scorsese-produced feature — until he suddenly went offline in 2014, leaving his fans and the industry in the dark.

Kevin Wu wants to set something straight: “I’m not in a cult,” he says with a laugh.

Since going dark on social media in 2014, the YouTube phenom formerly known as KevJumba, who once seemed to have Hollywood in the palm of his hand, has become a mythical phantom to the digital generation that made him a star. Occasional Instagram posts by fans offered glimpses of him on college campuses wearing plain white tunics and handing out Buddhist tracts, which only added to the mystique. Now, in a rare interview, Wu, 27, offers new insight into his disappearance.

KevJumba was one of YouTube’s first stars. He joined the year-old platform in 2006, had a video featured on its homepage in 2007 and by 2008 had its No. 3 most subscribed channel. The Houston native’s self-deprecating vlogs about the indignities of being an Asian-American teen generated more than 300 million views and led to collaborations with Jessica Alba and Jeremy Lin. With his father, a frequent guest in his videos, Wu competed on The Amazing Race in 2010 (five years before the Emmy-winning reality competition’s all-social media stunt cast season).

By then Wu was a sophomore at UC Davis; he dropped out and moved to Los Angeles to live and make videos full-time with other top YouTubers including Ryan Higa and Dominic “D-Trix” Sandoval. “We were catching a feeling and we all felt like we were riding this wave, so we all just took that leap,” Wu tells THR. In 2011 he signed with CAA, which brought him to New York for its 2013 NewFront presentation, where he pitched brand partnership opportunities on five different series in development to a roomful of media buyers.

Wu was firmly a contender to become the elusive digital-to-traditional media crossover star, landing the co-lead in Chinatown crime drama Revenge of the Green Dragons — a real movie, executive produced by Martin Scorsese. “Two years before, I’m sitting in my bedroom with a camera, and the next moment I’m in a trailer with someone doing my hair and makeup and PAs asking if I want any water,” he recalls.

“He had everything that you intrinsically needed to be a star,” says Justin Chon, his Revenge co-star. “He has this everyman vibe, and I thought if he honed the craft, he could really be accepted by the masses.” His manager, Jaeson Ma, agrees: “Of the YouTube generation, Kevin had the most natural raw talent. He had intuition, and he had range.”

CAA set Wu up with acting coaches, auditions and meetings with noteworthy producers, including one who began developing a TV comedy based on his relationship with his family. There were talks with content producers both traditional (Cartoon Network) and digital (Xbox Entertainment Studios, which shuttered in 2014). Brands paid him five figures for three-minute videos, and combined with his other revenue from YouTube views and touring, Wu bought a loft downtown. “Not having to worry about money at such a young age was more than a privilege,” Wu says, but adds that the artistic freedom that came with his cachet was even more important.

“People were willing to put money into projects he wanted to make,” agrees Chon. “He was basically living Entourage. He was getting invited to parties; the industry wanted to meet him.”

But by the time Revenge premiered at Toronto in 2014, Wu was starting to withdraw both online and offline. He made his wildly popular YouTube channel private, after not posting any new videos for about a year. To hear him tell it, he wanted to focus his resources on feature films. “I didn’t see YouTube as my end goal,” he says, pointing to Donald Glover, who earned a cult following in online sketches but hopped off YouTube before the platform could define him. “I always knew that this internet popularity would maybe come and go. Maybe I got tired of watching myself talking into the camera — I didn’t see that format as something very sustainable.”

He also was embarking on a search for purpose. In March 2015 he was invited to audition for Netflix’s Master of None (as Aziz Ansari’s Taiwanese-American best friend, the proxy for co-creator Alan Yang), but he passed. With all the different revenue streams available to him, Wu was easily poised to make millions, say Ma and other insiders familiar with his career. “He was turning down opportunities that could have been life-changing,” says Chon, “but that was when he sort of went down the rabbit hole.”

“I felt like I was missing things in my personal growth,” Wu explains. “I was able to make a large number of people laugh or connect to what I was saying, but my personality became very dependent on what my viewers thought of me. You get caught when you’re so young and haven’t experienced the wide range of life and reached a point of adulthood where you can see things more objectively.” He enrolled at Santa Monica College and began pursuing spirituality in earnest, attending a Bible study with Lin (then playing for the Lakers) and serving at a Hare Krishna temple on the Westside. The plan was to return to social media with a more enlightened perspective in a few years.

“I had seen both materialism and spirituality and didn’t necessarily think one was better than the other,” Wu says. “I had the intention of coming back to the audience that grew up with me to help people find personal growth: How can we live on this earth and still hold on to our values?”

But his plans fell apart in June 2015, when he was struck by a car in L.A. while he was walking, says Wu. The near-fatal crash broke his spine, collapsed his lungs and shattered his spirit. Initially, he was determined to power through it. “I’m still going to go to school after I get out of the hospital,” he told himself then. “I’ve got to get on with my real life.” But his organs were failing and he’d eventually have two major surgeries to address the damage.

There were psychological injuries, too. “I was slowly losing the ability to gauge where I was,” says Wu. “My mood started to swing because every time they found something wrong with my body, I was trying to downplay it.” He eventually was assessed as a hazard to himself and spent 17 days at a behavioral health facility following his monthlong hospitalization. Wu speaks of that time carefully, still grappling with the physical and mental trauma.

The accident left Wu unable to continue school or do anything else but focus on his recovery. He moved back in with this parents in Houston after he was discharged. “Hopefully people will just forget about me and I’ll just be shrouded in mystery or whatever. I’m in too much pain,” he says of his mindset during that period. “I was ready to accept that as my life.”

His father nursed him back from the edge. “I give a lot of credit to my dad because he took me back home and took care of me to the best of his ability,” Wu says, “and when he felt like he couldn’t connect with me on certain spiritual issues, he took me to see his shifu” — the Chinese word for master. In the Wus’ case, their shifu was a Buddhist nun. Though he’s reluctant to put a label on his beliefs, most of Wu’s rare appearances now are affiliated with Buddhist organizations or include references to various Eastern religious figures.

Wu resurfaced in March, restoring his YouTube channel to the public setting. The move was timed to coincide with Youth Represent the World, a March 11 show directed by Wu and presented by the Asian-American entertainment organization Kollaboration, the city of Stafford and the Buddha’s Light International Association. Wu’s three-year absence had not diminished his fanbase — a sold-out crowd packed the 1,154-seat Stafford Centre in Houston to watch Wu onstage again, where he performed stand-up along with a non-comedic parody of Kanye West’s “Power,” rapping, “No one man should have internet power.”

“There’s a responsibility that comes with this, and it’s so accessible to young people,” says Wu, who maintains a tentative relationship with social media, privatizing posts shortly after publishing them. “Being young and naive and having fame and fortune and power at a young age can take you away from the right path.”

Wu, who once raised $50,000 on his 21st birthday to build a secondary school in Nairobi through the education nonprofit The Supply, believes that his path still involves using his platform to make a public impact. “From the moment I got featured on the homepage of YouTube and earned half a million views overnight, I’ve become a public servant,” he says, crediting his shifu for encouraging him to re-engage with society.

But he wants to plot his return carefully. He applied for and was accepted to multiple acting conservatories in New York, including the American Academy of Dramatic Arts and the New York Film Academy, and is planning a trip to visit the campuses soon. One reason for acting school is to see if his body can take it. “Moving away from home is a test of faith because I do really like the community I’ve established here,” says Wu, noting that he currently sees four different doctors in Houston, including a pain management specialist who told him that he may have to live with chronic pain as a result of nerve damage from his spinal injuries. “But I need to relearn how to act.”

The other reason is because Wu recognizes that he leapfrogged a lot of steps in his first unexpected entree into fame and fortune. “Even though there’s really no right way, being a YouTube star and having power is not the conventional approach for getting into the acting industry,” he says. “This is my way of saying that if I’m going to approach acting seriously, I’m not going to rush it. The fact is that I went through a very traumatic incident and I still want to pursue my dreams.”

Hollywood loves a comeback, and industry insiders who were close to Wu say that there is still room for him in the business. “He has the passion, the charisma and the intelligence to be a brilliant performer,” says Ma. Adds Chon, “I always thought that he didn’t even need YouTube. Talent-wise, I have no doubt. He’s still young and there’s plenty of time for him to retool and rebuild his career. The question is whether he can sustain it for the long haul and be mentally healthy. If he were to come back, we’re all here to welcome him with open arms.”

A version of this story first appeared in the Aug. 23 issue of The Hollywood Reporter magazine. To receive the magazine, click here to subscribe.

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