Avalanche secures partnership with Pressman Film and investment platform Republic

• Avalanche has announced its latest partnership with independent production company Pressman Film.
• The partnership is geared towards raising funds for film production by leveraging blockchain technology.
• With Avalanche, Pressman Film aims to symbolize the behind-the-scenes filmmaking process.

Avalanche (AVAX) announced Thursday that it has partnered with motion picture production company Pressman Film to generate funds to develop a slate of films to be released at its chain.

Avalanche is preparing to release tokenized movies on its blockchain

In a press release Thursday, Avalanche announced it has partnered with independent film production company Pressman Film. The partnership is geared toward tokenizing six of Pressman’s films on the Avalanche network for investors to get behind-the-scenes exposure.

Pressman Film is an early film production company responsible for films such as “Wall Street”, “American Psycho” and “The Crow”. The company has partnered with investment platform Republic to raise funds to launch a slate of development films.

The listing will give investors exposure to Pressman’s catalog of projects and give them early access to film productions. This means that investors can get premium access to the entire production process of a film, rather than waiting until it is released to the market.

The listing will also allow investors to gain access to the production fee and a portion of their “net profit share.”

Pressman Film plans to use the Avalanche blockchain to make the development list available to users worldwide.

“By using blockchain technology, we are providing filmmakers and investors with unprecedented opportunities to address key industry challenges,” said Marc Iserlis, head of film at Republic.

With tokenized movies, Avalanche plans to give attendees access to exclusive screenings, collectibles, and credits on its blockchain.

AVAX fell 1.1% in the last 24 hours, extending its weekly losses to -7.7%.