“Nearly $30 Billion Raised From The Adoption of Smart Contracts” – Kiana Shek

“Nearly $30 Billion Raised From The Adoption of Smart Contracts” – Kiana Shek

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The current push for DeFi has not only changed the way we engage with our everyday financial needs but has also introduced new means of accessing, supporting, and investing in new projects. Tagged as Initial DEX Offerings (IDO), the possibility of bypassing restrictions when identifying and investing in projects has improved crypto funding. However, this does not mean that other models of crowdfunding have become redundant. For what is worth, Initial Exchange Offering (IEO) is still the go-to option for projects that prefer to capitalize on established launchpads and introduce a more diverse array of crypto products not necessarily restricted to the financial sector.

It goes without saying that despite the surge in the activities generated in the DEX market, centralized exchanges are still core components of the emerging crypto industry. This notion rests on the fact that digital asset exchanges provide regulated and trusted gateways to the crypto market, where investors can seamlessly engage in highly profitable funding schemes without having to worry too much about the security and integrity of featured projects. Hence, IEO will remain an integral contributor to the growing crypto landscape even as regulators continue to legitimize this variant of token sale mechanisms.

While exploring the relevance of IEO, I decided to seek the view of one of the stakeholders of the current IEO market in the person of Kiana Shek, CXO/Co-founder, of DigiFinex. It has used its growing status in the crypto industry to promote new projects and provide launch pads for growth acceleration.

During my interview with Ned Kee, we discussed the current state of funding in the crypto industry as well as the role of exchanges in proliferating the IEO model. Below is an excerpt from the interview.

Andrey Sergeenkov: DigiFinex recently partnered with HollyGold as the latest beneficiary of its advanced suites of IEO services. Can you tell us more about this project?

Kiana Shek: Of course. DigiFinex’s ongoing Apollo 16th project, Hollygold (HGOLD), is a technology company invested and founded by the famous Hollywood film investment financier Kevin Robl and Taiwanese blockchain godfather Dior Wu. HollyGold is also the strategic partner Base FX and Production Capital, renowned production houses in Hollywood. HollyGold (HGOLD) team members and Hollywood film industry professional consultants have co-produced up to 1,600 films, including Oscar and Emmy award-winning films and many blockbusters. Through its co-founder Kevin Robl, Base’s vice president Poli Liang, HollyGold has imported a great amount of Hollywood resources, and signed cooperation agreements with a number of film companies on investment, post-production, copyright, circulation, application scenarios, exhibitions and different kinds of activities, embarked on a bright future of many potential cooperation.

Dior Wu, the founder of HollyGold, is a believer and practitioner of chain reform. He has invented digital currency encryption cards and smart vending machines dedicated for this industry, and applied patented technology to the HGOLD project. The establishment of HGOLD is to utilize blockchain technology to get deeply involved in the production and distribution of the film industry, so to transform the Hollywood film ecology and solve the problems in the industry. HGOLD is a multi-purpose digital currency designed for the film and television ecosystem. The sale of HGOLD encryption cards through vending machines lowers the investment threshold for ordinary people, and helps them to attain the opportunity to participate in the production and distribution of Hollywood movies with a simple gesture, co-share the benefits brought by investment from these productions. 

Recently, HollyGold has participated in the production of 12 upcoming Hollywood blockbusters, including ” Willy’s Wonderland ” starring Nicholas Cage, the animated feature film “Lord of the West”, and “Recharge”, whose executive producers are no one but Keanu Reeves, and the screenwriter of the “Fast & Furious” series. In addition, HollyGold has become a sponsor of TCL Chinese Theater in Hollywood and Sugar Factory, a local landmark restaurant in Hollywood.

Recap of the AMA Live: https://blog.digifinex.io/2020/11/06/ 

Andrey Sergeenkov:I believe that this project is the latest attempt to introduce crypto to the buzzing scene of the film and entertainment industry in America. How is HollyGold different from the previous attempts to achieve this?

Kiana Shek: Before the establishment of HollyGold, there have been other projects attempting to adopt movie themes as the background of the proposed tokens, but there were no successful cases. However, since HOLLYGOLD was founded, there were huge Hollywood resources to support it with its global influence. Therefore, HollyGold has formed a global consensus that is unmatched; and COVID-19 has also brought in a new lifestyle that made room for HGOLD to start out.

The advantage of HollyGold lies in having BASE special effects post-production company as their most significant strategic partner, as well as TCL Chinese Theater. With the promotion from Hollywood stars and influencers, a strong Hollywood film consultant team, and the support of well-known Hollywood companies, such as Wolfe Air, Sugar Factory, etc., these related companies could all use HGOLD for commercial transactions in the future. All the resources mentioned above are exclusive to HollyGold, which is why it will not be easily replaced, let alone be surpassed.

On the other hand, HollyGold could adopt Dior’s blockchain patented technology to carry out unlimited cross-border cooperation with various industries. They have successfully used HollyGold to purchase the famous Balloon Dog artwork by modern artist Jeff Koons. In the authoritative global film database IMDb, it can be found that HollyGold has invested in five Hollywood movies till now including “Willy’s Wonderland”, “In Harm’s Way”, “Lord of the West”, “Wish Dragon 2” and “Recharge”.

One of HollyGold’s important partners, the Hollywood professional tracking photography company Wolfe Air, has promised to use HollyGold as a payment currency for aircraft rental. Moreover, The global Marvel Animation Exhibition to be held next year has confirmed to only adopt HollyGold as the transactional currency for purchasing commercial goods. We can see that HollyGold has created a blue ocean of digital currency for film and television, and in this blue ocean, there will only be HollyGold.

Andrey Sergeenkov: How can investors capitalize on this opportunity, and what are the rewards packaged for active participants of the ongoing funding campaign?

Kiana Shek: The total supply of HollyGold is 1 billion, and the market circulation is constant 100 million. The private sale price is 3.2 USDT, and all of them are locked up. The current market circulation is 0, and the subscription price of this IEO is in between 2 USDT and 2.7 USDT. So that participate could get the greatest discount in our token sale.

As we mentioned before, in addition to the five Hollywood movies we have invested in, we have also recently invested in the post-production for special effects of the box office guaranteed film series – Fast and Furious 9 and 007. HollyGold is a movie entertainment investment company, on top of movies, we are gradually getting our hands on more sectors such as pop music/TV series/anime/…all global cross-border entertainment films and television fields. For example, the Asian Marvel Comics and Animation Expo in 2021 has begun in preparation stages, cooperating in the music brands of the famous Spring Wave Music and Art Festival in Asia have been signed too, and we will also collaborate with world-class Influencers to film for promotion. All of these incredible international cooperation will only limit using HollyGold as the official currency.

Andrey Sergeenkov: Recent news reveals that the Securities Commission in Malaysia has moved to introduce guidelines and regulate IEOs. Do you expect other regulators to do the same?

Kiana Shek: According to SCM, the regulatory rules on IEO are designed to promote “responsible innovation in the field of digital assets while managing emerging risks and safeguarding the interests of issuers and investors”.

Since you could say the digital currency industry is a newborn baby, everything is still at an experiential stage. The Securities Commission of Malaysia has issued an IEO regulatory guidelines. I think this is a good policy for both exchanges and investors, and will also serve as an example to promote the sound development of the entire digital currency industry. On the one hand, the government has approved the issuance of digital currency through legislation and has established norms for the digital currency industry; on the other hand, it can better protect the interests of issuers and investors, and could effectively prevent illegal and criminal activities such as money laundering through cryptocurrency. I am very much looking forward to other countries to issuing similar policies as soon as possible.

Andrey Sergeenkov: What are the implications of a more regulated IEO market?

Kiana Shek: The issuance of digital currency can provide another way for early-stage entrepreneurs to raise funds. The IEO market is subject to stricter supervision, which shows that in order to meet the needs of the continuous development of the financial market, governments of various countries have been introducing regulatory policies to restrict the issuance and participants of IEOs, with the intention to guide it towards compliance. The implementation of compliance policies may stimulate more small and medium-sized companies and WeChat companies to try to raise seed funding through this method. On the whole, it is beneficial to the healthy and sustainable development of the digital currency industry.

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