EXCLUSIVE: Glass House Distribution president Tom Malloy, bitcoin veteran Charlie Shrem and producer Shyam S. Sengupta unveil a new digital finance company, Defiine, here at the Cannes Market.
Described as a digital financing solution for independent films, the company will seek to leverage assets and intellectual property against pools of crypto cash. The partners claim that investors will be able to stake funds in the assets to achieve “meaningful” annual percentage returns. Defiine also says it is collaborating with other companies that have made strides in the NFT and movie space.
The company made two productions using the model (ask me to dance and Trauma Therapy: Psychosis) and says he’s also in development on several other projects, including the upcoming crime drama Interstate 35.
During the market, Defiine will be looking for new projects in advanced stages of development, as well as crypto investors.
Shrem is a founding member of the Bitcoin Foundation and hosts the UntoldStories crypto podcast; Malloy is CEO of Trick Candle Productions and president of sales/distribution company Glass House Distribution as well as an actor, writer and producer; Sengupta (Telling lies, a mess) is a partner of CinemaWerks Entertainment and producer of films, television and interactivity.
Said Sengupta, “We noticed that the integration of crypto and film seemed to be on everyone’s mind, but the crypto companies didn’t seem to have ties to any viable film assets, and the film companies did not have access to crypto guardians. Definine bridges that gap.
Defiine is hosting an event in Cannes, timed to coincide with the CoinAgenda Europe 2022 blockchain and cryptocurrency conference taking place in Monaco next week.