LOS ANGELES, May 9, 2019 /PRNewswire/ -- Nutopia, the first blockchain-powered entertainment financing platform, is poised for a May 22, 2019 launch. The company, which helps creators raise capital for their projects, is now open for submissions.
Nutopia was conceptualized under the tutelage of the UCLA Venture Accelerator program which offers beautiful office space, a vast alumni network, and UCLA consultation. June Chu, project founder and CEO, says, "We aim to empower content creators by shifting the balance of control from studios and mini-majors back into the hands of the artists."
The way it works is that Nutopia uses "tokenization," or the breaking down of assets into cryptocurrency shares that can be traded through blockchain. Jeffrey Wernick, an early investor of Uber and a pioneer of cryptocurrency financing says, "What we can get from beginning to think about tokenizing [IP] is that we change our relationship with each other. Everybody is a partner, everybody is a peer, and we have a consensus mechanism of how collectively we make decisions." He then adds, "The tokenization of entertainment property is an inevitability, and Nutopia is ahead of the game."
To be part of the Nutopia experience, content creators and artists can now visit nutopia.io to apply to have their projects listed on the platform.
ABOUT NUTOPIA IO
Nutopia IO, a Los Angeles based company, is powered by blockchain technology and has its own cryptocurrency token and exchange. With plans to open up production and distribution arms, Nutopia aims to establish an online ecosystem that will mass-produce content while easily and efficiently help independent artists realize their vision.
Nutopia's beta version of the site, which is open to project applications, has just launched and can be accessed at nutopia.io, with the official launch in July.
ABOUT THE UCLA ANDERSON VENTURE ACCELERATOR
The UCLA Anderson Venture Accelerator offers expertise by the nation's top public university and business relationships from the Anderson alumni community. The accelerator helps companies succeed as a result of co-working and networking. Centered in Los Angeles, the location offers companies access to the fastest growing Venture Capital market. With immersive and experiential programming and advisors, startups enjoy a steady stream of insights and support to promote performance beyond projections.