Would you invest in a play? Hong Kong sets the stage for tokenised funding
‘We also anticipate that future investment tokens and tokenised experiences will be settled using stablecoins,’ fintech group firm says
Investors can buy tradeable digital units to help finance a stage play produced by Hong Kong film star Louis Koo Tin-lok and featuring award-winning actress Fish Liew Chi-yu.
Esperanza Fintech Group CEO Dan Ronald Leung Wai-tsun said on Monday that the firm would launch its fifth project this year using investment tokens, which convert an entertainment production’s costs and profits into small, tradeable digital units via blockchain.
The firm is co-presenting a play titled The Big Big Day in July and August alongside entertainment production company One Cool Stage. The theatre piece stars Chu Pak-him and Hong Kong Film Award-winning actress Liew.
“[The government] is supportive of real-world assets (RWA) … We also anticipate that future investment tokens and tokenised experiences will be settled using stablecoins,” Leung told the South China Morning Post.
“[Stablecoin issuers] also hope the issuance of RWA could attract investors in Asia to Hong Kong and China.”
A stablecoin is a digital currency designed to maintain a fixed value by pegging its price to a reserve asset, such as a fiat currency, providing a more stable medium of exchange in the volatile cryptocurrency market.