Gramarye Media is making headlines in Atlanta for their plans as the first movie studio on the East coast looking to raise $175M in an ICO to fund its projects.
Story Excerpts:
A product of Georgia Tech’s Flashpoint accelerator, Gramarye Media hopes to launch their ICO April 23, with $5M of the available tokens at $1 a piece open to unaccredited investors who reside in the state.
At least $80M of the funding will go towards the distribution of their movies to theaters across the country without the aid of a third-party company.
According to CEO John Adcox, the hope is this funding will get the ball rolling to make Gramarye Media a major studio in Atlanta.
I spoke with Adcox yesterday, and he said making a portion of the ICO available to the residents of Georgia was an important, conscious choice. “It’s a little bit of hometown pride,” he said. “I’m a native Georgian…(We got) a lot of pressure to move to the West coast and we really wanted to plant a flag and do this in Georgia.”
While Gramarye might offer the largest ICO this state has seen, it’s not the first.
