Dear Stage 32 Members,
Over the last two weeks, I've had a couple of Skype meetings with a fellow by the name of Shahar Namer, who I met here on the site and who is looking to sell me the service of launching my company and my film projects as a cryptocurrency. What appeals to me about this idea is t...Expand post
Dear Stage 32 Members,
Over the last two weeks, I've had a couple of Skype meetings with a fellow by the name of Shahar Namer, who I met here on the site and who is looking to sell me the service of launching my company and my film projects as a cryptocurrency. What appeals to me about this idea is the notion of rolling financing that builds on the development of my film rather than waiting for an ROI - which in the context of my own business model and production slate can lead me very handily right into the production of a handful of other projects without disrupting the expectations of the investment.
What worries me about all this is my own ignorance about the crypto market, my lack of preparation when it comes to selling a cryptocurrency, and Shahar's seeming nonchalance about that ignorance and lack of preparation as a barrier to entry. Because I was cold contacted by him here on the site, I'm assuming I'm not the only one he reached out to. Has anyone else done their due diligence on this fellow?
I've been in correspondence with my attorney about all this, of course. While Shahar's website does have some testimonials on it, and while he does have a broad social media presence, there doesn't seem to be anything on him or his company that's written by 3rd parties. Moreover, the people he has talking about their success with his company seem to be people who are committed to careers in cryptocurrency. Even if The ICO Rocket is a real company, I'm not seeing anything to substantiate it's value as a financing tool in film - or in any market where we're not going to be shifting our professional focus to the sale of cryptosecurities.
If he's looking for a test case, and if the support is there to make it work, I'm not necessarily opposed to doing that. At the same time, risk factors range from undercapitalization to having the crypto market restructured and regulated right under our financing process, to potentially money laundering. Has anyone coughed up more information on this guy than I have? Does anyone have insight into what's up with The ICO Rocket?
Any observations are appreciated! On the subject of business, I do have a pretty comprehensive Stage 32 blog coming out tomorrow - so stay tuned!