PRESS: Online cinema TVzavr to hold ICO for $30 mln in Feb 2018

MOSCOW, Nov 30 (PRIME) -- Online cinema TVzavr will hold an initial coin offering (ICO) in February 2018 to raise an equivalent of U.S. $30 million for a global video platform on the blockchain technology, called MoviesChain, business daily Vedomosti reported on Thursday, citing the cinema’s General Director Marina Surygina.

TVzavr plans to launch MoviesChain in September–November 2018.

The online cinema, which started working in 2010, has 25 million users per month on average. In 2016, the company’s revenue reached 232 million rubles with the net profit of 1.8 million rubles.

According to researcher TMT Consulting, the share of TVzavr on the market of legal online cinemas by revenue was 5% in 2016.

(58.3311 rubles – U.S. $1)

End