Kev Adams was involved in the NFT-funded crowdfunding film fiasco

The loss is about 1.5 million euros. Over 700 contributors. as revealed media party In its columns, many donors to Plush, a participatory project – with an estimated budget of 60 million euros – would lose money after the financial fiasco.

As Mediapart specifies, this film was promoted by Kev Adams and “Runs an opaque company in Dubai run by a mysterious businessman with a passion for cryptocurrency and poker“.

“The 770 people who bought NFTs to fund it last May and June lost almost all of their stock.“, sums up Le Parisien. And we add: “The concept is new: create an animated film thanks to crowdfunding, in cryptocurrency“The idea is to raise funds to participate in the script and”Paying up to 80% of global box office profits”, explained the contributors, who we promise to make money by multiplying their share and their names will be in the credits.

Kev Adams is tasked with promoting the project, in particular by organizing a live Instagram event in May 2022 in which he will present the project. He is also announced as one of the vocal headliners for the animated feature, along with Gerard Darmon, Eric Judor, Audrey Lamm… The future of this project still depends on the number of contributors. The condition is to sell 50,000 NFT to start the project. “Otherwise, investors will still retain ownership of the digital artwork, in this case the image of a bear, for the €1,250 paid.“, says Le Parisien.

According to Mediapart, the film was ultimately never meant to see the light of day. Paris performs:Action around Plish was stopped for nine months. And the Illuminart company, which implements the project, has not renewed its license, which expired in February. A Kev Adams press officer did not respond to our request for comment“.