Lowell Ness was quoted in the CoinDesk article, "Crowdfunding Hollywood? Regulation Isn't Making it Easy for ICO Projects," regarding the regulatory challenges of using WeiFund, a new crowdfunding platform designed by blockchain firm ConsenSys, to let a global pool of buyers both crowdfund and profit from the film, Braid.
Still, the campaign will adhere to Regulation S of the Securities Act, permitting sales to international investors, which was the "easiest and quickest path" to compliance, Lowell Ness explained.
"We didn't have time to get WeiFund set up with the SEC as a crowdfunding portal. This is a new process and can take 4–6 months. We're working on that for future offerings by WeiFund," he said.
The campaign, put together by a team of lawyers at ConsenSys and Perkins Coie, aimed to fit the idea for Braid's offering within regulations that could serve as a guide to other companies for running compliant crowdfunding, albeit with new tools.