Kubix, a digital asset platform under Kasikorn Bank, debuted the Destiny Token, Thailand's first project-based token, on the Kubix application on Monday to crowdfund Love Destiny the Movie.
According to Apinya Ruangthaveekoon, managing director of Kubix Digital Asset Co, there will be a limited supply of 16,087 Destiny Tokens, representing a total value of 265.2 million baht.
The Destiny Token comprises three kinds of tokens: I am Glad Token, priced at 5,559 baht per token; I am Delighted Token, priced at 155,559 baht per token; I am Happy Token, priced at 1,555,559 baht per token.
Kubix claims holders of all types of Destiny Token would receive principal at the end of the project with a return of 2.99% per year. Holders also have the opportunity to receive additional returns of 2.01% per year if the movie makes more than one billion baht at the box office.
Aside from annual returns, the tokens would also offer other benefits depending on the type of token.
The I am Glad Token, for example, would allow access to an early screening of the film, and holders of the I am Delighted Token and I am Happy Token would have their names in the film's credits, according to Kubix's infographic.
The company also said the tokens are suitable for anyone looking for a safe investment scheme to diversify their portfolios, claiming the prices of these tokens will be less volatile as they will not be traded on the secondary market.
Offered on a "first come, first served" basis, reservations for token purchases will be available through the Kubix app on IOS and Android. Reservations would require no additional paperwork.
However, only Thai citizens aged 20 and above may reserve digital tokens. A Kasikorn Bank account, the K PLUS app, and a national digital ID are also prerequisites.
Love Destiny the Movie will be screened at cinemas from July 28.