Valeria Brusnikina, manager of the IT projects portfolio of the IPChain Association, answers questions from foreign media
11 March 2021
Investments in the creative sector: the new platform Co-Fi will enable creative workers to get financing
Russia has launched the crowdlending platform Co-Fii which enables representatives of the cultural and creative sector to generate revenue from the cost of the pledged intellectual rights. It will be enough for musicians, producers, publishers, videographers, and even bloggers to file an application online, fill in the payment amount, interest rate, and repairment time. Those people who wish to invest in a creative project will be granted an opportunity to invest money and return an average of 15–25% annually.
The crowdlending platform has already welcomed its first lendees — Soyuz studio, Ray Records music publishing, Soyuz Music, Russian Cinema (Russkoye Kino), and Legalpics.
According to the chairman of the Co-Fi Platform Alexander Sukhotin, co-financing a project pledged by intellectual property rights for big companies is the most optimal way to diversify their assets. And for non-professional investors, this platform is a great, low-risk opportunity to earn money as well as partner with successful, reputable representatives of the cultural sector.
The platform will be exciting not only for professional investors but for anyone wanting to support their favorite musician, film director, or video blogger while also earning money from investment in the film-making and media business. They will be able to invest in the project and enjoy its success. Content makers will have the ability to bring their audience to a platform that can not only provide “likes” donations for artists but also invest in their creative work, which can result in financial earnings.
It is important to note that the growth of crowdlending in Russia shows that the creative economy is growing as well. Crowdlending, unlike crowdfunding, is a bilateral contract that enables earnings for the content production of both creative workers and consumer-investors. The latter does not “donate” money as patrons, but invests and provides loans with interest rates.
The Co-Fi crowdfunding platform is included in the register of the Bank of Russia and cooperates with credit bureaus. The user does not have to open an account in any certain bank. No actual presence in the office of the platform operator is necessary for making investments or investing in projects.
The launch of the Co-Fi platform is taking the local investment potential to the next level and a new source of inspiration for the market in the creative sector.
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