The long-awaited Thai movie “Bupphesanniwat 2” (Love Destiny) — which is based on a widely popular 2018 TV series of the same name — is scheduled for nationwide screening on July 28.
What makes this film interesting is not only the popularity of the period drama and its main actors Thanavat “Pope” Vatthanaputi and Ranee “Bella” Campen, but also the launch of a new digital token called “Destiny Token”.
Holders of the digital token are entitled to returns and privileges for two years, long after the film leaves the cinemas.
Destiny Token represents the first business union between key players like GDH, Broadcast Thai Television, and Kubix, a company under Kasikorn Group.
This marriage of entertainment and financial technology businesses offers a new form of investment that is clear and easy to understand.
The Destiny Token is opened for sale from May 23.
This project-based token ties a movie with returns from a digital asset. It is a hybrid digital coin that is both investment token and utility token, offering both financial and spiritual returns, including various privileges.
Also, the Destiny Token helps to educate investors about a new form of investment that uses the blockchain technology to transform physical and abstract assets into a digital asset. It serves as an example for businesses to get inspired about new fund-raising opportunities with their existing assets.
Destiny Token: Thailand’s first ‘movie digital token’
Apinya Ruangthaveekoon, managing director of Kubix Digital Asset, said the Destiny Token is not a cryptocurrency.
It is rather a digital coin issued by an organization or a company, which in this case is Special Destiny Co Ltd. GDH 559 Co Ltd and Broadcast Thai Television Co Ltd hold 70 per cent and 30 per cent of shares, respectively, in the company. Kubix provides electronic-system services in offering the digital token for sale.
Kubix’s duty as the ICO portal for the Destiny Token’s initial coin offering involves a new investment concept of “Invest, Earn and Experience”, according to Apinya.
The Destiny Token, the first digital coin offered for ICO at Kubix, has all the three components, she said. More importantly, this token is designed for easy understanding and access for the masses.
“This project meets Kubix’s desire to make investment more interesting, as it well represents the concept of ‘Invest, Earn and Experience’,” she said.
The Destiny Token is designed for investors to co-invest in the “Bupphesanniwat 2” movie. There are three types of the token — G (I am Glad), D (I am Delighted), and H (I am Happy).
The “G – I am Glad” token is priced at 5,559 baht each, with 15,559 tokens available.
The “D – I am Delighted” token is priced at 155,559 baht each, with 459 tokens available.
The “H – I am Happy” token is priced at 1,555,559 baht each, with 69 tokens available.
Under the Securities and Exchange Commission (SEC) regulations, each ordinary investor is allowed to invest in the “I am Glad” and “I am Delighted” tokens for no more than 300,000 baht.
Ultra-high-net-worth investors (individuals with net assets of at least 70 million baht or investors with securities valued at least 25 million baht) are eligible to invest in all types of the token (with no investment limits).
Destiny Token investors are entitled to these following returns and privileges: The right to get back the capital plus financial returns with a 2.99 per cent interest per annum; a bonus payment of 2.01 per cent per annum when revenues from the nationwide screening of “Bupphesanniwat 2” exceed 1 billion baht; and other privileges available for different types of the digital token.
“We design the Destiny Token as Kubix’s first to familiarise investors with digital coins. The coin is designed for easy understanding, low risks and investment comfort,” Apinya said.
“The coin is designed to be like a corporate bond, with short-term investment of no longer than two years. When the maturity period ends after two years, the investors get their capital fully. What’s more interesting about this coin is the returns in the form of various privileges,” she added.
Destiny Token is not cryptocurrency
Kubix managing director Yarnvith Raksri said that the company is obliged to serve as a digital token issuer for corporate customers.
Kubix’s role is to act as the primary market (ICO) while also serving as a secondary market in its collaboration with the Stock Exchange of Thailand to create an ecosystem for digital asset exchanges.
According to the SEC’s definition, there are two types of digital assets — cryptocurrency and digital token.
Cryptocurrencies are vulnerable to price fluctuations, with high investment risks.
However, the Destiny Token is not a cryptocurrency. Its value is stable, as there are no exchanges in the secondary market. The issuer is obliged to pay back the capital to the investor when the token’s maturity period ends after two years.
The SEC divides digital tokens into two groups — investment tokens and utility tokens.
The Destiny Token is classified as investment token, which is similar to investment in corporate bonds, with fixed returns. Also, it is a ready-to-use utility token, capable of being exchanged into goods and services immediately.
Kubix’s Yarnvith said the Destiny Token is a new form of investment that offers more privileges than conventional investments — not only returns on investment, but also benefits on investment.
It is the benefits on investment that make the Destiny Token special, he said.
The Destiny Token is a digital asset that combines money, technology and lifestyle under Kubix’s “Invest, Earn, Experience” concept.
One of the special benefits for the investors is an exceptional opportunity to have lunch with the movie’s main actors Pope and Bella on May 25.
Also, the investors are treated to a special screening of “Bupphesanniwat 2” on May 26 before the general public. And their names will appear on the movie’s end credits as Special Destiny Executive Producers.
Moreover, the token holders will each get a “Bupphesanniwat 2” digital poster with their name included, stamps and special-collection T-shirts, and discounts for cinema tickets and popcorn.
Apinya said that as the “Love Destiny” TV series has a strong following, Kubix expects high demand for the Destiny Token. Hopefully, all the tokens can be sold out in a day.
Destiny Token subscription on May 23
Those looking to invest in the Destiny Token can make their subscription through the Kubix mobile application with six easy steps: Downloading the Kubix app, opening a Kubix account, linking it to your bank account for receiving the returns, starting the Kubix Wallet to collect your digital tokens, answering the investor knowledge test questions, and subscribing to the Destiny Token ICO on May 23, 2022.
Eligible investors of the Destiny Token must be at least 20 years old, have a KBANK and KPLUS account, and activate the unique digital identification (NDID) services through a mobile banking application.
Kubix plans to launch more digital coins in 2022
Kubix focuses on issuing hybrid digital tokens that are a mix between investment token and utility token, to create a new form of investment that allows investors to get both financial and spiritual returns, as well as a variety of privileges.
For Kubix, this form of investment in digital assets will become popular in Thailand, as the investors obtain more than financial returns while the fund raisers get more than money from the investors. The fund-raising corporations create experiences and engagement for the token holders who can become customers in their other projects.
Apinya said that in 2022, Kubix plans to launch three to four more digital token projects, in collaboration with a property business seeking to raise funds.
Also, Kubix is looking at businesses with interesting marketing tactics and benefits in such sectors as alternative energy, commodities, niche and new industries.
Kubix views that businesses of any size can benefit from the initial offering of their digital coins, according to Apinya. The company’s experts have visited many businesses to spread knowledge about raising funds through digital tokens, which has an advantage in the flexibility of designing the investment “format” to satisfy both the investors and the coin-issuing businesses.
Fund raisers have a high level of flexibility in designing benefits offered to the prospective investors in their digital tokens. This differs from investment in shares, which has a fixed structure of rights and benefits set by law.
Apinya advised prospective investors to study the “white paper” of the digital-token project they are interested in, adding that digital coins have legal protection under the Digital Asset Act.
“Investors should carefully study the digital coin they are interested in, regarding its format and returns, in order to determine if it responds to your investment purposes.”
At present, Destiny Token is only one of the two Thai digital coins that are backed by physical assets. The other is SiriHub Token, an investment digital token designed by SPV 77 Co Ltd. However, the two tokens differ in terms of cash flow and project details.
In the face of the ongoing turbulence in the digital-asset market, Apinya said the Destiny Token is a good investment alternative, as it is backed by assets from the real world with the blockchain technology in the background.
“Kubix believes this is an interesting form of investment that will certainly become popular in the future,” she said.
For answers to questions regarding the Destiny Token or opening a Kubix account, phone the Kubix Call Center at 02-844-8488.