Since its international launch at the Utah State Capitol earlier this summer, Miyu Enterprises’ HARACOIN is finding its way into entertainment. Back in May, the Utah State Capitol played host to Miyu Enterprise’s latest venture.
While its subsidiary, Hara, Inc., is in its beginning stages of its initial US offering memorandum , this is no ordinary token offering. The HARACOIN offering is conducted worldwide, but is only available to accredited investors within the United States.
Due to the unique aspect of this venture, I have attended multiple events hosted by Hara. This includes many conversations with its officers, attorneys, endorsers, as well as those from Momentum Media.
Why Is Utah A New Place of Interest For Haracoin?
#1 –Physical Presence
One of the biggest mysteries in the crypto space is knowing whether the project or company is legitimate. With this space, it’s less common for there to be a physical place of operations.
Well, in Hara’s business model, it’s vital. Headquartered in Orem, Utah, Miyu Enterprises and Hara launched Haracoin. The corporate-backed cryptocurrency has the ability to be used as a medium of exchange worldwide. But, for this space to survive, there needs to be trust. If a company can’t trust their own product, why should the investor?
So, how does a company out of Utah earn that trust? One word—compliance. I was able to speak with Hara’s CEO, Lee Baker on why this project is something to keep eyes on.
“Cryptocurrencies are new and they are an exciting medium and technology,” said Baker. “We at Haracoin want to move this cryptocurrency forward in the most positive, ethical, and legal way we can.”
“There are a lot of people out there winging it when it comes to playing by the rules…we want to review any new legislature and securities opinions, whether it’s by the SEC or other securities divisions. There are rules in place right now that we need to follow. But also, there are more rules coming in the future that will eventually need to be followed.”
#3 –The Utah State Capitol Played Host to HARACOIN’s International Launch
Earlier this summer, the Utah State Capitol played host to HARACOIN’s launch. Under one roof, you could find the legal, entertainment, media, and financial industries together.
Kicking off the night of entertainment, was British-American singer and actor, Alex Boyé. With over 200 million YouTube views and counting, Boye is “Africanizing” the entertainment space and bringing. Hara is also working with Boye on a new song, called “Remember Me,” having already filmed the music video for.
#4 –On Stage At Sundance Film Festival
At the Sundance Film Festival, Miyu gifted Haracoins to celebrities such as Larry King, Jack Black, Josh Duhamel, Maggie Gyllenhaal, Rupert Everett, Octavia Spencer, and many others.
But, why is Hollywood such an appeal? Utilizing the company’s Utah-based production studio is the major reason. Hara is currently in works of finalizing its new original-3D animation feature film, Starlight, with prominent figures like Larry King voicing the characters.
#5 –Utilizing The Power of Social Media
When it comes to standing above the crowd, Miyu has utilized the full power of social media influencers. One major influencer is entrepreneur, Jason Stone, aka “@MillionaireMentor” to his followers.
With over 3.3 million followers, Stone drives individuals to be their own entrepreneur. This type of engagement is vital to the relationship between Momentum and Hara.
But, how did this Utah-based company attract the attention of these rising stars? Building up its knowledge base in the entertainment portfolio, the company has engaged Beverly Hills-based entertainment group, Momentum Media. A leading media group in the cryptocurrency media space, Momentum recruit influencers and celebrities to aid in strategy development for similar ventures.
Momentum’s founders, Dallas Santana and Kenji Claudio are currently engaged with some of the leading music, and entertainment blockchain powered companies in the world and boasts a list of impressive clients it serves on its website.
“We have a robust film and TV slate in the pipeline that is in queue to go into production in conjunction with Hara, Inc. and Momentum,” said Claudio. “Our shared vision is to change the way we think and approach financing film, TV, and digital streaming content through the use of blockchain technology.”
#6 –What Is On The Horizon for HARACOIN?
So, what do Hara and Momentum have on their horizons? I spoke with Baker and he broke down some of the different projects Hara is currently working on.
Streaming is everything these days and Hara knows it. Harastream is a film and television online streaming service which is currently in active development. This will allow members to view complete box sets of film and television productions, rather than just the film itself. Harastream also provides members to see additional aspects of the projects that are uploaded by the content creators and/or film owners, including, but not limited to director and cast interviews, behind the scenes takes, alternate endings, etc.
If there’s one thing we can all agree on in the entertainment space, it’s that movie theaters are having a tough time surviving when it comes to the digital world of theater. In order to survive, the theater itself must become “smart”. It needs to be the attraction as well as the main event. Hara’s Haralive division aims to create a fun, interactive experience for moviegoers in movie theater lobbies and hallways utilizing virtual reality (VR) and augmented reality (AR). By bringing movie theaters to life so to speak, this helps increase the public interest in these technologies while attracting more moviegoers to the establishment, this well benefit all parties involved.
What’s ‘Haracoin’ Bringing To The Community?
But, at the end of the day, the use of member proceeds from the U.S. token offering will be used to help further the development of all of these divisions, igniting Hara’s business-to-consumer (B2C) strategy for its business units, tapping into a social media strategy that nobody has fully utilized until now.
“The shared vision is to leverage the disruptive world of social media that Momentum has mastered and help propel wide-base adoption of entertainment-minded consumers into Hara, Inc.’s entertainment platform,” Claudio emphasized.
Drew Rossow is a contributing editor to Grit Daily. He is a criminal defense/internet attorney, writer, and adjunct law professor in Dayton, Ohio. Born and raised in Dallas, Texas. A Millennial, Rossow provides perspectives on social media crimes, privacy risks, Millennials, and business. Rossow consults for ABC, FOX, and NBC on the latest news in technology law.