Our Financing Model
Each project is built on a financing structure that keeps things transparent, compliant, and fair to everyone involved, from the creative team to the people who back it.
We believe good films and sound investment can work together. So we built a model that supports long-term cultural production without cutting corners on either side.
1. Corporate Foundation
Cellini Art Fund S.p.A. is an Italian public joint-stock company (Società per Azioni) incorporated on 31 July 2019 and registered with the Chamber of Commerce of Verona (REA VR-447800, P.IVA 04121990982). The company operates within a fully regulated Italian corporate legal framework.
Our capital structure is supported by:
● Authorised share capital of €100,000,000, fully subscribed and paid in● The Benvenuto Cellini Self-Portrait (Asset Record #CAF-001), principal art asset of the fund● Intellectual property and production rights across our film slate● A growing slate of documentary projects in development and distribution
The company is administered by a sole director (Amministratore Unico) and is subject to independent oversight by a Board of Statutory Auditors (Collegio Sindacale) composed of five registered statutory auditors appointed in accordance with Italian corporate law.
2. Project-Level Financing
Each documentary project is financed through a structured approach that may include:
● Equity participation● Co-production agreements● Revenue participation structures● Pre-sales and distribution agreements● Institutional or regional funding programs
Our objective is to align financial participation with the commercial performance of each project while maintaining creative independence and production integrity.
3. Tokenised Financing Instruments
Where appropriate, Cellini Art Fund may issue private security tokens as part of a project-specific financing structure.
What our tokens areOur security tokens:● Represent defined economic participation rights linked to specific film projects or to the company's corporate structure● Qualify as financial instruments under MiFID II (Directive 2014/65/EU) and are governed by applicable Italian and EU securities law, including Legislative Decree 129/2024 frameworks by an Italian joint-stock company (S.p.A.)● Are issued as private placements directed exclusively at verified investors who have completed mandatory KYC/AML verification● Are not publicly traded cryptocurrencies and are not issued for speculative trading purposes● Operate through blockchain infrastructure as a transparent administrative and distribution mechanism, while legal rights are defined in formal off-chain documentation
Regulatory frameworkEach token issuance by Cellini Art Fund S.p.A. is structured as a private placement and does not constitute a public offer requiring a prospectus under the EU Prospectus Regulation (Regulation (EU) 2017/1129), as the total consideration of each issuance remains below the applicable national exemption threshold pursuant to Article 1(3) of the Regulation as implemented in Italian law.
Tokens that qualify as financial instruments under MiFID II fall outside the scope of the EU Markets in Crypto-Assets Regulation (MiCA / Regulation (EU) 2023/1114), as implemented by Legislative Decree 129/2024. CONSOB is the competent supervisory authority for such instruments in Italy.
What this means for investorsParticipation in our token offerings is reserved exclusively for verified investors. No token may be acquired without prior completion of a KYC/AML verification process conducted by our third-party compliance partner. All token holders receive full offering documentation prior to participation.
4. Alignment & Transparency
Our model is built on:
● Clear contractual documentation for all participation structures● Audited annual financial reporting by the independent Board of Statutory Auditors● Defined revenue allocation mechanisms executed through smart contract infrastructure● Structured distribution policies aligned with approved financial statements● Full compliance with Italian corporate law and applicable EU securities regulation
What Is a Security Token?
A security token is a digital representation of defined economic rights issued within a formal legal and corporate framework.
These rights are governed by contractual documentation and applicable corporate and securities law.
Unlike utility tokens or speculative cryptocurrencies, a security token is issued within a formal legal framework and is linked to contractual participation rights.
In our case, security tokens are used as structured financing instruments connected to specific documentary projects.
They represent defined economic participation, not digital collectibles, and not speculative assets.
How Cellini Art Fund Uses Security Tokens
Where appropriate, Cellini Art Fund issues private security tokens as part of a project-level financing structure.
Our tokens:
● Represent defined economic participation rights● Are issued within a regulated Italian corporate framework● Are linked to specific project revenues or defined corporate participation● Operate via compliant blockchain infrastructure● Require identity verification (KYC) and whitelist approval
They are not publicly traded cryptocurrencies and are not issued for speculative trading purposes.
They function as a structured digital representation of contractual participation in cultural production.
Why We Use Tokenised Instruments
Tokenisation is not our business model.Film production is.
Tokenisation is used selectively as an administrative and structural tool to:
● Improve transparency in revenue allocation● Enable programmable distribution mechanisms● Reduce operational friction in participation management● Provide clear audit trails● Enhance alignment between capital and performance
Technical Structure
Cellini Art Fund security tokens are:
● Issued privately within a defined offering structure● Distributed only to verified participants● Recorded on blockchain infrastructure for transparency and auditability● Governed by off-chain contractual documentation
The blockchain layer serves as an administrative and distribution mechanism, while legal rights are defined in formal documentation.
""Filmmaking shouldn't be compromised by how it's financed.""