Cap App has expanded its credit marketplace into media and film financing, funding the upcoming feature film "Wake" starring Cole Sprouse, Riki Lindhome, and Chris Parnell. The loan is structured as an advance against anticipated film production tax credits, a traditional film-financing collateral type. Rather than tokenizing real-world assets, Cap uses specialized underwriters to assess offchain credit risk and escrow onchain collateral. Wake's loan is collateralized with Coinbase BTC. Cap's marketplace includes 16 independent underwriters, and the company says the model can scale across industries.

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