June 19, 2021

The GameStop Frenzy Will Turn Into Hollywood Script By MGM and The Winklevoss

2 min read

The Winklevoss twins will partner with MGM Studios for a film including the latest GameStop fad, where a subreddit group rebelled against Wall Street hedge funds. Best-selling author and Academy-award winner Ben Mezrich will likewise deal with the task.

The GameStop Frenzy Turns Into a Movie

The Winklevoss twins depend on a collaboration with Hollywood film studio Metro-Goldwyn-Mayer (MGM). The script will represent the current story of the subreddit group WallStreetBets (WSB), rebelling versus Wall Street hedge funds.

Cameron and Tyler Winklevoss will start the project with the popular Hollywood studio, which has actually brought some of the greatest films to the screen throughout the last couple of years.

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Cameron and Tyler Winklevoss. Image Source: CNN The job will reportedly onboard New York Times’ best-selling author Ben Mezrich, whose book proposition “The Antisocial Network” will be at the heart of the motion picture script.

Bitcoin business owners, the Winklevoss twins, will have the executive producers’ function through their establishment Winklevoss Pictures, while Aaron Ryder (“Arrival”) will produce.

Another Financial Event Turned Into a Book

Publishers will apparently be going to auction with the book this February. Mezrich has quite the best-seller past behind his back. He is also an Academy-award winner for The Social Network with Aaron Sorkin – – a motion picture that also included the well-known twins.

His book “Bitcoin Billionaires” valued international best-selling popularity and also developed into a movie (The Midnight Ride).

As CryptoPotato reported, Gamestop’s shares experienced a considerable rise after rebel actions by the subreddit’s group, the WallStreetBets. Supported by numerous enthusiasts, the initiative brought the battle to a number of huge Wall Street hedge funds, which had already shorted the shares of GameStop, a struggling video game supplier.

Nevertheless, the Reddit enthusiasts went the other method around, buying and holding shares and stock options of the video gaming company. Therefore, causing Gamestop’s market price to skyrocket more than 1,700% considering that December, while its market price has actually included over $10 billion in between Tuesday and Wednesday.

By doing so, the group supposedly damaged numerous of the world’s most effective hedge funds. According to estimates from S3 Partners, the Wall Street giants lost north of $23 billion in a couple of weeks from the GameStop craze.