The Winklevoss twins will partner with MGM Studios for a movie featuring the latest GameStop craze, where a subreddit group rebelled against Wall Street hedge funds. Best-selling author and Academy-award winner Ben Mezrich will also work on the project.
The GameStop Frenzy Turns Into a Movie
The Winklevoss twins are up to a collaboration with Hollywood movie studio Metro-Goldwyn-Mayer (MGM). The script will represent the recent story of the subreddit group WallStreetBets (WSB), rebelling against Wall Street hedge funds.
Cameron and Tyler Winklevoss will start the project with the prominent Hollywood studio, which has brought some of the biggest movies to the screen during the last few decades.
The project will reportedly onboard New York Times’ best-selling author Ben Mezrich, whose book proposal “The Antisocial Network” will be at the heart of the movie script.
Bitcoin entrepreneurs, the Winklevoss twins, will have the executive producers’ role via their establishment Winklevoss Pictures, while Aaron Ryder (“Arrival”) will produce.
Another Financial Event Turned Into a Book
Publishers will reportedly 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 movie that also featured the famous twins.
His book “Bitcoin Billionaires” cherished international best-selling fame and also turned into a movie (The Midnight Ride).
As CryptoPotato reported, Gamestop’s shares experienced a significant surge after rebel actions by the subreddit’s group, the WallStreetBets. Supported by many enthusiasts, the initiative brought the fight to several giant Wall Street hedge funds, which had already shorted the shares of GameStop, a struggling video game distributor.
However, the Reddit enthusiasts went the other way around, buying and holding shares and stock options of the gaming company. Thus, causing Gamestop’s market value to soar more than 1,700% since December, while its market value has added over $10 billion between Tuesday and Wednesday.
By doing so, the group reportedly harmed several of the world’s most powerful hedge funds. According to estimations from S3 Partners, the Wall Street giants lost north of $23 billion in a few weeks from the GameStop frenzy.