Film & Television: The Blockchain Series
Decentralization is the future; it’s time to discuss how blockchain-backed concepts will revolutionise different aspects of tradition-heavy industries.
As an industry that’s famous for being difficult to catch a break into, decentralization yields a variety of major benefits to ‘shake up’ the world of film and television.
DeFi (decentralized finance) projects targeting the film and television industry are already in the works and making waves - Roman Coppola has lately been one of the major names to enter the space with his platform ‘Decentralized Pictures’. There are multiple projects out there; ‘AndAction!’ and ‘Mogul’ are also major players in the space.
The goal is fairly straightforward: support independent filmmaking and provide financial resources to those without industry connections.
Projects like Decentralized Pictures are looking to kill the lengthy and difficult process to bring scripts to life. Communities will now be responsible for deciding which screenplays get made, democratization will lead the casting process, and cryptocurrencies will serve as the bedrock of the funding process.
Filmmakers are then rated through a pointing system to bring transparency to reputation. Proceeds from the film/tv show are then divided accordingly amongst investors through cryptocurrency & NFTs.
As most of us are probably aware after watching the same TV show for the 3rd time on Netflix during lockdown, the demand for production-quality content outweighs the current supply. Okay, yes - there’s a lot out there, however when was the last time you encountered a show or movie that was specific to your taste?
Decentralized film financing will make sure everyone gets a piece of the pie in their favorite genre.
How about premiers in the metaverse?
Imagine attending a global premiere of a film in a completely themed world? This is exactly what David Bianchi and Chris Wood set out to do with their film ‘Break The Bars’. Officially marked as the first ever virtual movie premiere.
We’re expecting to see this space grow with increasing momentum, so be sure to keep an eye out!