Would “Game of Thrones” have ended differently if it had been on Blockchain?
Remember when season 8 of “Game of Thrones” ended, and you could only think about how you wanted to rewrite it eventually? When it was 1.8M fans signed a petition for the producer to change the grand finale, or rather, the grand fiasco. Unfortunately, HBO responded that there was no chance the last season of the legendary series would be made again.
Yes, what if we were told that with blockchain, re -creation was not necessary in the beginning? The advent of Web 3.0 and crypto technologies seeks to disrupt the stagnant film industry and empower creators, along with film audiences, to participate in filmmaking through decentralized communities.
Who Pays To Make A Movie?
When you enjoy popcorn and movies at the cinema, everything seems easy. Once the lights go out, in the middle of the film and the action, no one thinks about the experience of the creators in the throat -cutting film industry and the hell kitchen that most likely made the film.
First, and most importantly, finding someone to pay for the film isn’t an easy task – it might be easier to sell a kidney to fund the next film! Yes, the film industry is full of the weirdest stories about how films get funded.
In 1958, the creators of the sci-fi horror film “Plan 9 From Outer Space,” after several failed attempts to impress the film industry, had to convince the Baptist church to fund the film. The Church approved and generously sponsored the film, with the requirement that the cast and crew be baptized.
Robert Rodriguez, the director of the legendary film “Desperado,” featuring Antonio Banderas, was only able to film the first part about the Mexican gangster “El Mariachi” (1992) after selling his body to medical testing for new cholesterol treatments. Even one of Britain’s most acclaimed independent filmmakers, Peter Strickland, was only able to fund “Katalin Varga” after receiving an inheritance from his uncle.
A more bizarre funding story was at the end of the making of “The Cotton Club” (1984). Much of the funding was arranged through producer Robert Evans, who is new to guilty pleas for the cocaine trade. The film features many bizarre characters who are funded to create, including Saudi arms dealer Adnan Khashoggi.
Under normal circumstances, the film is funded by a film studio, and this is a model that has been used forever by Hollywood. Essentially, the studio provides funds for the exchange of distribution rights. In this way, producers and studios have become gatekeepers in the film industry, creating many alternative and indie film creators that have yet to be discovered. The box office raises millions of film production companies, and has developed the power to tap into the creativity of filmmakers to generate the most revenue.
Unlike high -budget Hollywood productions, independent films have to deal with the complexities of film funding in their own way, often through crowdfunding, applying for funds, giving concepts to private investors, or by fully believing in a similar idea. funded with his own personal finances.
By entering the film industry, Blockchain and Web 3.0 can transform from the inside out, empowering creators and audiences to produce and fund films simultaneously.
With Crypto Comes Decentralization
But how do you co -sponsor and fund a film? The answer lies in the DAO. The three letters are a decentralized autonomous organization, and can interfere with the traditional way of making films. To put it in basic terms, DAO is a member -owned community without a centralized leader. By using cryptocurrency transactions, computer algorithms automate decision making, thus eliminating bias factors and human error.
For the film industry, This means that project approvals, actor choices, or even decisions about film plots can be made by DAO users. Indeed, all of these decisions will be made automatically through digitally intelligent contracts — without the need for human intervention. As in crowdfunding, the use of DAO will allow the community to fund the film. The difference is that, in this way, instead of just receiving a few small allowances, the community becomes a shareholder of the film.
In the traditional film industry model, the main shareholders of the film are production companies, investors, and in some cases, big names in the film. Generally the people who contribute to the physical making of the film are only salaried employees, but have no actual ownership of the final product. But consider this: if the creation process is put on the blockchain through DAO, the process will be more collaborative and transparent, not to mention giving all creators an original stake in the project, and the possibility to receive a share of the revenue.
Empowering Audiences to Become Shareholders
While all power is in the hands of the film industry giants, the classic film business model leaves audiences on the outside edge of active participation in filmmaking. However, fan interaction is limited to buying tickets to movies, merchandise, and writing reviews.
So, what is the process of making a movie like with the help of blockchain? Imagine if a filmmaker decided to run using DAO – directors, cinematographers, editors, sound technicians, and actors; anyone who wants to get involved can join and create a decentralized community to support the film.
The creators will create a vision for the film, and DAO participants can choose to decide who will work with, and how the film will be realized. Important pieces can be selected by the public in the post -production stage, especially for sensitive parts of the film, such as the beginning and end. In addition, to fund further production, the final film could be sold as an NFT.
Even scripts can be written simultaneously using a blockchain. Imagine the idea for a script in printed form as an NFT-user to be rewarded with a stake in DAO. As more participants create ideas, the NFT can be re -mixed to add more details to the story, which can then be repurchased. By repeating this process, anyone can create a branch with a new story element, and get a prize for their contribution. It can continue like this until all the scripts are done.
The completed screenplay can then be printed as an NFT and auctioned to raise funds for the production of the film. The buyers and sellers of the NFT will be part of the same DAO, with the original stake in the final product.
Crypto Is Drawing Movies IThe eyes of the industry
Producers have begun to recognize the power of crypto in the film industry, and this year at the Cannes Film Festival, Web 3.0 technology has come into the spotlight, with tech startups flocking to sponsor panels, parties, and events.
Indeed, the DAO at the back of the NFT collection ‘Nouns’ has funded an indie film titled “Calladita”. The film is about women’s empowerment, and follows the story of a young Colombian domestic worker in a wealthy family’s Spanish holiday home. After raising 6.9 ETH ($ 21,000), Nouns DAO became the second largest sponsor for the film, and is considered to be the first DAO to fund a feature film.
Based on DAO principles, decentralized studios also began to emerge. Decentralized Pictures, managed by producer and director Roman Coppola, announced the launch of a blockchain -based film financing app. The documentary film and coaching awards were just launched, in partnership with The Gotham Film & Media Institute. Filmmakers are invited to submit proposals on the platform, and the public can choose to determine which projects should be considered for funding allocation.
The future of film is bright — and decentralized. If you could have a voice and vote, would you make it to the end of the final season of “Game of Thrones”?