Distribution : Blockchain Technology ........The film business revolutionized? by John Rodsett

John Rodsett very timely; perhaps NFT financing,

the art market has been roiled by NFTs since Q1 this year, many new players and financial repercussions, and yet the aesthetics of the newly-charted space striving to remain relevant to traditional channels in galleries, museums and collectors,

is it a flash in the pan because it's really about the format and financing or is it a huge influential shift in IP law? The lawyers will be the ones to make the most money.

Yet large film-industry players could bring in blockchain financing quite easily; but with what the Chinese gov't did earlier this year shutting down server farms it's clear that central banks can still influence if not control this mode of financing and make it a fragile mechanism,

so good old cash, debt and equity financing by established bankers will likely still be the standard until or unless cryptos become more than 5-10% of the global financial markets;

do you think that will happen in 5-10 years? Sooner? Ever? Has it already happened and is simply invisible / undisclosed??

Daniel Stuelpnagel Quite often in my yesterdays being in tech space we techies all know and called Bitcoin is nothing but a Ponzi Pyramid(MLM) scheme using Blockchain tech and still many top geeks in tech space agree to it, And even recently Paul Krugman too mentioned the same. as well, economist, Robert Shiller calls a “naturally forming Ponzi scheme”.

So NFT and its future still are slowly catching up to pull many into it. Time will tell where the financial reforms happen rather than telling, broadcasting everyone to jump into the bandwagon advocating it like using social media core strength of building lemmings' nature in the majority humans. Even when Social media came into existence, we used to speak about this psychological manipulation is going to happen, disrupting many country politics, and US Elections suffered recently because of that, and everyone knows it.

In that context, sighting those irregulations in bitcoin, China axed those initiatives or else they have a political system that picks up what's trending and does it fast.

Most of the business propositions coming out for US, UK recently have terrible repercussions on humanity and the future. And many don't even have any clarity, vision, to-fro, or introspection of those technological buzzes being advocated to lift some specific industry giants. One got to learn to bell the cat or it will take everyone into a catastrophic failure. There are small reengineering happening in education, research on tech space to handle these mishaps but the timer is already set in the nature of disruption, we are making "Choas industry" and it's scary.

For example this thing https://www.youtube.com/watch?v=5OtKEetGy2Y&t=1131s

Rohit Kumar certainly I can see that your take on the situation is grounded and accurate, albeit leaning towards some subjective value judgments,

only we could say that all of "capitalism" is a pyramid scheme in the same fundamental aspects,

as with so many elements of the employment market, corporate start-ups and private equity shenanigans, just like any effective Ponzi scheme, it works until it doesn't and then like musical chairs whoever is left out at the end eats the losses.

Arguably that tendency towards catastrophic failure tends to manifest in the safety-valve of a self-engineered global recession at least once every ten or fifteen years, engineered by the financial services industry, which in USA is growing towards almost 10% of GDP (much more if you count the government banks in their pockets).

The Fed printing $4 trillion in funny money last year and sweeping it under the rug makes the whole system so precarious as to be an ongoing MLM scheme, so I'd see cryptos as being a welcome addendum to the basic philosophy of 21st-century global capitalism: "grow or die."

Daniel Stuelpnagel I usually never do subjective judgments and have clear data points backing my argument as to why I write some thoughts. And if I elaborate on those specific data points then there will be a pretty long debate with research papers, market reports, etc which is uncalled for I feel.

And I once did a similar kind of debate here on biological, mathematical aspects of creativity, legal issues hurting creative space of artists, writers, filmmakers, rights of writers, Soviet's filmmaking, screenwriting influence to Hollywood film industry, and so on in here and many channels but have been constantly "subjected" to bullying, heckling or abuse so I just tend to hold my horse as of now. Since I feel people don't like to listen to the truth and love delusion.

I mean even filmmaking, in general, itself is on for a toss by the next 20- 30 years of technological advancements and geopolitical issues. Most American writers, artists here will be in old age homes and less social presence, many might suffer from Alzheimer's too while startups use their situation as wealth generators(Check the reports, for instance, to get startled). (SUBTEXT HERE).

I moved out of technology, startup, industry space to get into filmmaking for few core reasons too(Changing storytelling dynamics being one)

Now that doesn't mean I'm alter-ego of Noam Chomsky or such or go on advocacy of Marxist or Socialistic ideals to downplay capitalism. I'm just warning others to dig more to know where they are stepping in and sense the heat of the BITCOIN Bubble.

And GDP is a flawed system and is a misleading account of the economic welfare of many countries. China for instance isn't what they claim themselves to be, so is the US or even India.. I just thought to pinpoint Bitcoin at this moment.

Rohit Kumar coherent thoughts and points well-taken, I appreciate your level in a casual conversation and of course it's interesting to touch on a debate in this forum without going way down the garden path to the rabbit hole.

Maybe the NFT rapid bubble this year in the art world will quickly subside to a jaded consumer base and be the canary in the coal mine.

And we can likely expect that the film business will continue to run on financing via debt, equity and hard cash.

Daniel Stuelpnagel Believe it or not I actually pitched the idea similar to NFT when Blockchain was in baby steps to fine-tune a startup around valuing art, artists, writers, but my friends were like, "What do you know? NOTHING", was their response. They rejected the same when I pitched, "Remote working environment startup", like 15 years back, and here were are stuck in homes lol. I'm tired, disgusted of startup culture across now.

Past aside, now with NFT, there were few debates happened on Clubhouse too, but most startups in this space are just too strongly tangled to Cryptocurrency approach and Traditional financial systems will definitely come hard on them. Equity markets will flourish because of the saturation NFT will bring, but it's hard to chew situation when decentralized exchange will break/eat inside out of many financial systems

Rohit Kumar yes I think that's exactly right and many players will necessarily get burned or jaded once the bubble repeatedly flattens out, or perhaps it remains a specialized boutique players' sandbox.

Thanks for sharing this, John. The film industry is still at the very early stages of discovering the potential of blockchain. I have seen attempts in financing and distribution. Also, how will the flow of financing funds and revenues and recoupment be benefited by blockchain?

This lounge is more to do with distribution but Ill tackle funding a bit later . Suffice to say ...movie investors can make sure their money is being used for film-making purposes, and companies like MovieCoin have even created cryptocurrency for movie investors to be able to track their funds and keep film makers accountable as well..

And don't forget smart contracts.............more soon

Facet.TV is launching a large series of exclusive NFT offerings and welcomes other producers to contact us (team@facet.tv) if they are interested in participating. "Traditional" cryptocurrency has literally no place in film finance, despite the wish to the contrary, and literally dozens of attempts to use it since the advent of bitcoin. Why? because the purpose of a blockchain is "transactional security" plain and simple, and that never has been and never will be an issue in film finance. Further, it is a minefield of SEC issues. There are other reasons. However, NFTs, which are not new but currently coming into vogue, are in fact simple digital merchandise, and their use makes a lot of sense in ancillary rights for producers.