Today, while the entertainment industry is transitioning to Web3, the Web3 blockchain capabilities and non-fungible token (NFT) enterprise models will cancel administrative burdens for production studios and independent producers. Likewise, they will automate film finance, legislative, and distribution operations and turn each film into a smart-contract-managed equity venture.
FilmoCrat is bridging the film industry with blockchain mapping movie spread strategies using NFT film venture modeling. The NFT film ventures will give financiers an edge in allocating smart money in encryption structured films, which also means:
• Braking into the huge existing market prone to modernization
• Unlocking film-equity participation and rewards globally
• Scaling a decentralized business model while promoting inclusive economies
We address both the current and future market needs. While the system is in development, we strive to onboard producers with presentable projects and industry insiders, investors, mentors, and advisors with motion picture production and marketing backgrounds.
Regardless of where the web markets move, the film industry faces two things, decentralized finance and pandemics. When moviegoers migrate from theater to online, DeFi may obsolete the subscription models.
Savvy online users already engage with tokenized entertainment for interactive and economic reasons. With audiences leaning towards reward-sharing models, the film industry is the next to deal with socio-economic change. Rather than opting for a streaming subscription, fans will partake in film support, including project voting, movie PR, and participation in profits, not to mention a fun, immersive experience. That, in short, is creating an opportunity for producers to gain investors backing and audience coverage simultaneously.
As a result, filmmakers will have to look for new platforms to let them move from passive to online-interactive audiences. But there is good news. FilmoCrat is developing a Movie Launch Theater to allow members to review pre-production trailers for upcoming movies, vote for them, and receive royalties. The beta viewers' votes turn into shares in films, giving investors an early insight into the after-production viewing rates. So, if you are a financier, or you feel like a beta audience fan or have a cinematic project to submit to the Teater, please be the first to sign up for a listing.
The Smart-Asset-based movie-spread models will allow independent producers to thrive. We have a patent-pending system that helps filmmakers, investors, and cinematic fans boost film proliferation with easy-to-use smart-contract tools. We notarize investors' and voters' rights to profit in synergy with VOD streaming and segregated revenue dispersal, clearing the related payments in electronic cash. Please find out more at https://filmocrat.com/
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A recent Hollywood Reporter article highlighted the issues in using NFTs for indie finance. It’s a good read for anyone interested in this space. My key takeaway: “Major challenges remain, which could prevent NFTs from gaining widespread acceptance in the film industry. Most non-fungible tokens are purchased using Ethereum or Bitcoin, cryptocurrencies which are both notoriously volatile — not a favorable attribute for customers looking to buy movie tickets or pay monthly subscription fees — and environmentally problematic due to the extensive computer power needed to run the underlying blockchain technology.”
It is likely that NFTs as collectable merchandising/collateral for investors will be how crypto is more widely used in film finance. But if any of the numerous online film platforms now promoting NFTs for equity financing succeeds in a significant way, it could open up a viable option for more indie producers.
Interesting platform Casimir. Good to learn about your company. Truly exciting times in finance, crypto, blockchain, NFT developments. Look forward to updates on this sector of the industry.
Jack Binder, Producer | FilmBudget.com Worldwide Founder
The good news is that we do not rely on cryptocurrency markets. FilmoCrat is an NFT film-funding and film-releasing platform that provides structured access to film equity finance. The Platform turns each NFT released movie into an independent enterprise - with production outlays, VOD streaming revenue, investors' digital shares, and the corresponding ROI sent directly to stakeholders, clearing payments in national currencies via API.
Non-fungible tokens (NFT), commonly used to prove owners' rights to property such as real estate or art, have a blockchain notary purpose but no asset management functionality. The NFT model, within the FilmoCrat system, has undergone further evolution. We bring new extended NFT management functions that structure film equities and ROI for stakeholders, including beta audience interactive engagement as project validators. A native crypto-value conveyor, which is used to trigger smart-contract transactions internally, is not subject to crypto market fluctuations.
Then, the NFT Enterprise system provides market insights, members interactions, and a decentralized basis for creating film-centric, tokenized economies – where all incoming and outgoing transactions flow in fiat currencies. Crypto users, however, have the option to utilize their crypto funds. This cutting-edge NFT model will broaden filmed content offered in the media and draw new market payers to new prolific projects on the Internet as it is today and on the Web3.
Honestly, having been in and around the "crypto-space" since the very, very beginning, I have to say without qualification that (2) those who deem cryptocoins as a feasible replacement for currency simply don't understand money, economics or politics, and (2) anyone who asserts that NFTs and other block-chain technology will relieve producers of administrative burdens is naive about the financial, legal and economic structure of film production, as well as the actual crypto tech. The chief (almost only) advantage of crypto is transactional security, which never has been and never will be a concern in film finance. The revealing - and funny - thing about NFTs is that, essentially, they are a digital analog to a physical document and the fact that is all they are is why they are useful. They save space and are hard or impossible to fabricate. Which makes them, really, no different than a physical certificate apart from the cache of owning one. That fact, combined with the current craze over crypto, makes them a potentially viable medium for finance, etc. but that is NOT different in any any fundamental way from good old fashioned sales of securities. In that context they are, in fact, just securities and subject to all the legal pitfalls of SEC regulations.
Colette "ByFilms" Byfield Could you share the info of the Netflix exec or at least the poll? We should help them get more people, don't you think?
Super interesting!
Thanks for sharing! This is something I've been thinking about recently too... In the videogame space also
Did you see this post by another member who created his own NFTs?
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The records braking valuation of digital art and collectible NFTs are mainly associated with cryptocurrencies and hyper-target publicity. Still, when the associated psychological hype vanishes, is there anything of value left? The most optimistic answer is the foundation for decentrally financed (DeFi) economies.
Hence cryptocurrencies were born on blockchain and rendered extreme volatility; cryptos as a basis for film finance have a little or no go. However, when detached from speculative markets, blockchain-type digital ledger finds prolific use in automating the IT, accounting, legal, administrative, and information-sharing apps. That occurs in supply chains and production management processes, which, by the way, do not need cryptos or hype to become effective. In synergy with intelligent contracts that can handle customized events, hype-less blockchains make ground for streamlining some niche economies using, in fact, traditional money. And the film industry is among them.
Blockchain has developed instrumental technology over the last couple of years. Keeping entrenched in the old good administrative patterns while digital infrastructures expand cannot help much. Custom-tailored Smart Contracts can unlock broader access to film equity funding, manage copyright, profit rights, and distribution legal aspects, automate revenue and ROI dispersal for producers and financiers, and even reward audiences.
The NFT ownership concept, which evolved on a public blockchain using cryptos, goes further on permissioned digital ledger. It is getting converted to a Smart Asset film token, turning each project into an independent film venture. Creating a multiparty film finance model subject to segregated ROI provides a basis for a more intelligent infrastructure while processing all incoming and outgoing transactions in fiat electronic cash.