Fine, I’ll pay some respect to the crypto bros now.

In light of Bitcoin skyrocketing 350% in price since its slump in 2022 as of today, it seems fitting to put our tech hats on for a little bit.

Blockchain technology in art distribution isn't entirely new, yet it isn't firmly established either as Creators and investors continue to test the waters.

So let’s talk blockchain and attempt to make sense within our realms of interest: film.

In this week’s B-Roll, we will discuss:

• Blockchain & film financing

• I call dip on Decentralized Autonomous Organizations (DAOs)!

• Hollywood get more opps: Film.io 

  • Its NEW USD $30,000 Collaboration Grant

• No more nepo-film babies!

Lots of pros here, but where do investors and filmmakers draw the line?

What the Horse is Happening?

To be honest, I did not vibe with Jack Harlow until I watched his Chicken Shop Date with Amelia Dimoldenberg. He’s a unique one, that’s for sure.

Now, I’m even more invested (well, not in that way) that he’s among the artists that fully lean into blockchain to make a profitable online community.

• Block-chain supported Harlow’s Private Garden is Jack’s decentralized community, eliminating the interference of a third company.

• It utilizes Web3 technology to modernize artist-fan relation, offering exclusive perks: pre-show fan gatherings, seat upgrades, and limited-edition merchandise

• Also, major bragging rights.

It’s clear that blockchain can solve catastrophes: musicians can receive equitably royalty payment, curb third-party ticket sales’ portion and build a dang strong rapport with their fans. But where does film fit into all of this?

Producing films are more lengthy that can take months, even years. This is undeniably a stake and we’re not trying to argue against it.

But hold your horses, because something is brewing underneath this “novel” idea of film distribution via blockchain.

Everyone Fights Hollywood Nowadays: Film.io

If you missed our article a couple weeks ago, we spoke about A24, an independent film company, as Hollywood’s latest contender. It’s up for a challenge of changing the film industry filled with conglomerate studios forever.

Well, bad news for Hollywood again: more opps have descended.

And one of the strongest ones is Film.io, baby.

At the recent Sundance Film Festival, one of the most prestigious independent film festivals, Film.io made its incredible debut.

• World’s most powerful decentralized filmmaking ecosystem with over 16 million fans have taken stake it it. Wowza.

• The firm leverages blockchain technology for a community-drive Decentralized Autonomous Organization (DAO).

  • DAO is a structure without a central authority, where members own tokens and vote on initiatives using smart contracts for operations.

• Has $FAN Token that allows creators to submit film projects of all forms. Documentaries, animation, feature films, you name it.

• Users vote and review projects.

Current projects listed on Film.io with outlined stake! So. dang. cool.

Now, more exciting news for filmmakers: Film.io just launches a USD $30,000 Collaboration Grant! Okay, this is definitely not an advertisement, but make sure to take full advantage of this.

(I mean it would slay if they were to collab with The Produced, I guess)

Visit their website to learn more because you better get that dusting incredible project of yours off the shelf. Right now.

But we are The Produced, of course we’re not gonna let our investor readers hanging. Here is a Pitch Book summary of Film.io:

• Its latest deal type was equity crowdfunding with an amount of USD $51,900.

• Film.io is now in the start-up stage.

• Angel-backed is its current financing status

It also has a wide foundational applicability, offering a stand-alone solution to address challenges that filmmakers constantly face. There you go, a sustainable market.

Aaaaand, Bye Nepo Film Babies

Of course, films churned out by titan studios like Paramount, Disney or MGM, from its curating stage to production state, have already secured fundings.

They will for sure go into production.

They will for sure get distributed.

They will for sure obtain some extent of sales. Perhaps full?

They will for sure sideline many independent film projects that deserve to be at the forefront of this business.

Therefore, blockchain technology will bring major advances for the indie folks:

• Filmmakers can finally get a more equitable distribution of revenue with automated revenue splits with stakeholder. Transparency is the queen.

• Global access: films are able to transcend geographical barriers, allowing filmmakers to reach global audiences without restrictions.

However, championing blockchain technology does not negate the power that traditional film financing methods have. Aiming for a balanced fusion of both methods will enable creatives to scale their production and get their stories out there.

Because no one story will go unheard.

Rock, Paper, Scissors, Shoot and Shush?

With this technology, investors and filmmakers find themselves at a crossroads.

The allure of blockchain is undeniable, but where does one draw the line?

Can a film, equally invested by financiers and filmmakers, get the precise balance it requires: sufficient funds without compromising its artistic vision?

Platforms like Film.io grants its token holders and members important rights under smart contracts, such as voting rights.

This idea equates to them being directly involved in the film production stage.

On the surface, it might seem like a cutesie little collaboration - a shared Pinterest board perhaps? But the reality is far more intricate, raising questions about the practical implications of decentralized decision-making.

Smart contracts and voting rights imply democratizing filmmaking and can empower a broader community. However, it introduces a challenge in achieving:

• A consensus

• A creative direction that aligns with the expectations of both investors and filmmakers.

At the end of the day, neither parties would want to compromise.

Alright, that is it for today.

What are your thoughts on this?

And let us know if crypto is your thing because we’d love to learn more! In case you are rotting on your Netflix’s Watchlist, here are my recs this week:

Then of course, gotta sneak in The Produced’s curated Spotify music playlist for this week.

Okay, bye for real now.