NFTs in the Film Industry

NFTs and blockchain technology are the game changer in most industries dealing with intangible content. But there’s a lot of new exploring about how NFTs can shake up traditional intangibles like music or movies.

TL;DR

Movies are… well, they aren’t new. Cinema is about a hundred years old. It saw the light toward the end of the 19th century and continued to grow, adapt, and take on new genres throughout the 20th century and into the 21st.

Of course, making an excellent video on your smartphone isn´t the same as making a movie. Making a movie is a staged process that typically goes as follows: development, pre-production, production, post-production, and distribution. And throughout each of the stages, there’s a lot of signing-off going on.

From casting actors to play the part to working with the screenwriters that write the story, choosing wardrobes for the different scenes, scouting locations, buying (or renting) equipment, finding a team of assistants for the director, and finding assistants for the director´s assistants (yes, these exist) and, ultimately, getting the paperwork done for distribution. Oh, and don´t forget all the finance rounds with producers.

The point is, movie making is a lot and after the past couple of years, the NFT boomed a myriad of projects looking to converge the field of film and distributed technologies. This fusion sprouted new ideas for the movie-making process; from crypto-funded movies to DAOs looking to become the producers of the future.

NFTs are applicable to several parts of the recently mentioned movie development stages. But the first appliance for NFTs in this field is for the production stage.

The pinpoint for any NFTs project is an engaged community and community building is no easy task. Sure, there are a bunch of channels through which to connect with newcomers but you have to go much farther than merely onboarding users. What binds them together is a common vision and a narrative upon which to build.

What´s left to see is if there´s space for the smart contracts to formally deliver work-related contracts within the movie production team. With all the signing-off mentioned above, smart contracts could potentially replace word-of-mouth agreements, common to traditional movie making.

Follow our social media channels to stay up to date with the latest news:

Related posts:

The release of pip-installed Deephaven is a game changer for data scientists. This new way of connecting to our server allows you to build and develop your projects locally in a Dockerless…

I saw the best minds and machines of my generation rise to the high-water mark of shared democratic purpose, only to watch the waves roll back, down through the dank familiar sewers of inequality and…

Suvidha Foundation or Suvidha Mahila Mandal is an NGO or a non-profit organisation that was established in 1995. It works every day towards building a better world . It is an organisation that helps…