Film Industry Adopts Blockchain Technology with Moviecoin
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Originally Posted On: https://medium.com/@moviecoin/film-industry-adopts-blockchain-technology-with-moviecoin-119c235e7bf8
Funding films has often been the domain of big studios, wealthy individuals, and trusts. Think old guys in a stuffy room deciding what gets made for whatever reasons they might have. But those Weinstein-like days are gone, make way for the future because it’s coming. Moviecoin is changing the landscape by decentralising and democratising film finance. Whilst there have been a few attempts to bring blockchain to blockbusters, Moviecoin stands out from the crowd as a different beast offering both consumers and creators more control and autonomy. On Moviecoin.com anyone can invest in films or upload films for funding on the blockchain permitting more people to participate in a previously closed industry. By lowering the barrier to entry Moviecoin is allowing more people to benefit from the potentially lucrative world of film funding and crypto. As crypto’s mass adoption looms on the horizon, is this the beginning of fan fuelled film financing on the blockchain? We think so.
The crypto tsunami is coming….
Unless you’ve had your head buried in the sand for the last couple of years, you’ll know that the crypto tsunami is coming whether you like it or not. No longer is it just the IT nerds cashing in on crypto but investment banks, Millennials, Boomers and probably your grandmother too are all getting involved. Whether you’ve been following the meme coin news, bought your first NFT or invested in Bitcoin in 2015 you’ll have noticed how blockchain culture is trickling into everyday life at a rapid rate. How can a single tweet from Elon Musk can wipe billions from markets? Are the traditional financial markets quaking in their boots? Some certainly are, as we see some of the oldest investment banks like JP Morgan getting exposure to the crypto markets, it signals to other industries that it’s time to adapt or get left in the dust.
The investment strategist and well-known crypto commentator Raoul Pal says:
If Raoul is right, which he often is, we’ll be seeing blockchain technology seeping into almost every aspect of life. The NFT scene will boom not just for its art but for being a secure way to attach security and trust to digital assets, more on this and NFT’s with utility further down. The potential benefits of blockchain technology and NFT’s are undeniable so it’s no surprise that industries previously steeped in cumbersome tradition are getting a well needed blockchain reboot.
Moviecoin; film financing way forward
Moviecoin is bringing film funding and decentralised finance (defi) to both independent filmmakers and larger budget films. With several high-profile films already on their roster Moviecoin seems a promising way forward for film financing. Moviecoin.com will allow any budding film producer, director, or writer to finance their own movie. By decentralising the world of film finance Moviecoin is giving film makers and consumers more control.
The Moviecoin.com platform already boasts some top films with Hollywood royalty. Russell Crow stars in Prizefighter: The Life of Jem Belcher which wrapped filming in Malta in November 2021. Mel Gibson boards the family adventure, Boys of Summer to name a couple of the top films already on Moviecoin.com with many more in the pipeline.
NFT’s have been the latest crypto craze, are they one giant Ponzi scheme or do they really have value? You may even be asking, what for crypto’s sake is an NFT?! How is Melania Trump launching her own NFT’s and how did Grimes make millions by selling NFT’s!? Well, to break it down real quick, NFT stands for Non-Fungible Token. The non-fungible part basically means that it’s unique and cannot be replaced. On the other hand, a fungible token would be something like a dollar, replace one dollar with another dollar and you still have the same value. Non-Fungible is more akin to the Mona Lisa, that is not replaceable, whilst there are many copies and imitations the one true Mona Lisa stands alone. An NFT is a digital way of ensuring this uniqueness using the blockchain and cryptography. Many experts believe that the technology is fundamentally revolutionary, but a picture of an ape with a banana on its head won’t change the world in a hurry, so can we use NFT’s to our advantage?
Moviecoin NFT benefits
Moviecoin has come up with a rather clever system for their NFT’s giving them real world value. If you own a Moviecoin NFT, you’ll also own a profit share from the film it’s from, potentially providing the owner (potentially you) with royalty payments forever. Moviecoin is part of the growing trend of NFT’s with actual utility, not just a bored ape but something that can really make you money and create passive income in the long-term. Attached through a smart contract to a real-world profit share in a film, the NFT’s will be images and frames from the film, props from films, with some owners being sent the actual props IRL. Yet another example of the digital NFT being linked to assets outside of the crypto world adding more value to the NFT. I mean imagine owning Rocky Balboas boxing gloves as well as the NFT of them.
In an industry first, Moviecoin.com have developed a revolutionary three-dimensional primary, secondary and utility based NFT marketplace. Not only will movie funders and movie makers benefit from the secondary sales of the NFT’s, but when you buy a Moviecoin.com NFT, you are also buying an unlimited profit-share of the movie forever. Well, at least until you want to sell it on.
As the crypto tsunami floods into more and more industries, will you be riding the wave or left stranded on the shore? If history is anything to go by, the early adopters of new technology are the ones who stand to gain the most.
Moviecoin are set to have their presale and ICO in January 2022 with an NFT drop of Prizefighter props and memorabilia coming soon after. Follow them on Twitter, join the Telegram or Discord server for updates and latest news, all links on www.moviecoin.com
Moviecoin is built on the Ethereum blockchain using ERC-20 tokens allowing easy integration into an already established NFT and token marketplace. The NFT’s will be available on Rarible.io and Opensea.com. Moviecoin is fully audited by Solidity and being built out of London by an experienced, fully doxed team. You can find out more at www.Moviecoin.com.
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