Next week, the stars of the film world will descend on the French Riviera for the Cannes Film Festival—and דעקריפּט will be there with them.
Alongside the Festival, דעקריפּט צוזאמען מיט פּאַרטנערס פפקסנומקס און דיסענטראַלייזד פּיקטורעס will host a day of discussions on די צוקונפֿט פון פילם, exploring how Web3 technologies such as blockchain and NFTs will change the face of the industry.
Web3 is poised to shake up every stage of film production, from financing through to distribution—and there are filmmaking pioneers already making use of Web3 to fix long-standing problems with the industry.
Financing and production
Cryptocurrency and blockchain are intertwined with the world of finance, so it’s not surprise the first area where crypto has made its presence felt is in raising funds to produce films.
דעקריפּט itself has experience of this; your correspondent was one of the first to trial FF3, a crypto-powered crowdfunding platform with NFT tier rewards. Thanks to a successful fundraise, the short film “The Dead of Winter” will be going into production later this year.
Lessons learned from “The Dead of Winter” will inform the development of the FF3 platform as it gears up for larger raises including feature films, co-founder Phil McKenzie told דעקריפּט. “We all learned a huge amount,” he said. “People really liked the concept and the platform and the vision, but the user experience and the accessibility, and also some of our marketing and focus, we really need to change.
He explained that in particular, it’s a “waste of time” trying to onboard people from outside the crypto space, and that the platform would shift its focus to people who are already experienced crypto users and “want to support other creators within that space or who are coming into Web3.”
Director Miguel Faus, who’s launched an NFT crowdfunding campaign for the feature adaptation of his short film “Calladita”, agrees. He דערציילט דעקריפּטthat it’s currently “difficult to try to onboard someone who has never had crypto into buying their first NFT.”