In a world where it is predicted that there will be no sector left that blockchain technology cannot reach, signs of the Hollywood film industry’s rapprochement with this technology are becoming more common. In particular, the rapidly increasing popularity of NFT platforms and projects, which reshape the art world with creative formulas in terms of democratization and inclusivity, seems to accelerate and enrich this rapprochement process.
After it was announced in the summer that Anthony Hopkins’ new movie would be released as an NFT on the NFT viewing and distribution platform Vuele, a new initiative of the famous Coppola family will test how the Hollywood film industry will evaluate the potential of blockchain.
Decentralized Pictures (DP) is an initiative founded by Francis Ford Coppola’s son, Roman Coppola (author of Moonrise Kingdom and The French Dispatch), Michael Musante, director of the famous American Zoetrope production company owned by the same family, and entertainment industry veteran and award-winning Leo Matchett. A non-profit organization established to support emerging independent filmmakers and filmmakers from underprivileged / neglected communities.
The project, which is preparing to emerge after four years of preparation, is actually a decentralized platform that tries to select the film whose production will be financed and supported using blockchain and tokens. It is aimed to leave the decision-making process of which film will be financed to a decentralized community, paving the way for films that will not receive the attention they deserve under Hollywood conditions.
How does the process of selecting movies on the platform work?
Any artist/producer who wishes to join the platform to submit their film and pays a fee in tokens, which is distributed to community members who will evaluate the film for expressing their opinions about the film through a smart contract. The projects with the highest votes by the community advance to the finals, and the DP selects the winners, but it has been stated that in the future, this last step will be left entirely to the community. The owner of the winning project is rewarded with material and moral support; The goal is to fund independent artists and open the doors of connection.
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