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NFT approves Web3 movies: The future of Hollywood will be less centralized – Mail Bonus

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Traditional film operations are centralized and have been around for a long time. A few major movie companies and streaming services run the movie industry worldwide.
Nonfungible tokens (NFTs) and cryptocurrency-focused filmmakers could change the industry.

Some standalone projects show how Web3 movies are made, while others show how to share them. Distributed streaming shows how community-based filmmaking and exhibition could work in the future. Thanks to NFTs, the Film3 ecosystem will soon be ready for prime time. Even though the crypto industry is still new and has a lot of issues to work out, it should be regulated.

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Miguel Faus used the NFT images from his short film Calladita to fund a $1 million feature film of the same name. Faus used fiat to raise money for his short film in 2019. Today he is trying to sell NFT bundles to pay for the film. “$950,000 is on the agenda. To date, sales of NFTs have brought in $650,000. Faus says all money should come from NFTs.

Mark O’Connor, who was on a panel at Cannes, showed off his first Web3 distribution concept, the Stalker Movie Pack, at the film competition.

Stalker was made by O’Connor, who also directed it (2012). In 2014 The Winner was released on DVD in Ireland. O’Connor wanted the image to be unbiased, so she didn’t post it everywhere. After eight years and a thriving NFT ecosystem, O’Connor still owns the intellectual property and thinks this crowdfunded film “will be the future of film distribution.”

O’Connor says that managing intellectual property is important. IP is often lost by Web2 filmmakers. Losing the rights to a film means losing the money from it. O’Connor believes the company uses a “waterfall system.”

When a movie is released the old fashioned way, the theater gets 70% of the money and the distributor gets 15%. O’Connor also notes that there are sales fees and other costs. If a movie does well, the director can’t get any of the money.

Faus told Magazine that filmmakers create their own intellectual property (IP) and do the hard work, and then they are hired as employees on their own projects. “Writers and directors like me start with an idea, come up with an idea, write a script, make a movie and direct it. However, we do all this work for the company, producer or financier who owns the film, which is not always a great system.”

Faus believes that Web3 filmmakers could benefit from community support that is not centralized. When a group of people who agree with the film support it, it is given a “green light”. Faus has no studio managers or rich gatekeepers:

Filmmakers and their communities can collectively decide how to monetize and strategically use IP and film assets.

Web3 cinema for movies?

Filmmakers who want full control over their intellectual property need a decentralized place to stream their projects, as well as a neutral technology solution that doesn’t try to make as much profit as possible. CEO Mihai Crasneanu says that’s what Beem does. “You have an IP. “You have the keys, so you don’t need us,” Crasneanu tells Magazine.

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There aren’t many ways to stream and distribute Web3 online. Crasneanu said that Beem is neither a platform nor a place to go on vacation. It’s a full set of tools that allows businesses, content creators, and distributors to build their own platforms. He said: “We are not a platform because we are not a place. Beem still uses Web2 technology, but Web3 content can be broadcast in HD. Creators can upload their movies and show them live. Beem broadcast Web3 sessions from Cannes in real time.

Creators on platforms like Beem can use the tools to build online communities, charge followers in fiat or crypto to watch videos, and let group members with certain NFTs go through a token gate. Beem’s customers are filmmakers, not moviegoers. In Web3 areas, all funds should be managed by the filmmaker and their team. This differs from the “waterfall method” where they are paid last.

O’Connor believes the company uses a “waterfall system.”

When a movie is released the old fashioned way, the theater gets 70% of the money and the distributor gets 15%. O’Connor also notes that there are sales fees and other costs. If a movie does well, the director can’t get any of the money.

Faus tells Magazine that filmmakers create their own intellectual property (IP) and do the hard work. After that, they become contractors on their own projects. “Writers and directors like me start with an idea, come up with an idea, write a script, make a movie and direct it. However, we do all this work for the company, producer or financier who owns the film, which is not always a great system.”

Faus believes that Web3 filmmakers could benefit from community support that is not centralized. When a group of people who agree with the film support it, it is given a “green light”. Faus has no studio bosses or rich gatekeepers: filmmakers and their communities can decide together how to make money and use IP and film assets strategically.

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