In recent years, a significant increase has been observed in film festivals, blockchain and crypto-supported film projects and startups.
Web3 and blockchain technologies continue to innovate, gradually integrating with legacy systems. Changes have been observed in many legacy initiatives, especially in the blockchain and crypto space. Music projects, which frequently come to the fore in the crypto money market, became one of the prominent ones in this field. Recently, the movie industry has also been caught in the wind of blockchain and crypto.
Blockchain and Crypto Projects Attract Attention at Film Festivals
Fuzzy Head, which is funded through blockchain-powered crowdfunding platform Untold.io, will premiere this year at the Slamdance Film Festival.
Untold.io CEO Ali Aksu gave the message that filmmakers can use blockchain technologies. Speaking on Fuzzy Head, Aksu stated that thanks to blockchain technology, investment opportunities can come from different investors.
As Aksu mentioned, the films that come out with a capital and cost have the potential to reach more audiences thanks to crypto and blockchain technology. Apart from accreditation, membership, registration, identity requirements, crypto can provide great convenience to filmmakers in terms of investment.
Aksu also said;
“The most important aspect of crypto/blockchain integrations in the movie industry will be to open up a new class of assets to investors of all kinds through increased fan engagement through compatible security tokens and NFTs.”
Previously, a blockchain platform called Filmio participated in the Sundance Film Festival in 2019. Also, Liquid Media Group announced the first blockchain movie stream at the Sundance Film Festival last year. In 2022, Russell Crowe chose to use NFTs to partially finance his movie Prizefighter.
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