Filmmakers bet on web3 to repair Hollywood film financing

Cutter Hodierne knew that the chances were against him. As an independent filmmaker who tries to guarantee financing for ‘cold wallet’, a crypto thriller about a robbery that went wrong, he was faced with the usual obstacles – Haaksvesters, an unpredictable industry and a financing system that chose large studios above new voices.

“In the centralized model of Hollywood, breaking is,” he said. “You never know if you have met the right person, whether your script has been overlooked, or whether your work is really being considered.”

So instead of taking the traditional route, he turned to the decentralized film industry. Often referred to as Film3, the use of blockchain technology, community votes and cryptocurrency uses to finance films and television series. In contrast to the traditional Hollywood system, which depends on centralized studios, agents and intermediaries, filmmakers can make direct contact with their audience and financing.

Hodierne posted 10 minutes of his film on the Decentralized Pictures website for assessment, where a community of producers, writers, investors and film lovers received a look at his Sizzle Reel. In exchange for assessing the clip, they earned $ film, decentralized Pictures’ token, the studio of which says it is “fuel for the platform. Users can set them on their favorite projects, use them to pay others to assess their own entries (as a reward pool), or simply buy access bowls for different requests for different requests for different fees for requests for different creative allowances.” “”

A reviewer in particular was particularly affected by the clip: “Steven Soderbergh, the king of the Heist genre, gave us his blessing,” said Hodierne.

Soderbergh invested in the film and decentralized photos followed on a subsidy, giving “cold wallet” enough money to make Hodierne’s film. Now screening as a project “Steven Soderbergh Presents”, the film is in selected theaters and for rent or purchase on Apple and Amazon Prime Video, and has collected respectable reviews.

“Hopefully it connects with viewers,” said Hodierne. “What excites me the most is that you can rent it on the chain with crypto and buying it is very suitable.”

It is again a big step in the journey of the dominant studios in the Film3 movement, decentralized photos and gall family, which are in the making of more than 60 films and TV series.

“We are building the studio of the future,” said co-founder Roman Coppola, co-founder of the decentralized photos, a member of the Coppola filmmaking Family. “In our company, American Zoetrope, and in my father’s work, we appreciate the community and a café culture where people come together, share ideas and compare notes.”

Coppola and others pointed out that the decentralized financing model is just as important as the community participation is that filmmakers can support, in particular those with distinctive voices and meaningful stories, by enabling them to circumvent the industrial hierarchies.

“The term we used-definitive, decentralized film financing representative a shift in film financing,” said Stacy Spikes, co-founder of the Moviepass film subscription platform during an interview with Decrypt At Eth Denver. “Distribution companies will still be needed to push films on the market, but so far, back-end participation was not possible. It is with smart contracts. “

The idea is already gaining grip. In 2024, Film3 History wrote when actress Mena Suvari earned a Primetime Emmy nomination for her role in “RZR”, a SCI-Fi series made by David Bianchi’s Exertion3 films in collaboration with the Blockchain-driven streaming platform Gala film.

Spikes compared the potential of decentralized filmmaking with previous independent and genre film movements.

“If you go with the community – especially black and brown communities or genre films – Web3 is a great place to drill,” said Spikes. “I feel that people who hesitate to invest will now do earlier, because they know they will get their money back.”

Hodierne also noted that by eliminating distributors and sales agents, all proceeds go directly to the filmmakers and decentralized photos, allowing them to reinvest in independent artists and future projects.

“As a filmmaker I have seen how centralized and fickle the industry is. This shift is a major problem, especially because streaming platforms artists pay less while they struggle themselves, “he said. “It is an exciting convergence for films, and for ‘cold wallet’, a crypto thriller, this feels like the perfect first step in opening that door.”