Tokenization and Film Financing
J.D. Seraphine, Vision Tree: : We’ve had some success in the past with crowd funding so we were looking to use a similar approach to get the audience invested and engaged in the project. We created a security token which means the people who buy the tokens to own a stake in the movie itself. Simultaneously, we created a utility token which has a specific application within the ecosystem of the platform. Users can earn utility tokens through engagement on social media and can use them to vote on things such as choosing which will be the official trailer.
Daniel Baur, White Rabbit: Over the last twelve months we’ve seen many companies now coming into this space and raising financing through tokenization.
As a producer, looking to finance your film is always the biggest concern. Crowd funding has some limitations. There’s typically a cap on how much you could raise or an individual can invest. With blockchain technology, investors have more possibilities to participate in the project and have a greater guarantee of a return on their investment. It will attract more investors and bring an influx of money into the independent market.
Smart Contracts
Matthew Rappard, Three Lefts: With blockchain you can transport the variables from a contract that matter for the economics of the film, such as how many “points” go to a particular actor or how residuals are paid. Whenever that film is played, it triggers a variable in the contract and distributes the revenue to each recipient automatically.
Read more on
IFTA Holds Blockchain Webinar | Independent Film & Television Alliance
http://www.ifta-online.org/ifta-holds-blockchain-webinar
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