I posed to AI these two film-industry questions:
How would film industry professionals answer the following question?
Well-constructed blockchain agreements between producers and talent would impact the indie film industry in what way?
And here’s how it responded:
A) It would have no impact on the indie film industry.
B) It would increase the cost of production and distribution for indie films.
C) It would decrease the cost of production and distribution for indie films.
D) It would make it more difficult for indie filmmakers to secure funding and distribution deals.
Correct answer: C) It would decrease the cost of production and distribution for indie films.
Explanation: A well-constructed blockchain agreement could help eliminate middlemen intermediaries such as agents, lawyers, guilds and unions in the indie film industry, which could lead to a decrease in the cost of production and distribution. By removing intermediaries, filmmakers could have more control over the distribution of their films and potentially earn a larger share of profits. Additionally, blockchain technology could make it easier for filmmakers to secure funding and attract investors by providing a transparent and secure way to track financial transactions.
#film #filmmakers #indiefilm #filmproduction #producers #ai #chatgpt #disintermediation #middlemen #talentagency #guilds #unions #sag #aftra #iatse
Wow. Interesting that it gave contrasting responses in both B and C. Just goes to show that storytellers have little to worry about.
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Leonardo, the real interesting part of the response is that I did not ask for the "correct answer" (C). It offered that one up all on its own!
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Once again, blockchain in film is entirely pointless and this particular structure is susceptible to myriad serious legal and jurisdictional issues. For an in-depth analysis of the applications of blockchain in film, see https://independentproducersguild.org/blockchain-in-the-film-industry
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Shadow's article looks like a solid argument that blockchain offers little (if any) value to indie filmmakers. If there are any actual examples of blockchain leading to decreased production and distribution costs, I would love to see them.
Shadow Dragu-Mihai, Esq your article was very well thought out, and insightful. I agree with many of the points you made. However, I believe the 'sea change' you mentioned is inevitable and not unlike the music industry's transformation, may begin sooner than expected. Disintermediation is already taking place and the desire and/or need for that may drive further innovations in the area of smart contracts.