I’ve heard of one independent film that had a music star in a lead role that funded 1/3 of their film’s $3M budget via the sale of an NFT that the music artist generated. The producers leveraged that star power to push the NFT out, they put in a third of the budget themselves and utilized tax incentives for the last third. So the NFT was a risk reduction strategy. They are shooting the film next year and it f it works they plan on doing more. But they still have exposure on a third of the budget.
NO, It's a distraction full of extra work, legal minefields. Instead of finding investment for a film, you have to find investment for an NFT as well. Crypto people don't invest in films. It's a measure of the desperation of indie filmmakers that they grasp for these ideas instead of trying to figure out the business they are actually in. For the IIPG analysis: https://independentproducersguild.org/blockchain-in-the-film-industry
Sam Sokolow I would love to know who that is, I can't find a trace of it on the internet. But it sounds like they just sold NFTs as a merch initiative - they could have sold music downloads it's pretty much the same thing right? So we'll see how that works out. The only film in history I have actually heard of was about 18 months ago a small budget French film used NFTs basically as share certificates. Can't do that in this country legally without going through a lot of hoops.
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Hey Ron! Hope you are doing well. I’m curious for any responses that come in here as well.
Likewise, Amanda Toney. I've heard people talk about funding their projects with NFT's, but I don't know much about the topic.
Here are two posts about the topic:
www.stage32.com/lounge/fundraising/Revolutionizing-the-film-industry-thr...
www.stage32.com/lounge/transmedia/My-experiment-of-NFTs-and-transmedia
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I don't even understand them,Ron!
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I’ve heard of one independent film that had a music star in a lead role that funded 1/3 of their film’s $3M budget via the sale of an NFT that the music artist generated. The producers leveraged that star power to push the NFT out, they put in a third of the budget themselves and utilized tax incentives for the last third. So the NFT was a risk reduction strategy. They are shooting the film next year and it f it works they plan on doing more. But they still have exposure on a third of the budget.
NO, It's a distraction full of extra work, legal minefields. Instead of finding investment for a film, you have to find investment for an NFT as well. Crypto people don't invest in films. It's a measure of the desperation of indie filmmakers that they grasp for these ideas instead of trying to figure out the business they are actually in. For the IIPG analysis: https://independentproducersguild.org/blockchain-in-the-film-industry
Sam Sokolow I would love to know who that is, I can't find a trace of it on the internet. But it sounds like they just sold NFTs as a merch initiative - they could have sold music downloads it's pretty much the same thing right? So we'll see how that works out. The only film in history I have actually heard of was about 18 months ago a small budget French film used NFTs basically as share certificates. Can't do that in this country legally without going through a lot of hoops.