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Whenever you think about Blockchain, you likely think about things like the world of finance. Maybe things like NFTs and gambling. That makes sense because Blockchain is connected to cryptocurrency and that has been making waves in the world of finance. However, the technology around blockchain has been used in various industries. The film industry has benefited from blockchain.
Movies and blockchain wouldn’t go well together at first glance. However, the film industry really can benefit from blockchain. There are plenty of benefits to having a bit of decentralization when it comes to the film industry. All while still keeping the same level of action and immersion that fans have come to expect from the film industry! Here are some of the ways that blockchain is helping the film industry make better movies for their audiences!
Blockchain Success Story: The Example of Crypto Gaming
Movie directors like creating scenes around casinos and gambling, and guess what? One of the best examples of a blockchain success story is in that field, thanks to the emergence of crypto gaming. There are plenty of successful cryptocurrency casino stories that remind people why blockchain works. Blockchain is decentralized and is designed to be extremely open and easy to work with. For example, many crypto-gaming casinos use Blockchain for payouts.
This is because blockchain payouts are much easier to use. Especially when they are compared to the payouts made by traditional banks. Gamblers can see their winnings move around in real-time. Their winnings get into the cryptocurrency wallet fairly quickly. All without the delays you see at traditional banks.
Blockchains are the foundation for nearly every cryptocurrency. It’s the foundation for every casino that uses them. If they can do so much for the gaming and gambling industry, then what can they do for the film industry?
What about Filming? It Gives Audiences and Filmmakers Better Engagement
One of the biggest benefits of Blockchain is the connection it can provide people. Blockchain in the film industry promotes disintermediation. This means that creators and consumers can talk to one another. They can talk in ways that haven’t been seen before. The filmmakers can do the film marketing and distribution themselves. Plus, they can get a bigger cut of the profits. Rather than having to rely on intermediaries
For example, filmmakers can upload their movies to a platform that supports blockchain. Then, they can get paid by consumers directly. If a user wants to watch that specific movie, then the payment goes down the blockchain and towards the filmmaker and only the filmmaker. Many fans can even pay for access to the movie using cryptocurrency.
Blockchain Protects Copyright
One of the biggest problems that many filmmakers and creators deal with is copyright. In the digital era, it is much harder to prove ownership of an idea. Especially if you are dealing with piracy and other forms of copyright violations. However, recording their ownership rights on a blockchain provides filmmakers with some security. The content on the blockchain isn’t able to be edited, manipulated, or changed in any way. So the ownership rights of the filmmaker remain the ownership rights.
It is much easier than having to rely on third-party organizations and lawyers to defend against fraud and other copyright violations. Blockchain technology allows filmmakers to talk about the ownership of their property once. Then they don’t need to worry about the process again because everything on the blockchain can’t be edited or changed.
Blockchain Allows For Better Film Distribution
For smaller filmmakers, it can be extremely hard to get an independent film off the ground. The massive studios, distributors, and other organizations control the movie industry. If a smaller filmmaking company isn’t involved with them, then they won’t be able to promote their movie as well as the big-budget releases. However, blockchain can come to the rescue again.
Blockchain technology as well as NFTs can allow for more interactive promotions of films. For example, some NFTs divide the entire movie into certain clips or scenes. Then each NFT allowed the holder to watch that specific part of the film. Blockchain distribution can also help filmmakers with marketing as well, allowing moviegoers to have unique experiences.
Blockchain Is Giving Power Back To The Filmmakers
Most of the money goes to people other than the filmmakers when a film is successful. Actors, screenwriters, and the people involved in the film get their cut. Additionally, even more money goes to the marketing teams and studios that published the film. This isn’t a bad way to make a movie, but for many small filmmakers, blockchain is a better alternative.
Blockchain puts the money and the experience of making a film into the hands of the creator. Additionally, using blockchain allows for the enjoyment of the film to become more personal for the watchers as well. That way, everyone wins!