Daily feed｜NFT technology is about to completely revolutionize the operation model of the film industry? The lifting of funding restrictions allows local films to shine!

(Original Post: IG: myttt.eth)

Hong Kong's local sketch movie "The Edge of the Mountain" recently exceeded 8 million at the box office. Although the film is a low-cost production, it has successfully captured the hearts of many Hong Kong people with outstanding performance of the actors, fresh and funny stories, and the beautiful scenery of Hong Kong. Heart.

The team also made it clear that the box office of a movie can only be called a return to its original budget when it reaches 5 million. Now that the box office has exceeded 8 million, it can be regarded as a wish.

However, it is believed that "Yuanlu" was able to break out of the siege. Many local films did not even have the opportunity to shoot because of funding problems. I know that the "Yuanlu" team has also gone through untold hardships. Care about the willingness to take a risk, only to have this result.

The good news is that this dilemma will be completely broken with the popularization of NFT technology.

In the previous article "Phygital", I mentioned that NFTs can be used as exchange certificates for products, allowing merchants to sell NFTs in advance and then ship them as needed.

This time, the concept is similar. Filmmakers can issue film NFTs to raise funds for filming and filming, and customers who buy NFTs can exchange NFTs for movie tickets after the filming is completed. It is equivalent to selling tickets first and then filming.

To give an actual example, at that time, the screenwriter of "Fate of the Road" already had a script and a role candidate. After the team confirms, you can first write the script outline and casting to the blockchain, and then issue NFTs at the estimated cost. NFT can be the movie poster of "Fate", and the empowerment behind NFT will also be written into the blockchain smart contract to ensure the rights and interests of buyers.

For example, based on the 5 million box office return, the film party can issue 20,000 NFTs, each selling for $250, including a movie fly, souvenirs, and premiere meeting, etc.

Of course, the actual operation will be more complicated, because the interests of different people are involved, but NFT definitely has this flexibility and tolerance. Moreover, many people only entered the market after hearing the praise of "Fate", so the actual NFT pre-sale execution will be adjusted again.

One might ask, how is this different from previous crowdfunding?

In fact, the original meaning is the same, the difference is the processing method. NFT is the best way to raise funds today. It can openly and transparently write down the rights and interests of buyers and sellers. It can even be an investment in foreign countries. That is to say, as long as I have a story, I can issue NFT to raise funds. After red, it is divided into NFT.

However, according to Hong Kong law, if people who buy NFTs can share the profits, there may be legal risks (illegal fundraising). Therefore, the method here will be made into the pre-sale of movie tickets, that is, with NFT as the protagonist, the buyer will first own the NFT of "Fate of the Road", and when the film is completed, they can directly become the audience and enjoy different rights and interests.

It is worth mentioning that the plasticity of NFT is definitely more than the above operations, which completely seems to be how the issuer wants to play. You can even let buyers vote to decide who to invite to play the protagonist, and let some of the script be written by the holder.

The current practice of the famous Hong Kong YouTube channel "Try It For Real" is similar to this direction, and it is a very advanced move.

All in all, everyone has unlimited ideas in their minds, but because of limited funds and connections, ideas often cannot be turned into reality. After the launch of NFT, the top-down operating structure of the film industry will be completely broken, and will gradually transform into point-to-point aggregation and implementation in the future.

Of course, there is still a long way to go, but as said in the movie "The Edge of the Road", we must bravely explore the distance in order to discover the beauty and possibility of the distant mountains.

Finally, as a movie lover, I really hope that NFT can open up a new movie world, so that more local / niche movies and cultures can successfully realize their dreams.

If you like it, you are welcome to spread it to the filmmakers, actors, and producers around you.

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