It is well known that major franchise blockbusters dominate movie theaters. But while this was once a quirky concern, it is now an accepted fact. At the same time, we are seeing a wide variety of talent both on and off the screen, and Web3 has something to say about both.
Women and people of color have made great strides in the film industry over the past decade, according to a report from the University of California, Los Angeles. The number of non-white actors playing lead roles and receiving copyrights has quadrupled since 2011. The number of people of color in the director’s chair has tripled over the same period.
The percentage of women in leading roles has also doubled during that time. The most promising statistic, however, is that the number of female drivers has increased fivefold in a decade. For many moviegoers, this is not a surprising statistic. Talent like Greta Gerwig (
However, in the spirit of Web3, there are projects that aim to level the playing field. The decentralized nature of blockchain can be used to democratize film. Unlike mega-producers like Marvel’s Kevin Fagee, DAOs in the film industry can maintain a healthy balance.
Of course, the nature of cinema-the donkey on the seat-is a form of democracy. But according to Film, it can go further. Co-producer Lauren Magura. For them, the decentralized funding structure is an opportunity to create an inclusive community of fans and decision makers. Blockchain technology has allowed us to develop our patented Vault Lock technology.” This technology protects the original idea by capturing all project data in an immutable public record,” she says. Blockchain also by its very nature provides fairness and transparency, piercing the veil that has long concealed the film industry.
However, the traditional top-down industry structure has always kept some creators at a distance from their audience. By democratizing film through blockchain, we will see films that better reflect their audiences,” she says.
Giving Talent Its Fair Share
Many blockchain projects have similar goals, but they are never the same, and KINO co-founder Austin Worrell has had a winding road to the film industry. Handsome in an old-fashioned way, he tells BeInCrypto that he grew up wanting to be a movie actor. But when he was still young, his family business suddenly and violently collapsed.
Driven by a sense of injustice and enraged by the fog of the justice system, Austin decided to become a lawyer. After studying at the University of Miami and the London School of Economics, he co-founded ElonGate. Web3, a philanthropic company that takes its name from a mask-based meme, has 500,000 investors and a market capitalization that soon reached 500 million. KINO’s work has given me an amazing personal sense of the power of this new era of digital presence on the Internet,” said KINO’s founder and CEO, Elon Gates.
KINO was born from a mix of passion, years, and experience. The main criticism of the project was that few employees saw the fruits of the film’s success. Some work just as hard and waste just as much time without seeing the rest of their income. You put your heart and soul into this amazing story, but in the end only a select few got percentage points and ownership.”
According to him, big stars, aspiring actors, cinematographers, and production designers can gain property rights through the blockchain. Someone has to protect Hollywood’s middle class. In an unreliable economic system, there is no need to rely on the good will of those in power. Blockchain enables this transparent, immutable, and accessible registry.”
For many, Web3 is the best solution!
For those that BeInCrypto spoke to in this article, it is no surprise that blockchain is fundamental. Crowdfunding has become a popular way to fund projects over the past decade. Why? After all, participation in the web3/crypto space can be controversial at best. Why not make it easy on yourself and limit this space altogether?
For many, principles are more important than optics. Film’s Lauren continues, “The very spirit of the blockchain speaks to solving these problems.” Io. All support and funding metrics are stored in a transparent blockchain, providing immutable protection and a transparent record of project growth.”
In addition to technology and principles, the community has a tangible ambition that is contagious. A widespread and sincere belief that good work and good principles lead to great things. I’d love to see Kino’s film at an awards ceremony five years from now,” Austin says. In a way, this is another way to make great films, not about technology.