Cryptocurrency Is Going To Take Over Hollywood
It was only a matter of time before cryptocurrency started to penetrate the different established industries. This is the case with technology, it affects everything.
Disruption can happen in two ways. Either something comes from outside the industry to completely take over or we see some within it embrace something that revolutionizes the way things are done.
Source
For Hollywood, at least in these early stages, the impact of cryptocurrency is going to be done by the later.
Changing Movie Financing
The Coppola family is one of the best known in Hollywood. Here is where we see the charge into cryptocurrency taking place.
It is starting with the idea of decentralizing the financing of films. This is something that should give a lot of smaller film makers a leg up while also bringing more people into that end of the business.
Presently, we see a situation which is dominated by major production houses that have the resources to throw large sums of money at a project. This is what creates major blockbusters since most ideas are barred from emerging. Simply, they do not get funded, hence die a rapid death.
The idea is to get more projects funded, expanding the offering that Hollywood puts out. Some of the best films come from the indie circuit yet they are still rather limited in number.
It also stands to reason that people will fund those projects they want to see. Hence, the investors are built in viewers. This is the social aspect of cryptocurrency we see emerging.
To be launch during the fall, 2021, the project has the objective of supporting independent filmmaking. Thus, it will be structured as a “democratic” film fund with an online community composed of fans, industry professionals, and others.
The project will leverage one of the crypto industry’s most valuable uses, the possibility of incentivizing a community to participate in a model to decide which films will receive funding. In that way, Roman Coppola and his partners seek to mitigate “one of Hollywood’s biggest problems”.
The fact that they are turning to cryptocurrency to solve one of Hollywood's biggest problems is showing the power of what is taking place. Many still feel cryptocurrency is a solution looking for a problem. The reality is that people just are not thinking hard enough about how to apply it.
That is all changing.
Decentralized Pictures’ ultimate goal is to cause a ripple effect across the film industry by supporting “underrepresented projects”. In turn, this will benefit and production companies, and others within this industry.
Thus, the interest for the organization is to have a transparent and auditable process to grant the funds. About using the underlying technology behind crypto, Matchett said:
You can read more about this project here and here.
Creating Money Out Of Thin Air
It is amazing what happens when people discover they can create money out of thin air. This is a premise that got a lot of attacks when central banks do it yet is rather overlooked in cryptocurrency.
The bottom lime is money is needed for expansion. What is being described here epitomizes how it is required. The difference is we are seeing a better distribution. Instead of the resources being locked up in the banking or financial sector, a project like this creates the money for an intended purpose.
Thus, it is logical to believe, if successful, the money will be directed at the problem it is looking to solve.
This is an example of how more money, properly directed, leads to an increase. Of course, the major studios are going to keep churning out their high cost films each year. However, through a project such as this, we will see the number of indie films increase in number.
We also could see new stars emerging. They will develop a following making for a nice community. As we are aware, communities have great power and are transitioning into economic models themselves. Therefore, the total growth in economic activity from just one successful indie film could be enormous.
This is how the Age of Abundance is emerging.
Ultimately, anything that people are interested in can be funded. In other words, cryptocurrency is the solution to most problems that exist out there. It is not looking for a problem to solve. Instead, it solves all of them, at least from a financial perspective.
Wherever a group of people see an issue, one that usually requires some form of financing, then the supporters of whatever the movement is have the ability to fund it.
The Coppola family connected the dots very well. Here is something that is a major problem in Hollywood and cryptocurrency is the solution.
Cryptocurrency Is Not A New Asset Class
Many claim that cryptocurrency is a new asset class. They view it as another investment vehicle, similar to stocks and bonds. This is logical since most approach it like the Wall Street casino. We see this evidenced by the talk of "mooning" and "Lambos".
However, this is much bigger. The reality is that everything will become cryptocurrency. The Tokenization of Everything is about to kick off. This one project seeks to decentralize film financing. Others will address other areas.
Cryptocurrency is going to replace stocks, bonds, partnership shares and a host of other financing mechanisms. It will also be, however, the foundation for the Metaverse. Whatever reason for people to collaborate, that will end up being tokenized.
We are seeing a replacement for the entire global economic system. It will take years for the transformation to occur yet we are seeing the beginning stages.
Cryptocurrency is a tool through which people can approach their different problems. Hence, the solution in comes in what people apply it to, not in its inherent existence.
The reality is that cryptocurrency is not only going to take over Hollywood. Instead, it will take over everything.
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That's even how I see @dcooperation. We already started working in hive documentary movie and I hope more people will join us. It will be good if you write about our ideas and give feedback about that. We are planing to create a few movies about hive.
I will check it out. Good to see more projects starting to take shape.
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Crypto currency is going to touch all expect of life,it depends how people accept it but if movie industry, companies and some big industries start accepting it,it means is going to change alot of things and many people will come out of poverty, people that will come out of poverty are the investors,in case you have not invest please better invest in HIVE coins, BTC and others because crypto currency is moving like train.
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And this is basically what has happened with the entertainment industry as a whole. In the '90s and early '00s everyone had to watch basically the same things. But now we have so many creators that can appeal to smaller and smaller niches. The big budget tv shows still get made for the networks, but more and more people have moved to YouTube and TikTok for entertainment that has a very particular audience.
As you said people seem to think that crypto currency is looking for use cases, but I see so many very real surface problems that people are so very aware of that crypto currency is already set up to solve; it's just not in enough people's awareness yet:
Streaming sites like Twitch have a stranglehold on their streamers. Twitch can pull strings and shadow ban in the blink of an eye. Same with TikTok. More and more people are moving to these sites for their entertainment, and more and more creators are able to actually make a living creating niche content. But they're under the complete control of whoever is pulling the strings. Yet they are the ones doing the real work of creating great content, advertising to bring in viewers, connecting with people, replying to comments. The relationship between sites and their creators should be more harmonious. Solution: blockchain streaming services that are already in the making.
Which brings me to my next area where cryptocurrency is about to solve a gigantic problem that is at the top of Gen Z's awareness. They don't want to do the 9 to 5 thing. They don't want to do work the way generations before them have. And as you have pointed out over the years, technology is going to eliminate jobs. We already have UBI projects set up. Another thing you've written about over the years is how we will earn crypto currency from picking up litter, exercising (@actifit), assisting the elderly, etc. I'm already regularly earning crypto for shopping and viewing ads.
Our governments will be transformed in ways we can't even imagine by blockchain and crypto currencies. We can pay for roads, improvements, and any necessary defense by people voluntarily putting up money for projects they want to fund.
It's actually difficult for me seeing the myriad problems people complain about above and they see no solution in sight and I'm like "IT'S RIGHT THERE LOOK!" 😫 Alas I have restraint in even bringing up these solutions online because one time I got downvoted to all hell and people were cruel to me even calling me names.
I have a feeling a lot of what you describe in here is solves by the SpkNetwork. That is really going to be a game changer in my opinion.
As for the GenZ you are right. I can see them really embracing the #Play2Earn moveent.
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I wish projects like this would dumb the language down massively. The reason something becomes mainstream is because it's easy for anyone to understand. Even I look at the description of the project and I'm like ummmm ok. And I have relative understanding of blockchain and crypto currency. If we want the mainstream involved in these projects, we need to make them over the top accessible and easy to understand. Unfortunately after googling that project I really have no understanding of what it is.
Edit: I scrolled down and found diagrams, etc spelling it all out. :)
It's started penetrating in the life of common people and I feel as you mentioned it's matter of time where it will be recognized everywhere.
It will take some time to spread but the more initiatives, the less foreign cryptocurrency will be to some people.
Obviously, movie financing is a great way to make it known to a lot of people.
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I would be more delighted if this could happen but it takes time before this can be done
Things do not happen overnight.
People underestimate how quickly disruption takes place. It takes time to built up.
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Yeah that's just what they do not understand. mountains were not built in just a day
One who forecast very well Will see that crypto currency has a far more destiny in the industry and not just a movie Industry but all sphere of life, no matter what some agencies are thinking of bringing it down, what is good is good and when something unique comes up, others has no other choice than to succumb to it and follow the leading way, what a nice articles you shared I am happy that I read it today.
I think you meant Bottleneck here not Blockbusters!
Well, ofcource crypto's are great for decentralised finance, where people can donate something, get incentivised also for their participation like what happens in DEFI, except they can't determine the outcome of movie like can be done in DEFI.
But... still need to create some following I guess and have fans and community to support... so a completely new movie made by new guys but is promisisng, have to create buzz and slowly fundraising for the movie production.
But things are different... the funders or fans cannot determine who will act or cast in the movie just because they have staked in the movie... they can get all those discounts on NFTs and stuff...which the people who fund a lot or early supportors get...and they can be airdropped some tokens or NFTs of the movie...
BTW... I thought you may find it interesting that that anomyous good people hacker group is launching a crypto currency of their own...
I saw that about Anonymous. Very interesting idea.
Nothing like the most famous hacker getting involved in cryptocurrency.
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Given how much money Hollywood is losing right now, I am not surprised they are trying to get as much money as they can. Though I wonder if its because they are making movies while throwing their viewers away for what they think is better.
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Their model is going to have to change. They will incur losses until they do that.
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😁a few more days; Do not be surprised if you see or hear that Trump has made Melania NFT!😎😂
If Trump's gets into cryptocurrency it is game over.
Between him, Hillary, and Biden, I am not sure any of them know what a NFT is.
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@taskmaster4450le what do you mean by cryptocurrency will take over everything
It means we may able to use cryptocurrency as a Covid 19 Vaccine 😂😜
And travel on Bitcoin and ethereum from Canada to Australia instead of using Canadian airline A380 😂😜
Please don't mind I am just joking, I can understand what you are trying to explain I think cryptocurrency will take over everything related to finance, internet and money but not everything from real world
By they way article is nice thanks for sharing keep promoting hive blockchain
You ticket on the airlines will be a NFT.
Ownership in those companies will be a NFT. Everything to do with registration will be on blockchain.
So yeah it will penetrate every aspect of life.
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@taskmaster4450le Sr. I really impressed with your reply, I think you successfully integrated cryptocurrency and blockchain with airlines and travel industry
That's only possible due to your experience and knowledge, if any person other than you read my comment he may not take it seriously to reply
Wouldn't that be similar to an NFT then as you are buying into something that is unique? Being invested in a film via a token sounds like fun and would support topics I enjoy watching. The film industry has been hit hard lately by the internet and how technology has taken proceeds away from the movies themselves. I saw a clip the other day with matt Damon saying how some films have been held back. Cinemas being closed as well would add to that but the main concern was pirating.
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They have a broken distribution model that needs fixing. How movies were brought to the public hasnt changes in 90 years.
Until they figure out a new method, they will lose money.
Just like the record industry 20 years ago.
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This is exactly at the same point the music industry was 20 years ago you are right. How they fix it will be interesting to see.
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Cryptocurrencies changing the world! Good post.
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