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The box office grossed more than USD 2.9 billion in 2020. Columbia Pictures and Universal Companies, the two biggest film studios, owned more than 40% of the market. In instance, although independent films have a better aesthetic quality, they account for just 11.9 percent of worldwide box office revenue.
Any filmmaker will tell you that the most challenging aspect of the process is raising the funds necessary to create their picture. In recent years, emerging technology has provided filmmakers with a growing number of tools. These technologies have aided filmmakers in producing more professional-looking films at a lower cost. Recently, technology has started to aid filmmakers in identifying new revenue streams.
Around five years ago, the establishment of crowdsourcing platforms such as Kickstarter and Indiegogo paved the way for independent filmmakers. Through these platforms, filmmakers were able to submit their film ideas to a large audience of prospective supporters, who might subsequently pledge financial support for the project. Despite the fact that the site would charge a fee for aiding filmmakers in securing finance, the filmmakers would retain 90% of the funds.
Crowdfunding websites need extensive advertising in order to attract attention to particular ideas. This also complicates getting the required funds. Numerous filmmakers have bypassed this problem by offering enticing gifts such as movie memorabilia or even complimentary tickets to their film’s premiere. As a consequence of this sort of innovation, a significant number of films have been funded using crowdsourcing platforms.
Crowdfunding is a viable method of financing a film, despite increased competition for pledges. Indegogo collaborated with MicroVentures to launch a new equity crowdfunding platform in late 2016. Its purpose is to provide individual supporters with a little stake in the creative endeavours they support. This invention resulted in a dramatic increase in the amount of money committed overnight, enabling several initiatives to surpass their financial objectives.
However, funding remains one of the most challenging barriers for independent filmmakers to overcome. Today, however, cryptocurrency-based fundraising has the potential to revolutionize independent fundraising.
Finance your Films using Cryptocurrencies
It all began when a group of filmmakers became the first group of film aficionados to crowdfund their film using Ethereum contracts. By generating over USD 1.4 million for their project, this group of filmmakers pioneered a whole new method of film funding. We were able to realize that blockchain technology is much superior to traditional fundraising processes as a result of this film. With characteristics like as anonymous value transfers, smart contracts, decentralization, rapid transactions, and minimal transaction costs, Blockchain technology may emerge as a viable option for financing your next feature film.
If you’re interested in funding your next film or gaining access to some of the most intriguing independent films, MovieBiz Coin is a terrific option. MovieBiz Coin is a decentralized blockchain platform that allows investors to participate in the film business. Through the use of blockchain technology, MovieBiz Coin enables investors, actors, directors, and producers to get access to a diverse variety of filmmaking investment possibilities worldwide.
MovieBiz Coin’s mission is to assist independent filmmakers with fascinating, original, and strong tales in obtaining funding and participating in a marketplace where cinema aficionados may quickly utilize their digital assets to view or purchase these films. MovieBiz Coin intends to tokenize the film business and initiatives within the entertainment sector, ensuring that all filmmakers have an equal chance.
MovieBiz Coin’s mission is to let anybody to invest in film production while collaborating with prominent celebrities. It intends to make it simple for everyone to support exceptional films, whether they are investors or independent filmmakers. Most importantly, MovieBiz Coin seeks to serve as a platform for emerging talent to shine and demonstrate their talents and abilities.
MovieBiz Coin Features
MovieBiz Coin has a slew of features. While the initiative is primarily focused on fundraising, the project’s primary utility token, the $MOVIE token, also provides investment options in the film industry. MovieBiz Coin seeks to engage with investors and advertising worldwide in order to get recognition in the film business for their unique characteristics, which include the following:
- A blockchain based crowdfunding platform that enables directors, producers, and actors to access global investment opportunities.
- Booking Candy
- Provides fast and easy movie ticket booking facilities via blockchain technology. Users can instantly buy tickets using their phones.
- Buddyz.Fun /Superlive.io
- A platform for upcoming actors, directors, and filmmakers in the entertainment industry to connect, share, and network.
- Streaming platform that allows anyone to playback videos, music, tv, and more from anywhere in the world at any time.