Films funded by NFT, Karadita, Winner of the Best Picture Award at the Sundance Film Festival.This movie, directed by Miguel Faus, is about Anna and “It moves away from easy clichés and caricatures to explore themes of class differences and injustice from a profound and sophisticated perspective.”
Calladita is a Film3-type film that employs decentralized technology to liberate and empower independent artists. In this case, Faus and his team used his NFTs to finance the film and won the Andrews/Bernard Award, making it a dream come true.
The award was established last April by renowned filmmaker Steven Soderbergh and decentralized cinema. To encourage independent filmmaking talent, he pledged his $300,000 to finance the completion of a notable English-language film and short film, and NFT-funded film, Calladita, was the first to receive an award. It became a movie.
Speaking to Decrypt, Faus says Film3 represents the future of independent film and is the reason films exist. There was a Faustian glow to the awards presented on Saturday. He expressed his joy on his Twitter and thanked the Decentralized Pictures Foundation, his entire team, and his over 500 individuals who believed in his idea and bought the NFTs.
Legendary Steven Soderbergh gave us the Completion Fund Award for the movie CALLADITA at the Sundance Film Festival.
Thanks to you @DCP_Foundationour entire cast and crew, and the 500+ degrees that made this film possible. pic.twitter.com/Br8DFmlAzc
— miguel faus.eth 🎥 CALLADITA FILM (@miguelfaus) January 21, 2023
Decentralized Pictures is a non-profit organization seeking to discover new and innovative filmmaking talent. The platform allows filmmakers to submit film pitches by paying a submission fee in its native token, FILMCredits (FILM). Users of the platform can then vote on which ideas will be funded by the grant.
According to Leo Matchett, co-founder of Decentralized Pictures, blockchain technology is not only platform-enabled. “We fairly and transparently decide who is most deserving of funding, but we also have this incentivized behavioral mechanism built in.”
What is the future of Film3 after the NFT-funded film Calladita wins Best Picture?
That said, using NFTs to fund movies represents a new frontier in filmmaking. So far, the likes of Spike Lee and Kevin Smith have used them to fund their films and drive engagement. At a time when most people see NFTs as nothing more than speculative assets, this may be the kind of use case needed to drive mass adoption. It’s now possible for fans to fund the next blockbuster and own a piece of its success.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Basil is an avid fan of blockchain technology and all its innovations, and is passionate about sharing this story with his audience. He has spent over five years in the crypto space, specializing in research and creating his Web3 content for various media outlets around the world. His work has been published on top his websites such as NFT Plazas, usethebitcoin.com and the European Blockchain Convention. When not thinking about disruptive technology, Basil is busy exploring the outdoors.
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