Sundance Film Festival embraces blockchain and crypto film initiatives

Web3 technologies proceed to infiltrate assorted mainstream industries to bring innovation to aged systems. This includes bequest originative fields specified as the euphony industry and much recently, the movie industry.

This year, the Slamdance Film Festival, an oscar-accredited movie festival for indie filmmakers, volition spot the premiere of the caller movie “Fuzzy Head,” which received its backing done the blockchain-powered crowdfunding level Untold.io. 

Ali Aksu, the CEO of Untold.io, told Cointelegraph that filmmakers, arsenic successful the lawsuit of Fuzzy Head, tin usage blockchain exertion to democratize their financing process and unfastened up concern opportunities to some accredited and unaccredited investors.

“The astir important facet of crypto/blockchain integrations successful the movie manufacture volition beryllium opening up a caller plus people to each kinds of investors via compliant information tokens and accrued instrumentality engagement via NFTs.”

Recently Untold partnered with Dapper Labs to accelerate the exertion and let for wider entree to its programs. The level has besides supported different notable films, including The Comeback Trail which features Rober de Niro and Morgan Freeman. 

Related: Bluechip NFT task Moonbirds signs with Hollywood endowment agents UTA

This is not the archetypal lawsuit of a movie festival seeing crypto and blockchain components successful films that are premiering. In 2019 the Filmio blockchain level attended the bequest Sundance movie festival to scout projects for its blockchain-based amusement platform.

Last twelvemonth Liquid Media Group announced its archetypal blockchain movie streaming with a slate of integer sheet presentations during the Sundance festival. The institution besides presented the interaction of nonfungible tokens (NFTs) connected filmmakers and their communities.

In 2022 Russel Crowe’s “Prizefighter” movie utilized NFTs to partially money its accumulation and became what the manager called an “audience-driven film.”

Aksu said that the utilization of blockchain-based tools by bequest directors and large festivals brings visibility to these tools for autarkic filmmakers who would highly payment from them.

“These are besides large opportunities to make a existent assemblage down revolutionary movements similar blockchain.”

Last twelvemonth movie director Anthony Hopkins sold retired an NFT collection based connected characters successful films helium had already released.

Quentin Tarantino besides created NFTs based connected his ionic movie “Pulp Fiction.” However, helium was aboriginal progressive successful a large suit with the movie accumulation institution implicit copyright infringement.