Web 3.0 technologies have further penetrated a number of traditional businesses, introducing innovation to protocols that were already in place.
This includes creative industries with a long history such as music, but also more recent creative sectors such as film.
Fuzzy Head, the new film, will make its international debut at the Slamdance Film Festival this year. This festival is Oscar-accredited for independent filmmakers. Untold.io, a blockchain-powered crowdfunding website, made the production possible. “The most important part of crypto- and blockchain integrations into the film business will increase fan interaction via NFTs and open up a new asset type to all sorts of investors via compliant securities tokens.”
Untold and Dapper Labs formed a partnership to help Untold advance its technology and provide more accessibility for its programmes.
This platform also supports other notable movies like “The Comeback Trail,” starring Robert De Niro, and Morgan Freeman. It’s not the first time that cryptocurrency and blockchain technology have been used in film premieres at film festivals.
Filmio’s blockchain platform representatives visited the Sundance Film Festival in 2019 to discuss potential ideas for the new blockchain-based entertainment platform they are creating.
Liquid Media Group announced their first blockchain-enabled film streaming, along with a series of digital panel discussions, during the Sundance Film Festival in 2017.
The business also spoke out about the effects that NFTs (nonfungible tokens) have had upon filmmakers as well as the communities where they work.
Russel Crowe directed “Prizefighter”, which was released in 2022. The film used non-traditional forms (NFTs), in part to support its production. According to the director, the movie was “audience-driven.”
Aksu claims that small filmmakers stand to greatly benefit from the use blockchain-based technologies if they are heritage directors or festivals. These are great opportunities to create a community that supports groundbreaking initiatives such as blockchain.
Anthony Hopkins, a film director, was successful in selling all items in an NFT collection based on characters from his previous movies.
Quentin Tarantino also developed novel film techniques (NFTs), based on Pulp Fiction.
Later, he found himself in a huge legal dispute with the movie production company, which was centered on allegations of copyright violation.