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The film industry has been suggested by many as one of the next frontiers of Web3 and blockchain technology. With movies historically funded by wealthy investors or centralized production companies, blockchain offers a unique set of tools to decentralize the investment process. Filmmakers can launch projects quicker, and individuals can have a stake in the financial outcome of a film in a way not historically possible — all with the benefit of blockchain’s transparency and efficiency. The trend toward tokenization in all forms of entertainment is growing, and with it has come the seemingly increasing mainstream acceptance of films with a crypto bent. One such example can be found in the film Bull Run, a Spanish documentary that recently had its international premiere on Nov. 15 at the Doc NYC documentary film festival in New York City. Bull Run, directed by Ana Ramón Rubio, describes itself as “the first tokenized film in history,” having raised 320,000 euros (roughly $370,000 at the time) in just 24 hours in September 2021. Director Ana Ramón Rubio (middle) and producer Juanjo Moscardó (right) at the Doc NYC international premiere. (Source: Cointelegraph) According to producer Juanjo Moscardó, the process was game-changing. “My last movie, we were four years to raise the money to finance it,” he said during a Q&A session about the film. “And as I say in the movie, this was only in one day to raise.” “We think it’s a very good option to finance with tokenization because there are some things that you can’t wait to film or to start shooting, but you have to have the money. And this is what we wanted to do — only Bull Run. And we wanted to go in the bull run.” The film’s backers were given BULL tokens, described as a security token…

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Filed under: News - @ November 25, 2023 10:12 pm