While we tend to think of payment solutions when it comes to blockchain, other sectors can also benefit from it. One of these spaces is the cinema and entertainment industry.
Currently, directors and distributors are disconnected. The filmmakers are trying to tell new stories and capture how they see the world. Distributors are willing to make money and market the most profitable films. However, directors can not earn a living without distributors, so they tend to work on safer and more traditional projects to pay their bills.
This dependence has led to the foolishness of the film industry. The films that come out today are often sequels and reboots without originality. A blockchain-based project, Filmio, is trying to change it.
Working with fans, the Filmio project is creating a space in which directors and the public can connect with each other. The platform acts as a creative incubator in which creative people can present their ideas for funding. So, fans evaluate the projects they believe in most. The most voted projects are selected for funding through the Filmio team and other production companies that are partners in the platform.
In essence, filmmakers can generate secure interests and loans, while distributors are guaranteed an audience. This allows production companies to take on more risky projects, as they can be sure they profit from it.
In Unhashed the opportunity was given to interview Chris J Davis, CTO of Filmio. Here we discussed the technology behind Filmio, its general vision and how it intends to emerge in a sector full of competition:
Unhashed: How did the collaboration with EOS.io simplify the project development process?
Chris J Davis: EOSIO's selection gave us a real breakthrough when it came to building a modern and usable application. Their focus on scaling, on ease of use and on the user experience is incorporated, which allows us to dedicate our time and energy to the aspects of Filmio that we are positioned in a unique way, such as our validation engine, the greenlight process and the construction of the public.
UH: How do you compare Filmio with its competitors like LiveTree and MovieCoin?
C: Projects like LiveTree and MovieCoin focus on project funding, taking the established process that you see in Hollywood and taking it to the blockchain. They are essentially film funds that use tokens instead of equity. In our mind it is the least interesting, and least impacting, change that the blockchain can bring to the cinema process. Filmio is a gamified ecosystem that works as a creative incubator, market validator and distribution launchpad. We are focusing on connecting fans and creators in new and exciting ways that will create more opportunities for directors and bigger fan content.
UH: What benefits based on the blockchain has Filmio able to win over skeptical technology partners?
C: Transparency, correctness and immutability. One of the most frustrating parts of the production process of many creators is the lack of clear information. With our new uses of blockchain technology we are creating an ecosystem that thrives on data sharing, clarity and fairness.
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UH: Filmio plans to collaborate with hardware producers like Vizio or other streaming services?
C: Absolutely, if and when the right partnerships arise. Filmio's mission is to give creators the tools they need to succeed. While obviously we focus on our software and our processes to deliver these tools, a very important part of our future is the strategic partnership with other people and companies alike.
UH: Crowdfunding platforms of traditional films like Seed and Spark focus on the independent scene. Filmio seems to be targeting major budget projects and Hollywood. Is it true and if so, how does Filmio benefit from this?
C: Not at all. Our goal at Filmio is to democratize the industries of cinema, TV and virtual reality by supporting the directors [sic] at all budget levels and in all genres. We are not targeting Hollywood as a way to work with Hollywood to help them discover great projects. Content creators often struggle to achieve success due to lack of access or resources. In the Filmio ecosystem, creators can create a support audience, gain meaningful statistics and qualifying projects can access funding and licensing opportunities with our strategic partners and other production companies, financiers and film funds – including Filmio Studios.
UH: Will all projects go through the fan approval process or will Filmio accept and fund separately presented ideas?
C: While all the projects will be on the platform, and to a certain extent it will be a part of our fan validation, it is not the only way to be successful. We also see ourselves as a matchmaking service, creating opportunities for creators with stories to tell to meet people with the resources they need to tell those stories. It could very well be that those resources come from moving through our fan validation system, or they could come from a big project that is brought to the attention of a manager in a large studio. Both results are a victory for Filmio.
UH: How does Filmio Now plan to compete with established platforms such as Netflix and Hulu?
C: We do not consider it as competitive, as much as we compliment platforms like Netflix and Hulu. We are in the middle of a consumption of content that we have never seen before. Filmio is ready to be a valuable tool for companies like Netflix, Hulu and in addition to leverage to find exceptional content, validated by millions of fans. For the fantastic projects that do not fit the categories that these various services are looking for, there is Filmio Now, a first experience of Social Streaming that is tightly integrated with the rest of our platform. This integration allows new ways to experiment with your content as well as another powerful tool for the creator.