{"id":161931,"date":"2021-01-24T17:37:00","date_gmt":"2021-01-24T14:37:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/its-time-for-hollywood-to-move-to-blockchain-yes-you-read-that-right\/"},"modified":"2021-01-24T17:37:00","modified_gmt":"2021-01-24T14:37:00","slug":"its-time-for-hollywood-to-move-to-blockchain-yes-you-read-that-right","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/its-time-for-hollywood-to-move-to-blockchain-yes-you-read-that-right\/","title":{"rendered":"# It\u2019s time for Hollywood to move to blockchain. Yes, you read that right"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a407f1af2849\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a407f1af2849\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/its-time-for-hollywood-to-move-to-blockchain-yes-you-read-that-right\/#The_film_industry\" >The film industry<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/its-time-for-hollywood-to-move-to-blockchain-yes-you-read-that-right\/#Changes_in_Hollywood_Were_they_enough\" >Changes in Hollywood: Were they enough?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/its-time-for-hollywood-to-move-to-blockchain-yes-you-read-that-right\/#Empowering_people\" >Empowering people<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/its-time-for-hollywood-to-move-to-blockchain-yes-you-read-that-right\/#Decentralizing_the_film_industry\" >Decentralizing the film industry<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># It\u2019s time for Hollywood to move to blockchain. Yes, you read that right <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvNjY1Y2FmMGQtZDYzYy00N2RmLWI5MGItODk1Mzc2OGNmZTgwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>The greatest empires over the course of history have come and gone \u2014 the Romans, Greeks, Babylonians, Mongols, Persians, Egyptians, Ottomans and, most recently, the British. Much in the same way that history has recycled the powers of the world, so do cultural and economic institutions around us fall to the same fate.\u00a0<\/p>\n<p>Like these empires that governed their corners of the world, Hollywood dominated its own \u2014 the film industry. Audiences have enjoyed the fruits of this cultural empire just as they have enjoyed perks produced from other exclusive clubs. It\u2019s time, however, to open Hollywood to these audiences just as an effort is underway to open industries such as traditional finance to the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> public. And the same tools that financial liberation fighters have used also <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ly to film: decentralization and blockchain.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_film_industry\"><\/span>The film industry<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Film, as an art form, is designed to touch, inspire and move people, whether provoking deep thought regarding the socio-economic climate or providing comic relief. Yet unlike other art forms, producing quality film worthy of mass distribution requires digging deep into pockets, a privilege belonging largely to investors and benefactors. In the typical Hollywood setting, these investors and their associates on the production side often work together in a limited, exclusive club that consequently limits the inflow of diversity (not the racial or gender-based kind, but the artistic kind).<\/p>\n<p>Consequently, the exclusivity leaves many creators in the dark, who are unable to produce, distribute and promote their projects effectively. That\u2019s not to suggest every film ever conceptualized is truly worthy of the silver screen, but surely, more creative ideas are out there in the sea of film aspirations. Allowing a select few to dictate what scripts are worthy of production, however, is not the answer either, as it restricts the flow of creative ideas.<\/p>\n<p>Consider if paintings were treated the same way films are, and a closed club of investors was to choose what paintings get commissioned. It\u2019s a scenario we would struggle to fathom, but it\u2019s precisely what the current paradigm entails to a large degree. Films may be more expensive, but that doesn\u2019t necessitate exclusivity in deciding what\u2019s worthy.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Changes_in_Hollywood_Were_they_enough\"><\/span>Changes in Hollywood: Were they enough?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Movements since the 1960s have attempted to break down the high walls of Hollywood, with limited success. Indie films are lauded for their triumphs outside of the Hollywood hemisphere, inspired by movements like the Independent Cinema Movement and its associated festivals. But even these advances weren\u2019t enough to break through.<\/p>\n<p>Even on the accounting side of things, most films don\u2019t make money \u2014 as many as 80%, according to entertainment lawyer Shuyler Moore\u2019s<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/schuylermoore\/2019\/01\/03\/most-films-lose-money\/?sh=6088f19f739f\" data-amp=\"https:\/\/www-forbes-com.cdn.ampproject.org\/c\/s\/www.forbes.com\/sites\/schuylermoore\/2019\/01\/03\/most-films-lose-money\/amp\/\"> insights<\/a>. Although film is technically an art form and not purely produced for profit, studios still have some financial objectives with each creation. So, if films flop so often, why allow Hollywood executives to be the bottleneck? Let the viewers participate in the same way the masses opened the gates for mass participation in other spaces. And this road is paved with decentralization at its core.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Empowering_people\"><\/span>Empowering people<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Over the last 20 years, we\u2019ve witnessed decentralization across a handful of sectors, most notably with journalism and finance. As <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> conglomerates have grown larger and stronger, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.infoamerica.org\/teoria_articulos\/lippmann_dewey.htm\">debates<\/a> between John Dewey and Walter Lippmann of the 1920s took center stage over whether journalism should be bottom-up or top-down. Tech developments and the rise of social media networks have empowered individuals to report the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> themselves, thereby circumventing mainstream media conglomerates as the only true source of news. <\/p>\n<p>Now, thanks to these major strides in tech, coal miners in Pennsylvania, clay sculptors in New York and teachers in Maryland can all discuss the issues of the day in digital public forums. They can share information and report on news just like accredited journalists can.<\/p>\n<p>Even more recently, the financial world has witnessed the decentralized revolution take hold. Similarly to the media landscape, via the invention of blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> merely a decade ago, citizens could now invest on a platform that rested outside of the powers that be \u2014 powers that induced an economic recession. This alternative ecosystem to the traditional legacy institutions, also known as decentralized finance, took off over $24 billion in total locked value invested between June 2020 and January 2021,<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/defipulse.com\/\"> according<\/a> to DeFi Pulse.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Decentralizing_the_film_industry\"><\/span>Decentralizing the film industry<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a decentralized world where the film industry would be, creators could upload their project concepts on a blockchain platform and promote them by interacting with fans and investors. A new decentralized social media app that incentivizes engagement is a model for how a decentralized film platform could encourage fans to engage.<\/p>\n<p>In the same way that decentralized social media platforms offer tokens to influencers when they receive fan engagement, so would a decentralized platform incentivize users to engage with film content on the platform. Fans could theoretically engage with creator projects, voting on which film concepts are most interesting and receive utility tokens for doing so. <\/p>\n<p>Accredited investors could then evaluate the data on fan engagement and feedback and then determine what films to invest in. Via tokenization, retail investors could also be free to invest and receive dividends for their financial contributions. The possibilities are endless in the means to induce fan\u2013creator relations.<\/p>\n<p>In this kind of ecosystem, creators would be empowered to raise capital for the production from not just the traditional channels but from multiple sources. Ultimately, the fans who pay tickets to see the films would be the ones green-lighting projects.<\/p>\n<p>Projects on blockchains may be in their infancy, but their capacity to create change for the better is what will empower many sectors of society for the long haul. <\/p>\n<p class=\"post-content__disclaimer\"><em>The views, thoughts and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/em><\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\"><strong>Ian LeWinter<\/strong> is the co-founder and president of Film.io. He has over 30 years of experience in the creative industry and has managed communications in the technology and entertainment verticals. He previously led branding and promotional initiatives for industry heavyweights including Toshiba, Intuit, Tenet Healthcare and Kyocera. As a founder, Ian developed and implemented strategy for ID, which included the identification, engagement and conversion of key influencers for entertainment industry clientele, such as Cox Communications.<\/div>\n<\/div>\n<p><template data-name=\"subscription_form\" data-type=\"consulting_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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Yes, you read that right &#8221; The greatest empires over the course of history have come and gone \u2014 the Romans, Greeks, Babylonians, Mongols, Persians, Egyptians, Ottomans and, most recently, the British. Much in the same way that history has recycled the powers of the world,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":161932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvNjY1Y2FmMGQtZDYzYy00N2RmLWI5MGItODk1Mzc2OGNmZTgwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74983,74892,5021,4965],"class_list":["post-161931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-decentralization","tag-tokens","tag-hollywood","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/161931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=161931"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/161931\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/161932"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=161931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=161931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=161931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}