Saturday, June 3, 2023

How blockchain technology threatens to change Hollywood

It has become a common saying that cinema halls are dominated by big blockbuster franchises. But while this used to be a whimsical concern, it is now an accepted fact. Plus, we’re seeing a more diverse range of talent on and off screen. Web 3.0 has something to say about both.

A UCLA report found that women and people of color The film industry has made great strides in the past decade.

Since 2011 non-white actors have played lead roles and received writing credits. The number of people of color sitting in the director’s chair has also tripled over the same period.

The percentage of women in leading roles also doubled during that time. But the most encouraging statistic was that women directors had increased fivefold in 10 years.

A statistic that comes as no less than a surprise to many movie watchers. Talent as Greta Gerwig (Ladybird, Little Women) and Chloe Zhao (Eternals, The Rider) They have become the headlines of the industry over the past half decade.

But, with the rise of socially conscious filmmaking, there has been a rise in projects based on it as well. blockchain with similar goals.

using the blockchain to make a difference

astrolucha, A collection of non-fungible utility tokens (NFTs) designed to help finance Movies, TV series and other media for marginalized groups is one of those projects.

They feel that there is a need for better representation. In 2021, Official figures say that 19% of the population Latina from USA. You don’t need to be a statistician to see that this doesn’t match what you see on the screen.

“Astrolucha was born out of a deep desire to see more diversity in entertainment,” says Moises Zamora, one of the co-founders of the project. “I wanted to create a solution to a decades-old problem: why can’t people of color be the heroes of their own stories?”

Zamora is also the creator of the Netflix series Selena, a biographical series about the charismatic queen of Tejano music, Selena Quintanilla. A widely acclaimed series that helped solidify Quincilla’s place in the canon of Mexican-American musical culture.

Its intellectual property and aesthetics are based on the concept of fighters, Free-flowing pro wrestlers who also work as colorful superheroes. From that concept, they have created a collectible card game and intend to develop a live action series.

“Hollywood loves intellectual property, so that’s what we’re doing: creating intellectual property,” he says. “We want to make sure we are set up for success, so creating a DAO and community that is encouraged to collaborate and help each other will help us succeed.”

In his conversation with BeInCrypto, it is clear that the goals of his project are high. reformists than revolutionaries, “Estrolucha doesn’t aim to replace Hollywood, just to expand it and provide more opportunities for Latinos and other marginalized creators.”

democratization of cinema

For context, last month, in a surprising move, the former CEO of Disney, Bob Iger, made a surprising comeback. its short-lived predecessor, bob chapekPresided over a period of commercial unrest.

However, in 2021, Disney films accounted for 25% of the total share. of the film market in the United States and Canada. Because, despite a global pandemic, owning a quarter of one of the world’s biggest movie markets wasn’t enough.

Of course, There were other reasons why Chapek was canned, But it’s deeply telling that even that metric wasn’t enough to save him.

But, in the spirit of Web 3.0, there are projects whose mission is to level the playing field. inherently decentralized nature of blockchain can be used to democratize cinema, Unlike studio megaproducers like Marvel’s Kevin Feige, film industry CADs can provide a healthy counterbalance.

Of course, The Nature of Moviegoing (Butts in the Seats) It is a form of democracy. But according to Lauren Magura, co-creator of, we can go even further. for them, A decentralized financing structure is an opportunity To build an inclusive decision-making community of fans and creators.

“the technology blockchain This allowed us to develop our proprietary Vault Lock technology that protects your original ideas by recording all of your project input in an immutable public record. ,blockchain It also by its very nature guarantees fairness and transparency, which have blackened the film industry for so long.

However, with traditional top-down industry structures, some producers will always be at a distance from their audience. by democratizing cinema through blockchainWe can look at films that better reflect their audience,” he says.

“Human beings are creatures of routine … If a dominant gender and/or race is in control, we’re going to see a dominant gender and/or race on screen.”

give talent its fair share

Although many projects blockchain share similar goals, they are certainly not identical. Austin Worrell, co-founder of Kino, was a circuitous road to the film industry. Classically handsome, he tells BeInCrypto that he wants to be a film actor when he grows up.

However, when he was still young, his family business suddenly and violently exploded. “There were a lot of lawyers involved; I remember it very clearly. But I remember why the lawyers didn’t fix it?

Driven by a sense of injustice and angered by the fog of the legal system, Austin decides to become a lawyer. After studying at the University of Miami and London School of EconomicsCo-founded Elongate.

A Philanthropic Web 3.0 Company Named From a Meme Based on musk. Five million people invested and soon it reached a market capitalization of half a trillion. “It gave me an amazing firsthand understanding of the power of this new era of online digital presence.”

After a mix of passion, years and experience, Kino was born. A central criticism of the project was that only a few workers saw the rewards for the film’s success. others worked just as hard, at ungodly hours, Without looking at any residual income. “You put your heart and soul into creating this incredible story, and a select few receive percentage points and ownership.”

Big star or budding actor, videographer or production designer, blockchain can give you ownership, he says. Somebody’s got to stand up for the middle class of HollywoodD. By using a trustless economic system, we don’t have to depend on the goodwill of the powerful. ,blockchain It provides that transparent, immutable and accessible ledger capability.

Web 3.0 is the best solution for many

To everyone BeInCrypto talked to for this article, surprisingly, blockchain it was necessary. Over the past decade, crowdfunding has become a popular grassroots way of funding projects.


Why do you do this? finally joining the space Web3/Crypto maybeControversial at best. Why not take it easy on yourself and bypass this spot altogether? For many, the principles are more important than the optics.

Lauren of adds, “The spirit of blockchain speaks to solving these problems.” “All support and funding metrics are stored on a transparent blockchain ledger, providing immutable security and a transparent record of your project’s development.”

Technology and theory aside, this community has an infectious and palpable ambition. an open and honest belief that good work and good principles can create great things, Austin says, “Five years from now, I want to see a kino film at award ceremonies.” “In some ways, it’s not really about the technology; It’s just another way of making great films.”


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