How NFTs Can Revolutionize the Film Industry

Transcript

so this presentation is going to be really interesting because you'll be able to actually learn firsthand about how to make an nft film because the person i'm going to introduce now um he's made the first european movie to be funded by nft completely so it's fantastic the film is called caladita or caladita and i would like to welcome the stage miguel faust thank you hi everyone thank you for for being here so oh yeah today we're going to talk about how

film and how nfts can revolutionize the film industry and i'm going to use my my own project cadita as an example of how we've been doing that and it's it's super early in nfts but it's even earlier in film nfts so um we're just we're experimenting and there's a lot more to come i'm sure first question is who here likes movies all right all right pretty much everyone so i have bad news and good news for you but we'll start with the bad news cinema is the most centralized art form in the world it's um because it's very expensive the the films that get made are controlled by a handful of

corporations especially in the states and here in europe by a handful of government bodies that essentially decide which films get made and which don't as a result of that we as audiences miss out on a lot of great films that gohan made a lot of great talent that gets wasted and the good news though is that web 3 has the power to change that thanks to nfts and the blockchain we can empower filmmakers by empowering audiences and this part for me i think is key because it's all about empowering the community to to shift that power from a handful of corporations deciding what gets made to a community deciding what can get made

and and then once that happen then filmmakers can can be empowered and not have to answer to the powers that be but to their community so let me show you how we're doing that with cayadita as mentioned cayeta is the first film in europe ever to be funded by nfts the project started a few years ago when i made a short film called cayadita that before i ever knew what nfts were unfortunately this was in 2019 if i had known i would probably be richer um but then the film went to other festivals internationally did pretty well ended up on hbo max in the us they they got it they acquired it for

streaming after that i started thinking how can i turn this into my first feature the same story and make a feature length movie out of it and i went through all the the normal hurdles of trying to get a first film financed here in europe with the traditional methods that are mostly public funding the development of the project got some attention i went to some lab programs etc but it became apparent that that that the public route kind of wouldn't work or at least it would take many years it's kind of a waiting game where you just have to keep trying and the whole system is very opaque and uh i just

you know i i wanted to make the film i didn't want to wait around until someone gave me permission to to make it so because i had been in the nft space for some time i i said hey maybe we can do this with nfts maybe there's a there's a way that films can enter the nft space and we can fund this film with an ft collection essentially so that's that's what we did um i created a collection of 2400 nfts out of frames of the short film uh these are some examples and well the thing is i had to there was a lot of steep learning curve because i had to hire a team of developers there's no kickstarter of web 3 yet that's just uh a result of how early we are right but

i'm sure a lot of people are building it so so it's gonna be easier in the future anyways i created this collection of still frames and videos of the of the short film and minted them well so sell them on ethereum uh and in here you can see more more clarity on this there was essentially four tiers or there is because we're still minting but we have sold out the highest tiers but we're still minting the most affordable tier so anyone can still join but anyways um we created this collection and all the funds go straight into the funding of the movie so essentially it's kind of similar to a kickstarter but of course because you probably are all legions you understand this that because of web3 and

nfts it's a much better version of kickstarter because whereas in kickstarter just just get thanked and maybe you get a t-shirt to show that you supported a film to be made but it's just essentially a donation here thanks to nfts you get an asset that is digital and that lives on on the blockchain and essentially there's a chance that your asset that you got for contributing to the film might appreciate in the future we have a very impressive family of collectors and that's something that we've it's been very very great for for the project and the crypto punk family really got behind it and and especially some you know very prominent figures in the nft space that

a lot of you might know uh for example for me as an artist the fact that a lot of great artists that i admire uh joined the project and minted the entities was very was very great like justin aversano or snowfall the founder of artblocks or claire silver who's a hero of ai art just so if in case there's any apes here so that you don't get angry there's also a lot of eight that that minted the the project um but what i always said about the about kayadita is that our roadmap is very simple because we don't make any huge promises we just promised that we're going to make a great movie hopefully and that we want to make our holders proud to be to have participated

in the movie uh so you know it's like two priorities is making an amazing movie and then making our holders happy that they participated then that second part ties in with the kaita dao you you might have seen some projects around some of them great are essentially trying to disrupt the whole film industry by by doing a studio down kind of approach where you you create a dow to to be a decentralized studio in our case it's a bit different because we want to shift the order right first we make a movie and if the movie works then hopefully that can turn into into a production company that is decentralized because our commitment is as 50 of the profits from the movie will

get put into a community wallet or a dow that will be governed by the holders and so if if the movie does well then we can be at in the future a decentralized production company that starts funding other nft films and essentially starts to change those power dynamics that i was speaking about recently we created this um these two additional nfts that i think because when i started pre-production of the movie we're filming in september here in the costa brava actually i just realized that i didn't tell you what the movie is about that was probably a mistake just very briefly and the movie is shot in the costa brava here in spain and

it's about a domestic worker from latin america who works for a rich family in spain so it's a story of female empowerment and liberation of this character but also through her eyes it's a social satire of the wealthy class here here in spain so as i was saying one of the utilities of rnft is that we always envisioned was to take our holders on a journey of you know experiencing very firsthand how we're making this movie and so once we got into pre-production uh a couple few weeks ago because we're filming in september we released these two nfts that essentially give people well sorry the videos are stopped but anyways these

nfts that give our holders access to a very unique behind the scenes experience where we are for example if i have a call with the with the production designer of the movie about her mood boards of how the style of the movie is going to be then we record that and we upload it into a token gated platform called beam where our holders can experience it but and can watch it and can you know see that behind the scenes content but life as the movie is being made as opposed to after the movie is released and because we wanted to expand this beyond our current holder base of the of the main nft collection we did it with these tickets where we we did a free claim of the tickets for of our holders but then

the cool part is that the popcorn worked kind of as an allow list to meet additional tickets so uh it's a bit complicated but i'll explain it um if you are holder you get a ticket but you also get 10 popcorn so you can send the 10 popcorn to your friends and then your friends can mint additional tickets for like 20 dollars and then they also get more popcorn that they can also send to friends so it's like a viral minting mechanism which you know is kind of a bit innovative in the space and we think this kind of maintain dynamics are going to be very interesting going forward these are some of the utilities that come with this all access pass like video diaries q a's rehearsal tapes uh behind the scenes footage and then also

in post-production it's gonna be very interesting and exciting because we can do test screenings with our community where we can ask their opinion on different things and they they can participate in the creation of the movie in that stage so that's it for my presentation but i would love to take any questions if you guys have any yep go ahead hey yeah thanks just when the movie is done are you guys thinking how are you guys thinking about monetizing the movie and how to tie with centralized entities like netflix you know making deals with them to

to just show the movie and get some some cash back i guess sure so our main goal is for the movie to be seen by as many people as possible and as i said the main goal is to make the holders happy let's say so once the movie is made we will look at the best distribution strategy for for that to happen and the good thing is that we haven't pre-sold any windows so we we have the but we own the movie and we will decide what is best for for the movie um you know i would love for audiences to be right now on the centralized web 3 streaming platforms already but the the reality is that they aren't yet and so

we we won't probably be able to just do a web 3 strategy for distribution but we will start with festivals and then move on to theatrical hopefully we find good partners in different treaties and then streaming but to your point about as a big streamer kind of um what we won't do for sure is sell out the movie let's just put it this way you know streamers would be great for for uh distribution deals where they get a streaming rights for a certain amount of time and that's great but what really doesn't bode well with our ethos and the whole nft strategy behind it would be to just sell the ip to a streamer and be done with it uh you said about using kaya dita as it

evolves after the movie to maybe find other movies uh right what's the idea on the strategy like have some uh mind and how it could work to have the kayak as a studio in the future or is it still like too early to think on that i mean yeah it's a bit too early um for the specifics of that to to be decided um i was you know a lot of projects talk about the future dao as a kind of weird promise and it sounds a bit weird in our case it's we haven't established the dao yet just because the dao is supposed to govern over the process of the film so it there's no point in setting it up yet until the film starts to generate

profits uh once it's finished um it will be left to to the holders to the side i mean maybe the the holders prefer to throw a huge party for a screening with the with the proceeds and and not fund a future film i hope that they will be happy with having funded carlita and they want to continue with that but it will that's the beauty of decentralization it would be up to the holders we have any more questions nope well thank you very much everyone okay

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