“It does remind me a lot of the internet bubble days, which I was very close to and had a front row seat to,” says Mark Kimsey of Electromagnetic Productions, a film and TV production studio that has made NFTs and blockchain technology a core part of its business model. “There were a lot of companies just doing the gold rush thing, with companies whose valuations made literally no sense [and] a whole sort of ecosystem of bad actors.
But even within the independent film industry — a business infamous for attracting hustlers of all shades — there are plenty of serious players getting serious about crypto. “At the moment we are just scratching the surface with the potential of this technology,” says Goldfinch COO Phil McKenzie. “Web 3.0 — using cryptocurrencies, the blockchain and smart contracts — can solve a lot of challenges that we face as filmmakers, as financiers, as distributors and as sales agents. It could change how we fund content, how we release it, how we make it.”
“This isn’t just about crowdfunding,” says Film.io co-creator Chris J. Davis. “It’s about providing our creators with a full-service kind of application to take them through every aspect of making a movie [and] connecting up with like-minded individuals who might have complementary skill sets. So if you need a lookbook or a poster, there will be people who are already part of our community who can do that and are looking for projects they can invest their time, energy and talent in.
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Why would they want to lose money?
Nobody with a brain buys fake horseshit.
Gosh I hope not, it destroys careers and the environment.
No and they shouldn't.
No
You mean the same NFT market that is in a free fall to absolutely nobody's surprise. Those NFTs?
No... no no no... the market for this is a disaster right now lol
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