Can DeFi Save Indie Film?
November 26, 2022 5:29 AM Subscribe
Decentralized Pictures is one of the leading proponents of DeFi Cinema. It is also one of the few (only?) non-profits. They offer opportunities of up to $100k USD to finance anyone's film. There are others.
I discovered Decentralized Pictures (DCP) via an article on Indie Wire.
My initial skepticism of crypto was minimized by their non-profit status, their partnerships with filmmakers like Stephen Sodenbergh, and their founders and board of directors that include members of the Coppola clan.
Other entities in the DeFi Cinema universe include: Vabble, Mogul, First Flights Films, Replay, and DefiMovie.
More populate in this image chart: "The Film 3 Landscape"
YMMV.
Disclosure: I submitted two projects to DCP. A registered free account is required to access all past and current projects. It includes KYC requirements.
I discovered Decentralized Pictures (DCP) via an article on Indie Wire.
My initial skepticism of crypto was minimized by their non-profit status, their partnerships with filmmakers like Stephen Sodenbergh, and their founders and board of directors that include members of the Coppola clan.
Other entities in the DeFi Cinema universe include: Vabble, Mogul, First Flights Films, Replay, and DefiMovie.
More populate in this image chart: "The Film 3 Landscape"
YMMV.
Disclosure: I submitted two projects to DCP. A registered free account is required to access all past and current projects. It includes KYC requirements.
This post was deleted for the following reason: Sorry, this really isn't a framing for a post: written in the first person ("how I feel about it"), about a contentious topic; the premise seems sketchy and the post feels promotional; OP personal involvement. -- taz
It's sad to see the crypto disease spread; just because there are big names involved doesn't mean this isn't a scam.
posted by sriracha at 5:48 AM on November 26, 2022 [3 favorites]
posted by sriracha at 5:48 AM on November 26, 2022 [3 favorites]
I'm clicking the links so you don't have to.
To express our approach to accomplishing this important mission we have created the first version of The Declaration of Independent Film.
Scam-o-meter rising...
By using blockchain technology and FILMCredits, our unique digital currency,
Scam-o-meter rising...
DCP creates a transparent curation platform and autonomous rewards system in which every participant is accountable to the network.
You don't need a digital currency to do this. Scam-o-meter rising...
With smart contracts built on a blockchain, DCP delivers a level of trust and transparency never before seen in the film industry. Contributors on our platform may submit and review content as members of a global network and be rewarded for their merit.
LOL meritocracy rhetoric. Scam-o-meter rising.
Decentralized Pictures lives on T4L3NT Net, an arts and culture blockchain we built for creatives, secured by nodes run by members of our community. Members who run nodes are also eligible to earn FILMCredits also known as FILMCoins for their contributions to the network.
What does mining cryptocurrency and maintaining a blockchain have to do with funding films?
To inquire about running a node please checkout our mining info page - the more participants, the better!
Yeah, that is indeed how pyramid schemes work.
Oh, but this cryptocurrency can't be a scam because famous celebrities are involved!
posted by AlSweigart at 6:03 AM on November 26, 2022 [4 favorites]
To express our approach to accomplishing this important mission we have created the first version of The Declaration of Independent Film.
Scam-o-meter rising...
By using blockchain technology and FILMCredits, our unique digital currency,
Scam-o-meter rising...
DCP creates a transparent curation platform and autonomous rewards system in which every participant is accountable to the network.
You don't need a digital currency to do this. Scam-o-meter rising...
With smart contracts built on a blockchain, DCP delivers a level of trust and transparency never before seen in the film industry. Contributors on our platform may submit and review content as members of a global network and be rewarded for their merit.
LOL meritocracy rhetoric. Scam-o-meter rising.
Decentralized Pictures lives on T4L3NT Net, an arts and culture blockchain we built for creatives, secured by nodes run by members of our community. Members who run nodes are also eligible to earn FILMCredits also known as FILMCoins for their contributions to the network.
What does mining cryptocurrency and maintaining a blockchain have to do with funding films?
To inquire about running a node please checkout our mining info page - the more participants, the better!
Yeah, that is indeed how pyramid schemes work.
Oh, but this cryptocurrency can't be a scam because famous celebrities are involved!
posted by AlSweigart at 6:03 AM on November 26, 2022 [4 favorites]
Joe, if you've gotten involved with any of this web3 blockchain nonsense, please just get out now and don't "invest" any more money. It's not the future of film finance or empowering overlooked creative people or whatever bs they're spouting now. It's just a scam. They take your US dollars and give you worthless magic beans in return. It also reflects poorly on you that you're posting this on mefi trying to get others involved in this scam.
posted by AlSweigart at 6:13 AM on November 26, 2022 [2 favorites]
posted by AlSweigart at 6:13 AM on November 26, 2022 [2 favorites]
"why our own chain?
gas costs on layer 1 chains have been an ongoing issue. an arts & culture focused blockchain sounds romantic, we are artists after all. we aim to create an ecosystem of creative projects and applications to support the art and artists. we need rails for the first app on T4L3NT, a financing and support app that has an incentivized behavior model to aggregate data and determine which artists are most deserving of support from the DCP fund and partner network. this goal would be greatly hampered by high gas costs. DCP will pay the gas within our apps for our users. it would have been too unpredictable to pay these costs for our users on a chain we are not actively participating in."
Translation: the pyramid scheme only works if we are at the top of the pyramid.
posted by sriracha at 6:15 AM on November 26, 2022
gas costs on layer 1 chains have been an ongoing issue. an arts & culture focused blockchain sounds romantic, we are artists after all. we aim to create an ecosystem of creative projects and applications to support the art and artists. we need rails for the first app on T4L3NT, a financing and support app that has an incentivized behavior model to aggregate data and determine which artists are most deserving of support from the DCP fund and partner network. this goal would be greatly hampered by high gas costs. DCP will pay the gas within our apps for our users. it would have been too unpredictable to pay these costs for our users on a chain we are not actively participating in."
Translation: the pyramid scheme only works if we are at the top of the pyramid.
posted by sriracha at 6:15 AM on November 26, 2022
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posted by AlSweigart at 5:45 AM on November 26, 2022 [2 favorites]