The mainstream adoption of digital assets and their underlying technology, the blockchain, has been one of the main goals that the crypto industry had. There have been marked a lot of achievements in this direction that support this final goal, and now, another great news emerges regarding boosting the use of blockchain.
Blockchain takes the entertainment industry to the next level
The entertainment industry is extremely exclusive, and it only allows the participation of select individuals.
It’s interesting to note that the most important studios have regressed and became market machines and the corporate investors who are making vital decisions on what scripts and concepts get approval for production and which are not that lucky.
All this leads to a disconnected community, and creators do not always meet fans’ expectations.
This also means that Hollywood often misses a great chance with amazing storylines and aspiring creators due to the marginalization mentioned above.
All this is about to change, and it’s thanks to Filmio – a blockchain-based solution for empowering film.
Filmio, the blockchain-based solution, will restore the link between creators and fans
According to official notes, Filmio is an entertainment platform and ecosystem that has the final goal of democratizing the filmmaking industry, TV, and VR industries as well.
This is a gamified ecosystem that is functioning as a creative incubator, market validator, and also distribution launchpad.
In other words, Filmio’s platform will be able to incubate, validate and enable brand new projects to launch, and this will open film creation to the masses, to creators who have been marginalized all this time by a closed-off entertainment industry.
Harnessing the power of EOS’ blockchain software
Filmio will be based on the power of EOS software, and the platform will provide a space for creators and fans to work together throughout the whole creation of projects and validation processes.
The AI and machine learning algorithms are processing data from fan, creator, and investor behavior, and these will also drop the feedback on projects before they get the green light.
There are three main phases of the whole process.
Incubation
This first phase will offer creators a platform to post, market, and also promote their film projects; fans will be able to engage with them and to enable them to develop all kinds of project fanbases.
Validation
During this second phase, the creators get ratings and evaluations, donations, subscriptions, and more such behavioral markers from their fans – this will lead to a democratic process of greenlighting new projects.
Distribution
The third phase of the process involves connecting fan-validated creators to investors, networks, and studios – this will have the effect of reducing risks of projects failing due to financial reasons, and it will also enable fan-preferred content.
It’s also important to note the fact that Filmio’s platform will incentivize the fans’ participation via FAN, which are utility tokens that fans will receive for participation. These coins will only have utility on the Filmio platform.
Also, accredited investors will have the opportunity to invest in the platform via security tokens called FILM – these offer passive income as dividends from the revenue that the platform receives.
“We are delighted to announce the launch of the Filmio platform, which will break down the longstanding barriers of the entertainment industry,” according to Filmio President Ian Lewinter.
He continued and explained that “Through the power of a decentralized ledger, we believe in the democratization of film and the cultivation of an empowering, symbiotic relationship between creators, fans, and investors.”
The entertainment industry is about to change and get a boost from this blockchain0based solution, and we are here to witness it all.
