With technological developments, the cinema sector is improved. For example, from the past, the shooting techniques that are utilized in movies are changed with technological developments. Also, the themes and topics of movies are changing regularly, thanks to the technology world.
Because of the relationship between technology and the film industry, we can say that this industry can be developed and changed via Web3 and its elements. Now, we want to focus on this circumstance in detail.
Investments for films
Web3 involves investments and payments via cryptocurrencies, and these digital assets can support the film industry in a good way.
In the film industry, one film is generally invested by two or three individuals, and then, these people check the scenes and other details of the film. This circumstance is not enough for the development of films in terms of money. On the other hand, films can be supported via cryptocurrencies in terms of investment. With crypto investments, films can get more investors, and more people can control the film industry. With this circumstance, the film industry can be developed financially.
As you know, budget is a very critical situation during the creation of artwork, especially movies, so cryptocurrencies can make the creation of movies easy due to their property based on the investment.
Actually, the importance of Web3 and cryptocurrencies are considered in the film industry. For instance, there is a film called Calladita; the film is directed by Miguel Faus, and it is funded via Web3, so it is called a ‘Web3 film’. Also, we want to emphasize that Calladita got Andrews/Bernard Award! Calladita is a good example of financial support via crypto in the film industry, but we want more examples of this situation.
Virtuality of film festivals
People want to spend their time for participating in film festivals, but traveling and spending money are significant issues about participation in these festivals.
From the past, we encounter lots of film festivals, and some of them are very popular, like Sundance Film Festival and Cannes Film Festival. However, we cannot join all film festivals due to their venues. At that point, Web3 is showing itself! With Web3, we met virtuality and the digital world in detail, and we understood that we can participate in film festivals virtually. Thanks to virtual film festivals, we should not spend money or consider accommodation in different countries. In addition to the comfort of participants, directors and screenwriters can make their films more accessible via Web3.
On 19-29 January 2023, Sundance Film Festival embraced a hybrid structure, so people got the chance to participate in this amazing festival from their homes! Hence, every person in this industry should understand the importance of Web3 for reaching more audiences!
Another aspect of Web3 for the film industry is that Web3 can change the structure of films. In other words, it can make films richer in terms of theme, subject, and interactions.
As you know, Web3 gives more importance to interactions than Web2, so it can provide films with interactions. Filmmakers can utilize virtual reality and augmented reality to offer interactive experiences to the audience. Furthermore, Web3 and its elements can be covered by films to develop people’s knowledge about this virtuality. In short, audiences can encounter unique experiences in the film industry via Web3.
Making films for everyone
In the current film industry, filmmakers must keep in with some distributors or exhibitors to show their films and reach their audiences. This circumstance makes the fun with films difficult for both filmmakers and individuals who want to watch different films.
Web3 can create a democratic environment for both filmmakers and audiences because it eliminates third parties, like exhibitors, so filmmakers can rely on Web3 to distribute their artwork.
To summarize, Web3 can make the distribution of films easy and quick, and the elements of Web3, like cryptocurrencies and Metaverse, can change the structure of films. Due to these benefits of Web3, filmmakers should focus on Web3 to make their audience happy!