Cointelegraph.comDecentralizationDeFiHollywoodMovie

DeFi will bring a new golden age for the film industry

There are opportunities to be leveraged in bringing DeFi to the film industry, making the investing process easier and more transparent.
With an explosion of video streaming as a result of the COVID-19 pandemic and now around $40 billion locked into decentralized finance protocols, it’s time for decentralized finance and the film industry to meet.Film financing is a cumbersome and inefficient system. Investors are the first to put their money in but last to see any return. There is no transparency into how funds are being used during production or how profits are allocated after distribution. Investment decisions are generally based on very little data about what people actually want to watch, so the chances of a film’s success are completely unknown until its release. DeFi and blockchain technology can address many of these problems by forming a new realm of decentralized film financing, or DeFiFi.Related: It’s time for Hollywood to move to blockchain — Yes, you read that rightWhat is DeFiFi?Imagine the creation of a decentralized film fund, in which financiers all hold a stake in the success of films that are produced by the platform. Using blockchain technology and decentralization, creators could present their projects to the community, which would vote on what films receive funding. The winning projects would be granted the financing they need from community-managed funds.The production of the films would happen off-chain, so there would be a need for oversight from members of the DeFiFi community to ensure funds …
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