The blockchain-based film financing application will launch with a $50,000 documentary funding award from The Gotham Film & Media Institute.

Web3 film funding platform Decentralized Pictures has announced the launch of its blockchain-based film financing application, set to go live during the Cannes Film Festival on May 20.
The app will launch with a documentary film award in partnership with The Gotham Film &amp; Media Institute; up to two winning projects will receive up to $50,000 each in finishing funds, alongside mentorship from the Decentralized Pictures Foundation and The Gotham.
The platform effectively works along the same lines as a decentralized autonomous organization (DAO). Filmmakers are invited to submit proposals on the platform for review, paying a small submission fee in the project's native token, FILMCredits.
They can earn FILMCredits tokens by providing feedback on other projects' proposals. The community then votes to determine which projects should be considered for funding awards.
Founded by producer-director Roman Coppola and members of Francis Ford Coppola's production company American Zoetrope, the Decentralized Pictures Foundation (DCP) is a 501(c)(3) nonprofit. It receives a portion of the profits from successful films funded by the platform, which are then allocated to new funding awards.
“After years of hard work, we’re opening our doors to the community and inviting independent filmmakers around the world to submit their projects for a chance to bring their visions to life,” said DCP co-founder Roman Coppola, in a statement accompanying the news.
Members of the site can pitch for film funding by paying a fee in the native token, FILMCredits. Image: Decentralized Pictures
"What we're trying to create here is an evergreen, self-sustaining film fund," Decentralized Pictures co-founder Mike Musante told Decrypt in a December 2021 interview.
Built on a "slightly tweaked" version of the Tezos blockchain, the platform has ambitions of eventually evolving into a "virtual studio," in which blockchain technology will play a part in every step of the production process. Our vision is that this virtual studio will be a constellation of apps that support independent artists and underserved artists," Musante said.
Although Decentralized Pictures has DAO-like elements, it's not fully decentralized at launch; projects voted on by the community will be submitted for review by an expert panel before funding is allocated. Still, the platform hopes to provide an alternative to the centralized gatekeepers that control access to the film industry as it stands.
"We're building another road," Decentralized Pictures co-founder Leo Matchett told Decrypt, describing the platform as a "filtering" mechanism to find quality filmmakers.
Hollywood players are already pitching in too.
Last month, "Ocean's Eleven" director Steven Soderbergh contributed $300,000 to fund an award on the platform. "As with a lot of things I’ve done, it’s kind of an experiment," Soderbergh told industry publication IndieWire, adding that he wants "to get up in the grill of this blockchain approach or structure to see if it’s going to do what it’s supposed to do."
On the platform's launch on May 20, participants will be able to sign up, submit, and review proposals on the Decentralized Pictures site. The submission process for The Gotham and Decentralized Pictures Documentary Initiative kicks off on May 20 and will run through June 20.  
Decentralized Pictures will be presenting the platform at The Future of Film, a series of talks hosted by Decrypt and FF3 at the Cannes Film Festival on May 20.
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Decentralized Pictures Launches Web3 Film Funding Platform The Tezos blockchain-based film financing application will launch with a $50,000 documentary funding award from The Gotham Film & Media Institute.

En marge du Festival de Cannes 2022, la Decentralized Pictures Foundation (DCP) a annoncé le lancement de son application de financement basée sur la blockchain Tezos afin de soutenir les cinéastes indépendants.   L’industrie cinématographique n’échappe pas à la déferlante Web3. Réputé pour son conservatisme et son entre-soi, Hollywood tente néanmoins de se départir de cette image d’Epinal pour s’ouvrir à d’autres horizons. C’est, en substance, l’une des missions de la fondation Decentralized Pictures, fondée par le trio composé du cinéaste et entrepreneur Roman Coppola, du producteur Leo Matchett et du vice-président de la production d’American Zoetrope, Michael Musante. Ladite […]

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Listen to this episode from Odd Lots on Spotify. We continue to see an explosion of interest and money flowing into the crypto/blockchain space. But recent price declines and the Terra disaster have raised new questions about what the whole point is. So ... what is the whole point? What is crypto good for? To get a better understanding of the state of the technology and the market, we speak with Arthur Breitman, the co-founder of the Tezos blockchain. The episode was recorded at the Milken Global Institute Conference in Beverly Hills.  See omnystudio.com/listener for privacy information.

Arthur B. on Odd Lots

Could you describe the staking element? What’s the purpose? The purpose is to Is to allow investors who believe in the project to be rewarded with additional returns. Do actors/producers receive Euros or KlapCoin? If Euros how is that converted? The project leader who are mainly producers or director will receive euros to finance their […]

Could you describe the staking element? What’s the purpose?
The purpose is to Is to allow investors who believe in the project to be rewarded with additional returns.
Do actors/producers receive Euros or KlapCoin? If Euros how is that converted?
The project leader who are mainly producers or director will receive euros to finance their movie.
In the long term we aim to be the reference entertainment currency.
Who owns the end productions? Royalties?
There are 2 main ways of working:
If we develop and resell the film this follows the classic process, the investor will have 90% of the net margin in KlapCoin.
And if we have co-production, we are the owner and so are the ticket holders.
Is Lux a utility token? Lux is a governance token.
Do you have any movie theatres on board? We are in discussion with big French or international production companies.
Will visitors to the cinema pay in klapCoin or euros? Yes in the future, it is the one of the goal but one step at the time.
Will you be interacting with the EURL Euro pegged stablecoin with the projects? Our project is in the real economy and the web3 revolution has not yet affected everyone in the sector. That’s why it was important to be backed by the euro to be able to pay them and also to bring stability to the project.
But the project is also very interesting and profitable for the investors thanks to the Lux, the staking programme and the return from the resale of the films developed.
Why do you need two coins?KlapCoin is our stable coin backed by euro DEPOSIT and held by the partner, the first French PSAN bank “Delubac &amp; Cie”.
And we need a governance token to give opportunity to the community to vote and to be more involve in the project.
Are NFTs used in any areas of the project?Yes, the tickets that represent the share of KlapCoins held are equivalent to an NFT and can be resold on Tezos compatible platforms like Objkt.
Thanks to the exceptional technological support of our partners EXAION and TEZOS, we also created NFT Contracts, guarantees to the assignees of the acquired rights thanks to the Blockchain mechanism for any developed movies project.
The NFT becomes a balance sheet asset that can be freely transferred, shared or exchanged.
Why did you choose this method of funding rather than more traditional routes? Because we believe in web3 technologies and in our project, we use crypto through KlapCoin, but also the blockchain technology with our NFT contracts.
And we wanted to democratize the audio-visual financing project.
Is the KlapCoin ICO live now? Yes.
What is the current status of the ICO? Running.
What films/TV Series are in the pipeline? We have received more than 100 projects film/tv series and we have not launched any campaigns for these yet. 5 of them are very encouraging.
Will there be a particular films/tv series will be focussed on? Any films or tv series are for the public. One of our key word is diversity (format and type : comedy, action, thriller, fantasy, drama…)
Have any partnerships been formed? We are in discussion with some big production, but we can’t speak about it yet.
Why use Tezos instead of any other blockchains? Were other blockchains considered?The choice of the blockchain was very important for us. Tezos has:
 Clean NFTs: 2 million times less energy-consuming than traditional blockchains.
Astonishingly low gas fees.
A democratic and scalable ecosystem for many users
Formal proofs and security.
A strong community of developers and researchers.
We have also created strong connections and a good relationship with Nomadic Labs (At Nomadic Labs, they are working on the core development, evolution, and adoption of the Tezos protocol in France, Luxembourg, and Belgium.
How are the holders engaged with the films being produced? Do they influence films at all? Of course, they influence films because thanks to the lux they can vote.
For example, the selection committee will be highly influenced if the majority of the community want to see more tv shows than movies.
As the project progresses, the DAO will gradually be put in place and the community will be increasingly involved in strategic choices.

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Adaptive issuance. 
For the security of its consensus algorithm, Tezos relies on bakers that place security deposits, equal to about 7.6% of the supply of tez, and attract delegations. Those bakers are compensated for th&hellip;

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