Sundance Film Festival embraces blockchain and crypto film initiatives

Web3 technologies continue to infiltrate various mainstream industries to bring innovation to old systems. This includes legacy creative fields such as the music industry and more recently, the film industry.

This year, the Slamdance Film Festival, an oscar-accredited film festival for indie filmmakers, will see the premiere of the new film “Fuzzy Head,” which received its funding through the blockchain-powered crowdfunding platform Untold.io. 

Ali Aksu, the CEO of Untold.io, told Cointelegraph that filmmakers, as in the case of Fuzzy Head, can use blockchain technology to democratize their financing process and open up investment opportunities to both accredited and unaccredited investors.

“The most important aspect of crypto/blockchain integrations in the film industry will be opening up a new asset class to all kinds of investors via compliant security tokens and increased fan engagement via NFTs.”

Recently Untold partnered with Dapper Labs to accelerate the technology and allow for wider access to its programs. The platform has also supported other notable films, including The Comeback Trail which features Rober de Niro and Morgan Freeman. 

Related: Bluechip NFT project Moonbirds signs with Hollywood talent agents UTA

This is not the first instance of a film festival seeing crypto and blockchain components in films that are premiering. In 2019 the Filmio blockchain platform attended the legacy Sundance film festival to scout projects for its blockchain-based entertainment platform.

Last year Liquid Media Group announced its first blockchain film streaming with a slate of digital panel presentations during the Sundance festival. The company also presented the impact of nonfungible tokens (NFTs) on filmmakers and their communities.

In 2022 Russel Crowe’s “Prizefighter” film used NFTs to partly fund its production and became what the director called an “audience-driven film.”

Aksu said that the utilization of blockchain-based tools by legacy directors and major festivals brings visibility to these tools for independent filmmakers who would highly benefit from them.

“These are also great opportunities to create a real community behind revolutionary movements like blockchain.”

Last year film director Anthony Hopkins sold out an NFT collection based on characters in films he had already released.

Quentin Tarantino also created NFTs based on his ionic film “Pulp Fiction.” However, he was later involved in a major lawsuit with the film production company over copyright infringement.

All Dutch and English crypto news!

Moody’s to build scoring system for stablecoins: Report

Credit rating firm Moody's is allegedly developing a scoring system for stablecoins, with analysis for up to 20 digital assets, Bloomberg reported on Jan. 26 citing unnamed...

ISDA releases standard definitions for digital asset derivatives

The International Swaps and Derivatives Association (ISDA) is working on two papers to address fundamental legal risks in the crypto markets, such as the insolvency...

Here’s why Bitcoin price could correct after the US government resolves the debt limit impasse

For much of 2022, the crypto market focused on the U.S. Federal Reserve's actions. The central bank created a bearish environment for risk-on assets like...

Sens. Warren, Wyden question quality of auditors’ oversight in light of FTX debacle

Two United States senators have taken their questions about the performance of the accounting firms active in the crypto space to a higher power -...

Beste exchanges

Koop je crypto bij Bitvavo