Is Film3 A Weird Concept Or A Revolution Waiting To Happen?
If you’ve been paying attention to the tech and crypto spaces recently, you’ve probably noticed a lot of excitement about Web3. The belief is that Web3 will be the next stage of the internet’s evolution – a future in which people have more control over the type of content they get to see on the internet. So far, Web3 has cut across cryptocurrencies (the future of payments), non-fungible tokens (NFTs – the future of ownership), and metaverses (the future of social interaction), among others.
But there’s one more beautiful, yet overlooked area of Web3 that’s growing: Film3. Like many revolutions, Film3 is already seeing a lot of traction. So, what is Film3, and will Film3 movies really be the standard for our movie space in the coming years? Let’s find out.
What Is Film3?
In its simplest sense, Film3 is the next stage of movie evolution, powered by technology. Just like the internet itself, the movie space has evolved significantly over the past few years, and it’s easy to break this evolution down into stages.
Film1: The “Take What You Can Get” Era
When Thomas and the Lumiére brothers created the Kinetoscope, the first film viewing device, they started a chain of events that would eventually shape the world long after they were gone. Film gradually went from something inaccessible to something people could easily enjoy.
As demand grew, producers created more engaging films across multiple genres. (Picture walking down to cinema in the 80s to see now-classics like Top Gun and The Shining. What an experience!) Back then, films worked according to box office schedules, which trickled down into movie channels; anyone who tuned into a channel at a specific time would be able to watch the movie.
Film2: The “We’ll Give You What You Want” Era
Soon Film2 came along. This stage made it much easier for content and users to match. Filmmakers and movie studios partnered together to research target audiences, then created movies that were attractive to those audiences.
Thanks to the growth of the internet, movie watchers have been more vocal about what they want to see. Big studios have been able to move quickly and meet the demand for specific movie genres and types. The rise of streaming services has also made it much easier for consumers to watch movies, regardless of where they are. Unfortunately, piracy has also been one of the markers of Film2.
Film3: More Than Just Watching Movies
To be fair, Film2 is awesome. The ability to consume content whenever you want is quite liberating, and movie studios have also been able to operate more efficiently by giving people what they want.
The problem, though, is that Film2 suffers from the same issue as Web2: the landscape is controlled by major movie studios. And as these studios only cater to popular movies and genres, making independent movies has become much more difficult.
This is why Film3 and Web3 are here.
Potential advancements in blockchain technology could give people the ability to manage the platforms they use. And similarly, we could see a new era of filmmaking where audiences control the movie industry.
Today, movie studios select scripts, provide financing for movies, and even handle tasks like distribution and marketing. All you have to do as a consumer is watch the movie and give your verdict. With Film3 – or Web3 movies, if you will – studios will only be needed for the latter stages of a movie’s timeline.
Audiences can vet ideas for scripts, have a say in things like casting, and engage in Film3 crowdfunding to fund movie ideas that they’re interested in. This approach democratizes the filmmaking landscape. Filmmakers and fans have complete creative control over specific plans, and movies can be made to the tastes of those who actually want to consume them.
Examples Of Film3 Projects
Although it’s still in its early days, Film3 is currently making a lot of waves among movie fans, and several top studios have already started embracing the concept of NFT films. Let’s look at some notable examples of movies that have succeeded in this new and exciting space.
Lotawana
One of the first films to be released as an NFT, Lotawana is a 2021 movie made by Emmy-winning filmmaker Trevor Hawkins.
Hawkins worked on the film for about six years. Following the rise of NFTs, he decided to take an unconventional approach to financing his movie: Film3 crowdfunding. Hawkins created 1,000 NFTs and sold them on OpenSea at $1,000 each. With the money he made from the sales, he was able to bring his movie to life.
But Hawkins’ NFTs weren’t just for fans to buy and keep. All holders also had ownership shares in Lotawana – meaning that they got a cut of the revenue from the movie. Hawkins also sold a different collection of NFTs for $100 that gave buyers access to the movie’s premiere.
Zero Contact
Another movie widely believed to be the first of many NFT films is Zero Contact. Also released in 2021, the movie stars two-time Oscar winner Sir Anthony Hopkins.
Today, there are still NFTs of Zero Contact on OpenSea – the largest NFT marketplace in the world. Sir Hopkins himself has gone on to release a personal NFT collection as well, inspired by the movie.
Huxley
For comic book fans, there’s also a bit of Film3 coming your way. Earlier this year, Arad Productions – a movie studio founded by Iron Man producer Ari Arad – announced plans to turn a comic book project into a movie.
The project, titled Huxley, is based on an NFT comic book of the same title. The comic series was developed by Ben Mauro, a graphics and virtual effects designer credited with popular sci-fi movies such as Lucy and Mortal Engines.
Huxley is a sci-fi tale spread across six digital issues. All issues are sold as NFTs, and Arad Productions is looking to bring Mauro’s vision to life using these interactive tokens.
The Infinite Machine
While it isn’t out at the time of writing, The Infinite Machine is already generating a lot of buzz, especially in the crypto space. The movie tells the story of the founding of Ethereum – arguably the most functional blockchain in the world, and a major player in the rise of NFTs.
The Infinite Machine is based on a book of the same title written by Camila Russo. Published in the summer of 2020, it’s the first of three books that chronicle the founding of Ethereum by Vitalik Buterin and his partners. The series focuses on how they transformed Ethereum from a teenage fantasy to the world’s second-largest cryptocurrency.
Russo has also enlisted the help of Ridley Scott – one of the most prolific filmmakers of our time. Scott, through his production company Scott Free Productions, signed on to produce The Infinite Machine in 2022, although no release date has been announced yet.
Film3 is here, people. Like all concepts, it might take a while before it becomes a mainstream hit. However, the movies outlined above are just the tip of the iceberg and a sign of what’s to come.
Thanks to the ongoing work on NFTs and blockchain technology, big studios are buying into the idea, and more filmmakers feel comfortable releasing their products or crowdfunding their work. At the moment, it could be a matter of when the revolution takes over Hollywood itself, not if.
Featured image by Myke Simon on Unsplash
