3 Indie Filmmakers Who Used NFTs To Successfully Fund Their Projects
With the whole world – and even the moon – jumping on the NFT rocket, it’s no surprise that the film industry is making full use of its stars to also hop aboard. NFTs deliver a whole host of advantages for both audiences and filmmakers alike by offering the potential to truly revolutionize the way that films are created, marketed and viewed. Spacesuits at the ready? Let’s dive in!
Movie fans can already benefit from the use of NFTs in the filmmaking industry – from investing in memorabilia from their favorite movies to actually owning a piece of the films that they love, it’s never been a better time to be a diehard obsessive fan who wants to develop a close bond with the person behind the camera. Some NFTs even offer unique digital work created by the filmmakers, executive producer credits and walk-on cameos.
However, it’s filmmakers who are really taking advantage of the Web3 wave by using NFTs to fund film projects. This new form of funding is especially appealing for indie filmmakers; without the luxury of a high-level blockbuster budget, they have to get creative in order to give their movies the sparkle and shine that they need to compete with the big studios. Some indie directors have already achieved success via this alternative funding method.
By sourcing funds from their fanbase in order to create the film, filmmakers develop a loyal community as well as a captive audience who are emotionally and financially invested in the movie’s success. One of the most attractive aspects of filmmakers using NFTs to fund projects is that it takes the challenge of distribution out of their hands. Whoever purchases the film’s NFT can choose to watch the film themselves and take pride in being a member of an exclusive club that gets to see the art – or market and distribute the film themselves, adding to the buzz around the movie and increasing the potential financial value of their NFT. As legendary Kevin Smith (more of him in a sec!) says, “Whoever buys it could choose to monetize it traditionally, or simply own a film that nobody ever sees but them.”
Filmmakers can also create more revenue after the release of the movie by selling uncut scenes via NFTs, as Hollywood royalty Quentin Tarantino is doing with his inimitable masterpiece Pulp Fiction via OpenSea. This scarcity marketing isn’t new to Hollywood, as the lucky few who got their hands on a limited edition Deadpool 2 poster back in 2018 know very well. Even Warner Bros. is getting in on the action by releasing digital mementos from the The Matrix franchise.
The momentum surrounding the movie NFT platform could completely alter the face of the entertainment industry. Let’s take a look at three indie filmmakers who have used NFTs to successfully fund their projects, paving the way for the new generation of directors who want to create true innovation in the film industry.
Kevin Smith – Killroy was Here
Starting with the pioneer of DIY movie-making himself is a great way to paint the true picture of what NFTs mean for indie filmmakers. Kevin Smith is no stranger to alternative forms of film funding. His first hit Clerks was made on a budget of $27,575 and shot in the convenience and video stores where he worked in real life. The thrifty director even cut costs by casting his friends in certain roles. The movie was bought by Miramax at Sundance in 1994 and propelled Smith into indie movie stardom.
Given his taste for unique ways to deliver his films to the world, Smith has unsurprisingly dived head first into NFT films – his latest horror anthology Killroy was Here is available exclusively via 5,555 NFTs on Legendao. And as an added bonus, owners of the KillRoy NFT will get the chance to collaborate with the director himself on the sequel!
The film itself follows a cannibalistic serial killer across various storylines and is going to be full of familiar faces for fans of Smith’s films, including his daughter, Harley Quinn Smith, and best friend, Jason Mewes.
From the look of the trailer, the audience can expect lots of thrills and bloodspills – however, unless you’re one of those who invests in a Killroy NFT, there’s no guarantee that you’ll ever be able to watch this comedy-horror flick. For Kevin Smith fans who do decide to buy Killroy on NFT, it’s almost like those surprise goody bags that you used to receive at birthday parties. You didn’t know what was inside but you knew it was going to be a fun treat…and, most importantly, it was all for you.
Anyone interested in investing in Killroy NFT should know that there are also 300 Premiere PFPs available as part of the KillRoy Was Here Premiere NFT bundle that gets owners exclusive access to the following events at Austin’s The Venue ATX:
- A live screening of KillRoy Was Here with Kevin Smith
- An intimate Q&A with Kevin
- Entrance to a killer afterparty with Kevin and the SCRT Labs team
The event will take place on June 8th, 2022 at 7 p.m. CDT.
Miguel Faus – Calladita
Miguel Faus is a new kid on the filmmaking block who’s taking full advantage of NFT funding to create his debut feature film, Calladita, based on the short film of the same name and starring Paula Grimaldo and Guillermo Campra. The term “Calladita NFT” has been gaining traction in the press surrounding the film because it is the first European film to be funded entirely through NFTs.
The project’s website explains the minting options and road map; Tiers 3 and 4 already sold out, leaving Tiers 1 and 2 available for any latecomers who still want to support the movie. The NFT funding has allowed production to begin and the cast and crew are currently shooting in Spain.
This new way of funding in the film industry is opening the doors for filmmakers like Faus who may not yet have the same industry connections or big budget backers. Great films have been made with little to no money and, thanks to the support of NFTs for filmmakers, Calladita and similar indie films can make their way out of the creative minds of budding filmmakers and onto the big screen.
As Miguel Faus recently tweeted, “A bet on @calladitafilm is a bet on the idea that Web3 and decentralization can help make cinema more diverse and led by passionate filmmakers. And hence, also a bet that Film NFTs will be a huge new wave in the space. Let’s create this wave together.”
Julie Pacino – I Live Here Now
The daughter of the legendary Al Pacino is breaking into the movie business the only way the next generation knows how – with new and improved technologies such as NFTs. Her horror movie, I Live Here Now, is being dubbed, “The first feature film to be fully funded through the sale of NFTs.”
In order to fund the film, Pacino used original photography to showcase the concept and rehearsal process of the film and released it all through an NFT collection of 3,356 photographs at her Keepers of the Inn project, as a way to pump up the budget for the indie horror flick. It took less than half an hour for the drop to completely sell out.
Thanks to the NFT funding, the project was able to begin in April 2022 and Utopia has signed up to produce and distribute the psychological horror movie. The film stars Lara Clear, Fern Cozine, and Kyle Kaminsky, and follows an actress who deals with a surprise pregnancy by running away from her Hollywood lifestyle to hold out in a hotel room – a hotel room that appears less and less safe as her stay continues.
Using NFTs to help foster a new type of film industry may still be in its infancy – but it’s looking more and more likely that this style of funding, distribution, and connection to audiences is here to stay.
Tags: Calladita, Filmmaking, I Live Here Now, Julie Pacino, Keepers of the Inn, Kevin Smith, Killroy Was Here, Miguel Faus, Miramax, NFT, Quentin Tarantino, Web3
