Cryptocurrency has been making its way into the film industry with the emergence of the Decentralized Film (Film3) movement. MetaCannes is bringing the message of decentralization to the most popular event in the film industry calendar: the Cannes Film Festival. On May 16–29th, the virtual festival will run and introduce industry leaders and financiers to the Film3 movement via livestream.

First Flights and Web3-native studio The Squad have teamed up with Decrypt to host this event and are being supported by video and entertainment blockchain Theta Network to handle the virtual segment. The festival aims to show the potential of decentralizing the film industry and how it can bring benefits to filmmakers, producers, and movie viewers alike.

The event is featuring Spanish director Miguel Faus who crowdfunded his upcoming feature film “Calladita” through an NFT crowdraise with support from NounsDAO, as well as completion funding from Web3 film fund Decentralized Pictures. Participants at the invite-only cocktail party on May 21st will have a chance to have a fireside chat with Mr. Faus.

Film3 co-founder Jordan Bayne is convinced that the film industry can be revolutionised through decentralization. “Creator-led communities can be mini-studios," Bayne told Decrypt. “We believe that community is the utility, and Film3 is a product that offers a truly innovative way to move the needle towards a better future for all filmmakers.”

First Flights involves leveraging technology in a decentralized, democratized, and empowering way to create content. The company’s co-founder Phil McKenzie thinks it is one way to achieve a better future for the film industry. McKenzie noted, “We aim to spotlight these forward-thinking projects and companies.”

Through the Film3 movement, cryptocurrency is revolutionizing the film industry. MetaCannes is demonstrating how decentralizing the industry could bring a change by introducing Fil3 to industry leaders and financiers at the Cannes Film Festival. The event is showcasing how blockchain technology can empower filmmakers and make the process of creating and distributing content easier and more efficient. The pioneers of the movement are confident that its potentials can bring a better future for the film industry.



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