The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast - Oct 13: Crowd Fund Your Film With Blockchain!

Follow The Decrypt Daily Twitter: @decryptmedia Website: Follow me on : Twitter: @TheDecryptDaily IG: @TheDecryptDaily Stephen Graves @stephengraves The Swissploitation Movie Using Blockchain To Turn Fans Into Investors DC Comics Artist to Release Batman NFT in Art Collab

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Pamlico. Co this Matthew Aaron today on the show DC Comics artist releases a Batman and ft a bummer in Japan demands Bitcoin as Ransom and the main story raising funds on the blockchain for the film industry. We talked to the Crips managing editor Steven Graves coming up today on the decrypt daily.

What's up, everybody? Today is Tuesday, October 13th, 2020. And today I'm not going to do the crypto prices because I'm recording this at 8:30 a m a s o f i can put it down release it this afternoon if we totally irrelevant or whatever. I see the price is going to be so they were just go straight into the interview with managing editor. Steven Graves wouldn't talk about raising funds on the boxing for the film industry. One thing. I really like about this. I really just like independent creative can raise money for things that they love is really hard for an independent person that has a great idea may be very talented but because they don't have a big name is easily overlooked by investors and just like you to back in the day or podcasting or anything that allows the average person to buy computer for a mic or go out there and try to raise funds to show what they got the world. I am always disappointed. I am excited for this conversation about the little bit that we talked about at the end where it can get diluted it can be at as Steven said gentrified. We're big companies or big names come in and just take off.

Are out of these projects. He's independent fundraising sources and use it for their own selfish. I guess corporate means or promote their brand or their name instead of where should go is the independent creative. So enjoy the conversation with Stephen and then afterwards I'll be back for other news. Even how you doing. Welcome to the show talking about black scene in movies. Look we you send me this amazing trailer. This link is in the description folks. It's amazing. It's a Swiss Floyd Haitian movie were talking about people getting murdered with fondue and Tobago. It's quite hilarious. What's the key to this is that it's greasy money using blockchain first, you tell me about the movie and then tell me about how they're raising money using blasting is cooled Matt Heidi and it's pretty much everything but the name suggests. It's about Holly TV switch.

Lights of with people get busted with drugs in fondue and it's old version of Smokey and gory what are the produces is one of the guys behind the eye in the sky franchise, which was the Nazis on the moon series, which also raise money through crowdfunding using blockchain. I mean, is it just like they're doing really good until like a Ico for movies. Like what is the whole premise in instructor rounded you doing is you can invest in the film in the same way that you would normally do a crowdfunding on Kickstarter people can pitch in I think it starts at 500 Swiss Francs with Kik salsa where you pitch in money you got like a t-shirt and a Blu-ray or maybe your name in the credits of the film what they're doing is using an investor in the cell.

You put in a high five hundred francs and you get a cut of the profits from the movie. And if you put in more they give you a copy of the motion to icing wrapping you as well and you guys all this other stuff like t-shirts and mugs and also a director of movie then we're going to go into that a little bit but different ways that people have to raise funds to if you're going to get punched into the government in Europe. I don't know if United States of the same way. I would love for you to tell me a little more about this but how they have to comply to some restrictions or regulations or say wants from the government to get that money. So I would assume if I'm correct with the super missed that this is a way to raise money for a movie within a country without may be meeting all those Expectations by different governments with this something like that. Yes.

How to make an indie feature you tends to raise money from various interested parties a substantial chunk of the funds tends to come from film commission's which episode of government bodies to the movies and there's a guy from from points out the problem with this is but those funds are allocated based on all sorts of different restrictions like under European CH you will end up usually drawing money from various different film commission's I don't let them have different sets of restrictions. So you take money from the job in film commission and you end up having to make you know, 40% of your costume crew German, you take money from the French film commission and the film has to be in French or something besides you has to be in French certain type of film at 10 to get made which is very few locally-focused drama type field and films like the sort of feels that he makes with, you know maddix Motoring.

Genre pieces exploitation films that sort of thing don't tend to get any love from the film commission's so the idea here is that you should have build a fanbase based on the concept of the film cuz it's a high-concept page is a few films of dumbest Ivy is piping depending on Studio ones where they Nazis on the moon or fighting like Nazis or whatever. I miss generates Electabuzz and you get a load of fans interested in the film. And then the question is what has you turn that into money the solution that I've come up with is this is this blockchain system where you make the fans essentially micro investors in the movie The Profit if it does make profit, I would that work. Well, that's because otherwise it would just be a normal crowdfunding drive on my Kickstarter or Indiegogo. So interesting thing is that

Assyrian by Shpongle film chained to this on film Shane was originally set up just to allocate the the funds in a film, you know, just a conventional I'm so you got you know various different production Partners involved in it and produces putting large sums of money into it and filled chain would be used to create a new musical log of where the money's going and who's entitled to what percentage the guys from from Matt Heidi said and said, well, this is great. But we want to let people in very small amounts of money relatively speaking in this film and tract holder Investments and prior to this. It wasn't feasible to go to Tesco to have a large number of micro investing in the film because just tracking the flow of money when they each of them even though it was like Northpoint Nordahl 1% of the profits would be

Sleep nightmare say it would be a huge challenge to be tracked for the flows of money to live these different micro investors and see what they've done. Is they fix that up to this system? How does Subway toast their funding go and the big question is gross like whether they can actually, you know, whether to find interested they raised up to this point translates into actual money, you know, 2017-2018 Ico crazed a lot of these Clipper company started to try to tokenize or do cross-dressing this way. I mean, I saw, you know musicians try to raise money for this or musicians have songs and sell pieces of their songs like in the NFC soak into two different people who wanted to invest in their music. I thought it just kind of think that this crowdsourcing idea is a great idea are these tokens trade if I buy say bet Heidi token for $2. Can I sell it to you? That thing is a great price for 3.

How to track the funds Ledger Ledger not do you think that this is a good idea? I mean have you ever had problems raising funds for you some of your films and do you think that this could be a solution for you in the future? You could be I mean these guys that's what is pioneering it and other essential oil changes on whether they actually succeeding whether they make the film because otherwise if they if they don't raise all the funds people going to look at this and say well this is playlist in the great Sunday message and it might take a few years for it to gain traction off the bat but down the line. I think you could be really interesting for kids to build missions with friends and not going to sell the rejected brothers and I do think it's interesting the idea that the pieces and sort of slight you

Ideas, Doug 10 to get a load of love with with Billboards and film commission's they told us about potentially for the down. The line was a different applications of this idea that you could find a Slater films through crowdfunding so funding Slater films done in the usual film industry where you have like a large investors and the producer will will makes it in a slice of fallible 60 from films the idea being that old size five or six different films 168. And even if the other ones died and you'll still be in profit, so instead of using blockchain to to micro invest in a single film, you could micro invest in a hole in the produces whole package of films another idea that might have them down. The line is we seen recently as a little if I want to go proof of concept shorts films like District 9 or the babadook or call Guy when Netflix is going to be so the directors and producers.

When's and made a short film as a proof-of-concept to demonstrate that they they are capable of making the feature film and then the feature film is based on the idea of that short film one thing you could potentially do down. The line is rather than going to the film gold to fund the prefix comes up short. You can potentially potentially use this crowdfunding investment to fund the short and in people who invest in the show would be entitled to a share of the profits from an eventual feature film if it gets made so that might be one way to sort of help their the show a filmmaker every like that idea of investing kind of energy producers Index Fund like a basket of their film so you don't have to say put all your eggs in one basket you can diversify all their different films that they're thinking of making or making and by the way nice shorts from Coke Studio for a second approval, sir are great idea if you have any songs of those regulations listening,

Why did movie mentioned in a little bit earlier that this is more of an abstract movie hard to get funding for it because of the concept, but why don't they if they're going to try to find a proof-of-concept for say a black team crowdfunding solution that they don't do it with a with a safe room movie something that's more, you know, it's easy to digest for the consumer and think that it's more of a, you know, a better product. I guess. I guess I'm a product that like a rom-com work, you know what the generic Syfy earlier but the basic idea is that but with these sorts of films with these sorts of exploitation films the things like in a machete, you know something they immediately got people's attention next episode of ideas often go viral on the internet. You know, it. There have been films have been made based on Reddit post in the cost if if these are the basic load line ideas.

The go viral the release of attention-grabbing ideas, like Heidi fights fascists in Switzerland with stuff like that have a fanbase who's interested in that sort of films that will give you the price at least initially all going to be that so the film that has an attention-grabbing idea or a really really great concept that just goes viral. I mean, like I feel that that that did that recently was host on on shudder that the streaming channel that basically made because the filmmaker play the prank on his friends place is staging a ghost attacking him on a zoom call and then based on that they were able to get the funding together to you next week in vegetables.

Using this Platform soundline One sort of concern has been raised about crowdfunding platforms. Generally is that they become slightly so gentrified mean in recent years. Sorry Kickstarter for instance started out as a platform where any small-scale creative could get it and then it so we got co-opted by large brand so you ended up with like bows and using it. So it's actually focus group to test products filmmakers. You already have an established reputation like Zach Braff, It was raised to the time which was basically, you know, why are these people who could raise funds through conventional means coming to these platforms and visit with the risk that which episode of blockchain micro investment platform what you might get is as well as soda.

High concept so it is the sort of people who'll be able to raise money will be people who already have established reputations Samuel Jackson or someone comes to the field Jane and says hi. I want to make a towing to make a feature film about allegations on the train or something. That's probably going to go a lot more traction. But if you know Bob Smith from From Doncaster decides that he wants to go to make a film about you know, zombies attacking his local pub or something. So there is a danger that like personalities and Brands Mike's would have co-opted this idea, but honestly, that's probably going to be a good problem to have because it means that it succeeded in gaining traction just add to that as I have the same graph about podcasting in my opinion, you know, it started out with like it's still a little bird and tree for the average person grab a computer grab a bike and go go for it and broadcast but you know your biggest podcast right now are you know, big Brands NPR there the New York Times there, you know.

Yu-Gi-Oh big companies or you know famous people that you know, Michelle Obama's new podcast. I hear about it everywhere. So this is just totally took all the air out of the independent creative space because you know, they're big companies grasping on to this new way to basically Market their brand or get their opinions out there or change the conversation. So I totally get what you're saying with that and I hope that it leaves a little bit of space and breathing room for the independent filmmaker or independent creative to raise funds to get that zombie movie of them going to smash up their local pub, but a Steven Graves managing editor of the crypt. Thank you very much for coming on and talk about this. Thanks very much.

Ending of the news DC Comics artist Jose delbo teamed up with crypto artist Trevor Jones to produce for a Nifty artworks. The release will feature popular DC Comics. Superhero Batman. Is it showing how far and how powerful the NFC token really is if you get DC Comics starting to put their art on the blockchain, however, I want to go back to our last conversation. Now you see an of Tito confused for crypto artist before and I are going to see big companies start to entity their things. I hope it doesn't suck all the air out of this great way for an independent creative to claim their art and buy sell and raise money for it.

Moving to Japan an unknown individual has threatened to place bombs in the school than churches of 18 Japanese prefectures until Bitcoin. Ransom is paid out. This person is demanding 40 Bitcoin valued at over $450,000 at current prices so far. No comments have ever taken place. However, the emails and the Rats keep coming.

And finally 7 government's request a tech companies to introduce government back doors to bypass end-to-end encryption the government claim. They allow terrorism in child abuse text comedies have for the most part resisted creating back doors. Let me know what you think about this. Should there be back doors in your software on your phone or your computer? So the government can come in and basically look at your dad at your earlier conversation, but your social look at what's on your laptop. Do you think that this will prevent terrorism in child abuse or do you think that this is going to be a breach of freedom freedom of speech and your privacy more than anything else. Let me know after you Aron at the crib. Co I mean email

Beaver listen to this episode of the decrypt daily again, as always. Please go to Apple podcast subscribe like and share and leave us a great comment. It helps to stay visible. I'll be back tomorrow with more news. Happy Holi.
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