Tuesday, May 24, 2022
HomeAnnouncesFilm.io Announces the First Hollywood DAO Putting Films in Fans' Hands

Film.io Announces the First Hollywood DAO Putting Films in Fans’ Hands

Today Film.io announced it would launch a Decentralized Autonomous Organisation (DAO). This project claims to be the first filmmaking DAO and aims to bring Hollywood onto the blockchain. The DAO seeks to harness the power of Hollywood to make feature films and place it in the hands creators and fans.

still from film.io intro video
Film.io is a new filmmaking platform that hopes to harness the power of DAOs in order to transform the film industry.

Film.io looks to flip the script on Hollywood through its DAO

The Film.io team has a wealth of experience in the crypto, entertainment, and tech industries. They are using that experience to create this DAO.

To sum up, its mission is to use the blockchain to remove Hollywood’s notorious barriers to entry for creators. They also hope this model will make the film industry more transparent, fair, and equitable. To that end, Film.io is dedicated to creating an inclusive DAO, open to fans, filmmakers, and investors from across the world.

Given that it will take a bit of time to fully form the DAO, there will be a body governing Film.io at the beginning. The Global Creativity Foundation, an independent charitable organization, is this body. Film.io DAO will assume more governance responsibilities as it continues to run Film.io.

What’s more, Film.io will be free to creators, giving them a platform to build an audience, as well as fund their films. Film.io will also provide filmmakers with access to an AI-driven engine. They will be able connect with studios, film funds, and networks.

a man holding up two tokens representing the two film.io tokens
Film.io will employ two kinds of tokens to help manage the DAO. Credit: film.io

How FAN and FILM tokens work

Another key point about Film.io is its dual token system. FAN tokens are governance tokens people use to sign up and participate in the DAO. FAN tokens are a key component of how the Global Creativity Foundation grants funds to filmmakers.

As Bryan Hertz, Co-creator of Film.io tells NFTevening,

“The DAO will have 100% influence over the funds that are deployed by the Foundation as grants to filmmakers. The Foundation will issue grants based on the highest Go Score, which is driven almost entirely by DAO votes (via stakes of FAN Tokens).”

Secondly are the FILM tokens which the platform will soon launch. People will use FILM tokens to fund projects. For example, DAO members can use FILM tokens for crowdfunding, DeFi loans, NFT campaigns, and other funding options from Film.io.

All in all, Film.io is a great example of the promise of Web3 to be an equalizer across industries.

“Just as Bitcoin democratized money, we’re at the forefront of a massive shift in the governance of the entertainment industry away from centralized power and decision-making,” says Hertz.

Creators and fans can sign up for a reservation now to enter the platform Anyone interested in reserving a spot to enter the Film.io platform can sign up here. This enables people to add their own projects, access exclusive NFTs, and take part in giveaways. Not to mention that they can get 100 FAN tokens for free. They can also get FAN tokens for free, so they can support their favorite content immediately.

Are you tired of missing important NFT drops?

Just check out our NFT Calendar!

Receive the biggest NFT news of the day & recommendations in our Daily newsletter.

All investment/financial opinions expressed by NFTevening.com are not recommendations.

This article is educational material.

As always, make your own research prior to making any kind of investment.

Read More

Henry Hicks
Henry Hickshttps://nonfungibletalk.com
NFT and Crypto Enthusiast. Loves Travelling and Exploring the Metaverse!


Please enter your comment!
Please enter your name here

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

Most Popular