Do Cryptocurrencies Prove Helpful In Financing Films?

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By following all crypto news, you certainly get to know all about the recent happenings that are prevalent in the cryptocurrency world. The concept of cryptocurrency has touched millions of hearts and likings around the world. Today, many businesses and industries are acknowledging the use of cryptocurrency and blockchain. There are some popular names in the online platform, like Shopify, Travala, Expedia, CheapAir, and many others, which have accepted Bitcoin as a payment mode. Now, it hardly matters if any regulatory authority does not approve it for its acceptance. The wave of cryptocurrency has widespread already, and there are no signs for it to get diminished. Today, we are bringing you a different angle on how cryptocurrencies could prove helpful in financing films. So better read on to know it.

We all love films as they entertain us and keep us overjoyed with a different genre, be it comedy, romantic, horror, thriller, suspense, or even a documentary on a certain issue. But does it ever come to your mind about how much hard work is levied on watching a 3-hour movie at our nearby cinema halls? Well, most of us do not think so. But if you want to know it, then better ask a filmmaker, who will brief you about holding the money for films is a very cumbersome task they have to face. 

However, over these years, newer technologies have also paved in finding the new form of investment sources for filmmakers. These were crowdfunding sites like Indiegogo and Kickstarter, since 2015, which brings new hope for independent filmmakers in helping them with financing films. Although these sites do demand a fee in offering to gain backers, filmmakers would benefit from a maximum share of the money. 

Emergence Of Cryptocurrency Trend

We all know the reason behind the emergence of cryptocurrency in the whole world. Yes, it is Bitcoin. This crypto coin is the most valuable and best-known name in the crypto world. The kind of fame cryptocurrency has got is all due to the factor of value behind it. After the success of Bitcoin, came a fleet of other alternative currencies, which are also known as ‘altcoins’. Like Bitcoin, there are many potential altcoins like Ethereum, Litecoin, Monero, Dash, and others. Ether and Bitcoin operate fully as cryptocurrencies. The best part which sets these cryptocurrencies from traditional currencies is their advantage of sending payment to other people, with no interference from banks or government. So in that way, they can prove so much useful for filmmakers in financing films. 

How Cryptocurrency Is Used For Financing Films

As we have mentioned above on how the emergence of cryptocurrency came as a milestone in the modern era of technology. Also, how it has made a special place among various sectors including businesses and industries. But now it proved to be helpful for many filmmakers in financing films. But how does it become possible? Well, let us date back to July when many filmmakers raised a film budget through the crowdfunding method, the first time. It was handled fully through Ethereum contracts and enabled investors to offer finance. It came to be known as Ethereum Crowdsale. It opened new opportunities for filmmakers to get their films financed in a new way. Many are still not familiar with the concept of blockchain technology. Little do they know that emergence of funding came from the tech community. 

Conclusion

If you are abreast of breaking crypto news, then you come to know all about cryptocurrency latest happenings. Today, it has been decades ever since Bitcoin came into being on 3rd January 2009. This valuable and well-known crypto coin has gained so much popularity over the globe and is became an underlying reason for the growth of cryptocurrency. The use of blockchain technology now is being preferred in various industries. And now it came as big help for many filmmakers for financing films. This became a newer method after crowdfunding sites like Kickstarter and Indiegogo. This is something that can be called as technology advancement. Both important Cs (Cinema and Cryptocurrency) are now interlinked with each other.

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