What Is a DAO?
DAO stands for decentralized autonomous organization, which is a fancy term for a group of people who agree to abide by certain rules for a common purpose. Those rules are written into the code of the organization via smart contracts—algorithms that run when certain measures are fulfilled.
DAOs use smart contracts, which are essentially bits of code that execute automatically when a set of criteria is met.
Why Are DAOs Important for Filmmakers?
Many creators have limited or no access to fans, fan data, or the funding necessary to make their projects successful and lack the opportunity to create their project on their terms with full creative freedom. Fans are little more than spectators in the movie-making process, only called upon when it’s time to pay for and view content. Investors (including streaming networks and studios) are provided with little or no meaningful data about the probability of a film’s success before putting capital at risk.
The Film.io DAO was created as a solution to solve these archaic filmmaking industry problems. Film.io liberates creators by allowing them to submit projects, build an audience, and receive market validation opening access to funding and licensing opportunities; it empowers fans to claim and stake Film.io’s native FAN Token to projects they support, earning more governance power increasing the project’s Go Score and enables film investors to scout market validated projects with pre-developed audiences.
How Is Film.io Giving the Power of Hollywood Governance to Fans and Creators?
Film.io has launched the Film.io DAO, an entity with no central leadership, replacing the exclusive film industry hierarchy with the inclusive decision-making fans and creator community.
The Film.io DAO brings inclusion, diversity, equity, and equality to the entertainment industry and is redefining how movies and television series get made in an open global entertainment marketplace. The Film.io DAO is available to anyone, anywhere, with a computer and internet access, and recognizes a tremendous potential to unite us all. Films and television should not come from only one major geographical location but from any place where we can all share in our humanity through storytelling. All of the world’s creative voices should be heard.
On the Film.io platform, every movie and television project is a DAO proposal where fans show their support by staking FAN governance tokens to a project, sharing the project across the social media world, rating and reviewing projects, and interacting with projects in numerous other ways.
Projects must pass through Film.io’s proprietary DAO consensus mechanism called “Proof of Adoption”. The Proof of Adoption protocol measures a project’s support and adoption rate from DAO members through FAN Token stakes and must hit a certain threshold in order for the project proposal to be adopted and gain access to the Go Score™, which is an incentivized journey through the various stages of production, development and ultimately distribution.
Decisions get made from the bottom up, organized around specific rules enforced on the blockchain. The Film.io DAO will be collectively owned and managed by our members, and decisions are made via project proposals the group votes on during a specified period.
This is how it works:
- Project Onboarding – The project life cycle begins when a creator or rights holder completes the project’s profile on the platform. As a project is onboarded, the creator is prompted to upload assets to the project dashboard.
- Audience Building and Fan Validation – Once the project is live on the platform, it will be available for fans to stake their FAN Governance Tokens. The goal for projects is to gain support from fans and to increase the popularity of their project within the ecosystem.
- Algorithmically-Generated Go Score – The first-of-its-kind metric in entertainment and film finance that drives the Film.io project path. The Go Score represents aggregate totals from fan involvements with token stakes, project reviews, project shares, and a host of other in-platform gamified engagements engineered to predict a project’s success better long before production costs are incurred.
- CeFi, DeFi, and NFT Funding Opportunities – When a project receives enough social and community activity, the funding stage is unlocked, and, provided the platform has released these features already, the creator gains access to our suite of funding tools, such as NFTs (minting contracts and generative art design tools), CeFi (reward and equity crowdfunding campaigns), and DeFi (crowd loans and the chance to earn seed funding from the Global Creativity Pool based on the Go Score).
- AI Matchmaking Engine for Licensing and Distribution – When a project reaches the Distribution stage, the Film.io AI Matchmaking Engine will help you with production, licensing, and distribution.
At Film.io, we value people’s participation and voice more than how big their bank account is, and we won’t let this be about whoever has the biggest wallet having the largest control. This is why people who participate earn more FAN Tokens and governance power. The more you participate in the Film.io DAO, the more you earn, and the more you have the creative freedom and resources to greenlight your project as a filmmaker and opportunities to engage with your favorite filmmakers and support the projects you want to see get made as a fan.