• Apr 14, 2020
  • By Filmio Team

Blockchain Creates Equal Opportunity

Hollywood has come a long way since its early days when it was reinforcing a one-dimensional worldview that cast a restrictive, exclusionary net. The most notable progress has been made in the last few years since the Annenberg Inclusion Initiative shone a spotlight on representational shortcomings throughout the entertainment industry.

While it’s heartening to see more diversity on the big screen, back-office operations have largely remained unchanged. The top executive positions in Hollywood are still mostly held by white men, as are director and writer credits. According to a study cited on Deadline, even when people of color do get their feet in the door as writers, they are often isolated and their contributions are minimized.

A full 40 percent of the US population identifies as a non-caucasian race or ethnicity, yet Hollywood has still not offered proper representation. Studios may have changed the face of the films fans see, but the storytellers remain the same. Everyone misses out when the spectrum of cultural experiences are all expressed with a homogenous voice, so the push for equal access for all creators continues.

The Power of Blockchain

Blockchain facilitates peer-to-peer interaction that ignores geography, race, ethnicity and social status. As long as creators have an internet connection, who they know, where they are located and the color of their skin are inconsequential.

Because most blockchains are public, anyone can participate. If a filmmaker in Bhutan creates content that an investor from Hollywood adores, he or she does not have to go through any middlemen or gain approval for the expenditures necessary to fund the production. Instead, blockchain supports transactions that are secure and transparent so that the agreements can occur directly between interested parties. Contracts are immutable — eliminating concern over document tampering — thus no one can alter the amounts or disbursement flow of the capital because financing models are directed by smart contracts.

How Filmio Levels the Playing field

The Filmio Decentralized Platform (FDP) uses blockchain to give fans, creators and investors of all backgrounds a voice in the entertainment industry. Opportunities for success on the FDP are based solely on the quality of the idea as determined by fans. New stories that celebrate diversity of all kinds finally have a place to shine; fans can find content that speaks to them and investors have the metrics they need to make confident decisions about new frontiers in entertainment.

Our gamified platform encourages fans to actively participate in providing feedback to what creators have shared by token reward algorithms. Those tokens can be spent on exclusive streaming content, early access tickets for a fan’s favorite projects or to support creators as they near strategic completion stages. Essentially, the more engagement a project receives, the higher its validation score (Go Score) climbs until it achieves enough milestones to be entered in the Greenlight Competition. This is where a project gets matched with investors who can use meaningful, on-chain data to support their decision to provide funding in the final stages of production. 

On Filmio, there are no Hollywood gatekeepers preventing independents from getting their content in front of investors and no more middlemen directing a huge chunk of money away from the essentials of a project before it ever sees a dime. The FDP will lead the film industry to realize its full potential by allowing access to everyone who wants to participate in the creative process. 

An Onramp for Everyone

Exclusivity and lack of diversity within the entertainment industry perpetuate the same stories being told over and over again, with paltry representation for nearly half the population of the United States. Ethnic and racial minorities feel unheard and ignored, and the public misses out on participating in the greater cultural conversations that will shape our future.

Filmio changes all that by opening up opportunities for anyone to succeed in the entertainment industry no matter who or where in the world they are. Creators do not need to worry about their content being whitewashed, fans of color can finally see themselves in popular narratives and investors can be confident their money is secure and well spent. With Filmio leveling the playing field, everyone gets a fair chance to compete.

Creators, film-lovers and investors can get in on the action by joining our Telegram Group and liking our Facebook page for all the latest updates. And don’t forget to be one of the first to join Filmio by signing up for early access!