The new platform leverages third-generation blockchain technology to empower creators and fans throughout the film production process, from project proposal to greenlighting for launch.
Filmio, the blockchain-based solution for empowering film, television, and VR creators, has launched a platform to democratise the entertainment industry and include fans in the project greenlighting process. Filmio’s platform aims to incubate, validate, and enable new projects to launch, opening film creation to the masses, who are marginalised by a closed-off entertainment industry.
The TV and film industry is usually very exclusive, only allowing a select few to participate. The prominent studios have largely regressed to becoming marketing machines and corporate investors who make the critical decisions on what scripts and concepts receive approval for production and which do not.
Because of its exclusive nature, Hollywood misses creative storylines with great potential for success from aspiring creators, whose ideas are sidelined to make way for big names.
Harnessing the power of EOS’s blockchain software, Filmio provides a space for both fans and creators to work together throughout the project creation and validation processes. AI and machine learning algorithms process data from a fan, creator, and investor behaviour and feedback on projects before a project is greenlit. The entire process manifests in three phases.
The first phase is incubation which provides creators with a platform to post, market, and promote their film projects. The second phase validation helps creators receive ratings and evaluations, subscriptions, donations, and other behavioural markers from fans. The third phase distribution connects fan-validated creators to investors, networks, and studios, reducing the risk of a financially-failed production and enabling fan-preferred content.
Filmio’s platform incentivises the participation of fans through “FAN” tokens that are given to fans for participation, but only have utility on the Filmio platform. Accredited investors have the option of investing in the platform via security tokens, called “FILM” tokens, which offer passive income as dividends from the platform’s revenue.
Commenting on the AI platform, Filmio President Ian Lewinter said: “We are delighted to announce the launch of the Filmio platform, which will break down the longstanding barriers of the entertainment industry. Through the power of a decentralized ledger, we believe in the democratisation of film and the cultivation of an empowering, symbiotic relationship between creators, fans, and investors.”