As the leading lights of the film world descended on the Cote d’Azur for the Festival de Cannes, one of their number is looking to change the face of the industry.

In Cannes for the premiere of Wes Anderson’s “Asteroid City,” Roman Coppola, the film’s story co-creator—and acclaimed director and producer in his own right—was also celebrating the first anniversary of his Web3 film fund, Decentralized Pictures.

Speaking to Decrypt, Coppola explained that he and partners Leo Matchett and Mike Musante created Decentralized Pictures to break the stranglehold of centralized gatekeepers over the film industry.

“There are a few studios and very powerful agents who control the business,” he said. “We wish to bring filmmaking tools, contacts, and support to people who need their voices to be heard.”

A film funding DAO

Decentralized Pictures uses a combination of blockchain technology and a decentralized governance structure to effectively create a film funding DAO.

Built on a fork of the Tezos blockchain dubbed T4L3NT Net, the platform runs on its own native token, FILMCredits. Aspiring directors can buy FILMCredits to submit their work for funding opportunities, or earn them by reviewing others’ projects.

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Author: Mattis Meichler

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