DAOs in the Film Industry Part 1 – Will Keanu Reeves ever play Vitalik Buterin?

Are DAOs the better companies or … will Keanu Reeves ever play Vitalik Buterin?

The rapid growth of the NFT market has opened up new opportunities for artists and creatives. Every day we understand more about where the industry is going with art, metaverse, avatars, etc. But what about film production? This is where DAOs for Movies comes in – a community of passionate filmmakers, creatives, investors and Web3 builders. Let’s take a look at a film production.

First of all: What is a DAO?

A DAO (Decentralized Autonomous Organization) is an organization designed to be automated and decentralized, without a typical management structure or board of directors, where society handles decision-making through voting. Called “the next big trend” in the crypto / blockchain / web-3 ecosystem, there are currently more than 1,000 DAOs, and this number is expected to grow to 100,000 by 2023.

So much in advance. Above all, everyone should remember, DAOs should be decentralized. Our examples show that this is only partially the case. We also want to show that DAOs for many film projects do not necessarily provide the best conditions for realizing a film project appropriately. All of this should also help answer the question: Are DAOs the better companies? And what could the future of DAOs actually look like?

But first and foremost: How does a film production like this really work?

development

The current system of large-scale studies is largely based on hierarchy. A few top executives receive daily concepts for a film, weigh the pros and cons of the story’s marketability, implementation and target audience and then order a development contract or not.

But the larger the study, the longer the list of considerations. Will this movie idea make money? Is there an audience for an action movie where an NFT materializes, commits a murder and is seen by Vitalik Buterin. Shortly after, the angry materialized CryptoPunk Vitalik Buterin chases through the streets of Berlin at John Wick Art. Would the budget be too high? And would Keanu Reeves want to play Vitalik? Would Vitalik want Keanu to play him? These are important questions, and if they are answered correctly, someone will get an order to write the manuscript.

Source: Serbia as Center for Film Industry: We Are Not a Country of Stickiness and Kitsch – Diplomacy & Commerce (diplomacyandcommerce.rs)

So much for the centralized version. But what would a decentralized approach look like?

Then, in addition to the bosses and the development manager, cameramen, observers and makeup artists would also contribute their ideas to a story. Or we move on: What if we also included people outside the industry? NFT artists, kiosk owners and babysitters all present concepts that could be “a really cool idea for a movie”. Would it be chaos, or would some incredible stories emerge that a large group of people would vote on and then act out? It would finally be an approach where the viewer says his opinion. I bet 2 ETH that my Kenau-spielt-Vitalik idea has a better chance of being filmed here than in the classic system. But is that right?

The script

After the idea has been presented and everyone is excited about the next “John Wick-Buterin”, the script should be written. As an executive, you are now looking for the right author who has already proven himself in the given genre (action) and who you trust to write a successful script.

Now, in the decentralized world, one could submit a batch of the same professional writers to the DAO for consideration, or one could openly bid on everyone to discover unknown writers. And while it may sound tempting, screenwriting is a job. Successful writers are not successful because of a particularly original idea, but because they know how to prepare that idea for a film adaptation. However, you will only become a good writer if you get the chance to write. A small dilemma for the film industry.

At this point, the need for guidelines should be considered:

Perhaps the DAO stipulates that the people involved in the actual production of the film must have a certain level of experience to be eligible for the job. In other words: successful writers with a certain number of credits. That, of course, would exclude newcomers again. But it would also be interesting to offer mentorship to those writers who have a good idea but little or no experience. So you form a group of professionals and beginners who together learn and deepen the craft. Of course, one must also think about remuneration, for believe it or not – even writers have to eat something every now and then.

All authors prepare an initial concept, and the DAO then decides which of the authors is allowed to write the manuscript in the end. A first draft is created. So – this is where something comes into play that is crucial to the development of a script: the rewriting. Revision of the script based on annotations. But who comes up with these comments? Should everyone in DAO be activated to comment? Should the author decide which of these annotations to implement later? Has the one with the most voting rights in DAO been deprived of their “power” if the author decides not to implement their own comments. Or should they be implemented, even though they are really complete nonsense?

As you can see, decentralization in film production can also make the whole thing more strenuous.

DAO votes to scrap Vitalik and Mila Kunis’ love story and instead get him to find a way to turn into a Bored Monkey and there, along with Snoop and Justin Bieber (both BAYC owners) trigger a monkey apocalypse to kill his dog to take revenge. Gold. Box office hit.

Source: DAOs: Let’s take control of our lives back! – BeInCrypto

production

The manuscript is complete and pre-production is in full swing. But for each step, it gets a little harder for film production: the probability that all members are close to each other is relatively low. DAOs tend to attract people from all over the world. And each country has different ideas and requirements for film production. So where is the film being produced now? In what language? Or will it be a pure virtual movie? Animation? And where is the crew from? Members of the DAOs? Thrown together from all countries? Who pays for travel and accommodation?

And the key positions? Cameraman? Manager? So an instructor had to present his vision for the script and how it would come to life. This can be a possible problem. What if an instructor suggests something and then changes course during filming? Who regulates this? And honestly, I would like to see a Quentin Tarantino or Ridley Scott apply to a DAO to make the film.

post production

Somehow we managed to make the film. And now the real fun begins. How is it cut? Which VFX is worth doing. Who makes this VFX? Who’s the cutter? And what about the music? If a DAO decides, for example, it would be a good idea if Vitalik and Melissa McCarthy (the director wanted them there because a movie without a love scene just does not sell. And make it as funny as possible. So Melissa McCarthy) will have the famous lifting scene out Imitate Dirty Dancing and you really want to hear “Time of my life”.

But it now costs licenses, as much as half of the film. And then you unfortunately do not have the money to get Hans Zimmer to put music in the rest. And we do not have animated APEs either, because ApeCoin has really gone through the roof in the last few weeks and you can only cast BAYC with it on Yuga-Labs.

But still – we managed it. And the movie is done.

After a grand premiere with 100,000 spectators (which everyone no longer wants to pay for), in which all the stars of the stage and every DAO member attended and made Woodstock look like a KITA festival, the film must finally be marketed. But where? By the streamer? How much do they pay? Or better in the cinema when Avatar 2 flops anyway? Well – the cinema decides DAO. Unfortunately, you have to raise some capital in advance, because either you have to find a film distributor or start one. More NFTs will be issued for this, but what …

profit sharing

… Decrease. Since each NFT in Smart Contract is intended to be a participation. Why else would you buy NFT? To partake of the claim, DAO must decide how the profits from this potential megahit film will be distributed. Traditionally, these funds would tend to “seep down” to everyone involved in production, with the top ones getting the bulk of the cake.

In a film DAO, profits could be distributed through a central treasury and the money divided according to contributions. These were previously included in a smart contract when the NFTs were awarded. You worked on the script – you get x%. They have contacts with Yuga Labs and got Snoop straight – x% for you. All of this had to be written in advance (which is equivalent to contracts in today’s film industry). But – who decides how much X% an activity is worth? In studio production, there is a catalog built on experience and on tariffs. A DAO whose members come from several countries is likely to be subject to more tariffs?

Source: John Wick – CRYPTOPOP!

But before that, there had to be a marketing budget to make the film known beyond the film3 scene. And it also costs money. lots of money.

You can expect larger movies to have advertising budgets the size of their budgets. But hey – Vitalik must know a few people who can help. The most important thing is that we recorded our film. Or not?

Here we have only pointed out a few small problems that must be overcome if one wants to make a film production really decentralized. As an Executive Producer of several series, I have often experienced that it is important when someone is responsible for pursuing a vision. At best, this person can inspire his co-defenders with this vision to such an extent that they all move in the same direction. I do not think Breaking Bad would have been possible without a Vince Gilligan. Do not get me wrong: I dream of movies3.

And I am convinced that gatekeepers need to be eliminated in the current film system. I would like to report here on the current state of the film funds. There must be a democratization of film production, and above all, the profits must be distributed much more fairly. But I’m not sure if DAOs are the way to go in their current form. Whether DAOs are at all capable of replacing companies.

Nevertheless, in the next part I would like to talk about various film DAOs that have taken on this project. We will also look at some forms of governance and possible ideas to make DAOs even more decentralized.

Until then, let’s all hope Keanu Reeves is willing to play Vitalik, Cosmo de Medic (NO – it’s not Snoop Dogs alias) agrees to send some of his BAYC to casting, and Vitalik himself some ETH or his sponsors the rest of SHIBA for the development of this mega idea.

Disclaimer

All information contained on our website has been examined to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information on our website is entirely at your own risk.

Leave a Comment