DeFi will bring a new golden age for the film industry

[Dociko]

There are opportunities to be leveraged in bringing DeFi to the film industry, making the investing process easier and more transparent.

With an explosion of video streaming as a result of the COVID-19 pandemic and now around $40 billion locked into decentralized finance protocols, it’s time for decentralized finance and the film industry to meet.

Film financing is a cumbersome and inefficient system. Investors are the first to put their money in but last to see any return. There is no transparency into how funds are being used during production or how profits are allocated after distribution. Investment decisions are generally based on very little data about what people actually want to watch, so the chances of a film’s success are completely unknown until its release. DeFi and blockchain technology can address many of these problems by forming a new realm of decentralized film financing, or DeFiFi.

Source: Cointelegraph

[TomPluz]

Certainly, there is big money that can be made in the film industry and this is in fact magnified by the ongoing pandemic as more and more people are staying home, and they need something good to entertain them in their free time. The potential for a DeFi type of financing movies or a series can be good. Let's hope that a good developmental work can be done on this area. I am sure there can be a good number of investors who are willing to finance films but just making sure that the whole thing can be transparent and financially-sound.