A film financed by NFT, quiet, has won first prize at the Sundance film festival. The film, directed by Miguel Faus, tells the story of Ana and “explores themes of class differences and injustice from a deep and sophisticated perspective, moving away from clichés and easy caricatures.”
Calladita is a type of film from Film3 that uses decentralized technologies to liberate and empower independent artists. In this case, Faus and his team financed the film using NFT and to win the Andrews/Bernard award is a dream come true.
The award was established in April of last year by Steven Soderbergh, a renowned filmmaker, and Decentralized Pictures. To encourage independent film talent, he committed $300,000 in completion funds to notable English-language feature films and shorts, with the NFT-funded feature Calladita representing the first film to win the award.
Speaking to Decrypt, Faus notes that Film3 represents the future of independent cinema and is the reason the film exists. The award presented on Saturday left Faus beaming. He took to Twitter to express his joy, thanking the Decentralized Pictures Foundation, his entire team, and the more than 500 people who believed in his idea and bought the NFTs.
Legend Steven Soderbergh just gave us a completion funding award for our film CALLADITA at Sundance.
HUGE thanks to @DCP_Foundationour entire cast and crew, and the 500+ degens who made this film possible. pic.twitter.com/Br8DFmlAzc
— miguel faus.eth 🎥 CALLADITA FILM (@miguelfaus) January 21, 2023
Decentralized Pictures is a nonprofit organization that seeks to discover new and innovative filmmaking talent. The platform allows filmmakers to submit film submissions by paying a submission fee in FILMCredits (FILM), their native token. Platform users can then vote on which ideas receive grant funding.
According to Leo Matchett, co-founder of Decentralized Pictures, blockchain technology not only allows the platform “determining in a fair and transparent way who is most deserving of funding, but also has this mechanism of incentivized behavior built into it.”
What does the future hold for Film3 after the NFT-funded film Calladita won the top prize?
That being said, financing movies using NFTs represents a new frontier for cinema. Until now, the likes of Spike Lee and Kevin Smith have used them to finance movies and drive engagement. At a time when most people view NFTs as nothing more than speculative assets, perhaps this is the type of use case needed to drive mass adoption. Now it’s possible for fans to finance the next blockbuster and own a piece of its success.
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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.
Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the world. His work has been published on major websites such as NFT Plazas, usethebitcoin.com, the European Blockchain Convention, and many others. When he’s not thinking about disruptive technologies, Basil is busy exploring the great outdoors.
