The media and entertainment industry generates billions of dollars in annual revenue as artists and creators release more content for consumers via multiple streaming platforms.
Sadly, the filmmaking industry is plagued with rent-seeking middlemen, unequal profit distribution, shifting consumption habits, and several other inefficiencies pushing consumers out of the equation in filmmaking processes.
Imagine a decentralized filmmaking ecosystem that allows producers to take big risks to create films that can shock, challenge, and inspire viewers. Imagine an ecosystem where consumers can make input on the film slate. All these and more are what FLIX is bringing to the entertainment industry.
Source: FLIX
The project intends to create an independent, decentralized filmmaking ecosystem that shifts power back into the hands of the people.
What is FLIX?
FLIX is a decentralized film finance token founded by two veteran Hollywood filmmakers, Ben Rosenblatt and Micho Rutare, to revolutionize the filmmaking industry.
American Meme, the company behind the project, aims to create an independent, self-sustaining filmmaking ecosystem using new crypto, blockchain, and Web3 technologies.
FLIX is trying to reinvent how independent films are financed, produced, and distributed.
Source: FLIX
How Does it Work?
FLIX plans to leverage its native token, FLIX, to accomplish its goal of revolutionizing film financing. The project will use the cryptocurrency’s buy and sell tax to raise capital for several films that appeal to film and crypto enthusiasts.
Its vision is to create a growing, robust community of crypto and film lovers who can invest in the filmmaking process both financially and creatively. Thus, the platform encourages members to share creative suggestions on film production.
The project will invest in novel ideas and use blockchain transactions to fund movie projects through its native token: film producers and token holders join a private Discord to give feedback on specific creative decisions that are determined by the producers; a percentage of every transaction on the platform with the token goes directly into the film wallet. The FLIX team will be using 75% of the funds in the film wallet for production and the remaining 25% for marketing and publicity.
FLIX is the native cryptocurrency of the ecosystem. It is an ERC-20 standard token that powers all activity performed on the platform. The token has a supply cap of 1 billion units.
The digital asset gives holders access to exclusive community events with members that accept FLIX. Holders will also receive exclusive access to cast and crew chats, behind-the-scenes invites, premiers, and parties, and provide input on the film slate. FLIX holders have the power to vote on decisions that can affect the platform’s future, including what film projects to support.
The cryptocurrency is designed to be deflationary, with several measures in place to ensure that its relative value continues to increase in the future. To achieve this deflationary feature, the project developers will use profits from film sales, distribution, and licensing to buy back FLIX and “burn” the tokens.
FLIX’s vision for its native token is for the cryptocurrency to become the predominant medium of exchange for filmed entertainment transactions, both in the traditional film industry and the metaverse.
The token is live and available on the decentralized exchange, Uniswap. The team plans to utilize the initial funds to build a production slate and list the cryptocurrency on several large exchanges.
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