Taiwanese film producer Jack Hsu is developing a blockchain based token project called SELF. He is looking to redesign how movies get funded. The aim is to “create an ecosystem that could truly bolster and promote the Taiwanese film industry.”
Taiwanese movies always experience a steady battle to get finance. Understanding the issue of “how troublesome that is” the project can help in changing the nation’s film industry.
Basically, SELF will increase funding success and build an audience around a film project, even before the shooting of a film starts, by creating what its marketers call an immersive entertainment digital asset that integrates virtuality and reality.
Hsu additionally explained that the fans will now be able to support the film they like. Movie fans will now have access to production’s movie scripts, movie budget, and other information.
SELF-tokens will be provided to movie fans and they’ll be awarded for spending them. Moviegoers will also get a chance to effectively trade movie tickets. They can even purchase food and beverages from partnered bars and restaurants.
In order to put the SELF-project under serious scrutiny, Hsu specified that they are planning to shoot a movie in October through the project’s Blockchain platform. The movie is titled “The last thieves” and is releasing in the first quarter of 2019. The cost for the SELF-token is going to hit the NT$ 2.5 with every client having the capacity to purchase up to 100 tokens, as reported by Bitrazzi.
Something Beyond Film
The project wants to introduce immersive amusement to Taiwan by coordinating gaming with the film. Be even as Hsu and the SELF-group intend to take their audience through an emotional ride utilizing Blockchain technology, the government of Taiwan and its controllers are yet to set up their official position on ICOs and digital currency.
According to a PR Newswire report on September 17, efforts to revolutionize the film and entertainment industry are unstoppable. MovieCoin, a next-generation financial technology company is also swinging towards blockchain technology projects and digital assets for funding movies, television and other media. Its public presale is effective from September 17 and will end on October 30 at 00:00 PST.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]