The greatest empires in history have come and gone – the Romans, the Greeks, the Babylonians, the Mughals, the Persians, the Egyptians, the Ottomans and lastly the British. Just as history mocked the forces of peace, the cultural and economic institutions around us suffer the same fate.
Such empires that ruled their corners of the world, Hollywood dominated their empire – the film industry. Viewers enjoyed the fruits of this cultural empire, as well as the benefits created in other exclusive clubs. However, it is time to open Hollywood to this audience, as efforts are now being made to open up industries such as traditional economics to the general public. And the same tools that fight for economic liberalization use for cinema: decentralization and blockchain.
The film, as an art form, is designed to touch, inspire and excite people, evoke deep reflections on the socio-economic climate or provide comic relief. However, unlike other art forms, digging into your pockets to create high-quality films worthy of mass distribution requires a franchise largely reserved for investors and philanthropists. In a typical Hollywood environment, these investors and their production partners often work together in a limited exclusive club, which limits the flow of diversity (not race or gender, but artistically).
Thus, exclusivity leaves many creative people in the dark who are unable to efficiently produce, distribute and market their designs. This does not mean that every film deserves to be shown, but there are of course more creative ideas in the sea of cinematic ambitions. However, letting a select few identify scenarios that are creative is not the answer, as it limits the flow of creative ideas.
Consider whether the paintings were treated as films, and the private investor club had to choose which paintings were ordered. This is a difficult scenario for us to understand, but it is precisely what today’s paradigm largely entails. Movies can be more expensive, but this does not require anything unique to choose a worthy movie.
Changes in Hollywood: Have They Been Enough?
The movements have been trying to break high walls in Hollywood since the 1960s, with limited success. Indie films are known for their victories outside of Hollywood in Hollywood, inspired by movements such as the indie film movement and related festivals. But even these achievements were not enough to achieve a breakthrough.
Even from an accounting point of view, most movies are not profitable – according to lawyer Schuyler Moore, up to 80% profit. While film is technically an art form and not just produced for profit, studios have specific financial goals for each piece. So if movies fail so often, why are CEOs in Hollywood the bottleneck? Let the audience participate in the same way that the masses have opened their doors to mass participation elsewhere. This road is lined with decentralization at its core.
Over the last twenty years, we have witnessed decentralization in several sectors, especially in journalism and economics. As media conglomerates grew larger and stronger, the discussions between John Dewey and Walter Liebmann centered on the 1920s. It was a question of whether the press should be from below or up and down. Technological advances and the emergence of social media have made it possible for people to report the news themselves, thus bypassing the major media conglomerates as the only true source of news.
Now, thanks to these major advances in technology, miners in Pennsylvania, pug carvers in New York and teachers in Maryland can discuss current issues in digital public forums. They can share information and disseminate news as certified journalists.
Recently, the financial world has experienced a revolution of decentralization. Like the media landscape, thanks to the invention of blockchain technology just a decade ago, citizens are now able to invest in a platform that was out of reach of the forces that caused the economic downturn. Also known as decentralized financing, this alternative ecosystem of older institutions, also known as decentralized financing, has pumped in more than $ 24 billion in total value booked between June 2020 and January 2021, according to DeFi Pulse.
Decentralization of the film industry
In a decentralized world of film production, creators can upload their project concepts to the blockchain platform and market them by interacting with fans and investors.