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MetaCannes here. But why Film3?

On Tuesday, Theta Network and The Squad announced MetaCannes, a Web3 film festival. But why do we need one? Does he hope to compete with the world’s most famous annual film festival?

The traditional film industry is known for its exuberant celebrations and festivals. Now Web3 has its own version, MetaCannes. The film festival that will take place at the same time as the Cannes Film Festival, from May 16 to May 29, 2023. The project is a collaboration between Theta Network blockchain and Web3 studio, The Squad.

The idea behind MetaCannes

Why Web3 Film Festival? Well, the event is part of the fledgling and growing Film3 movement.

The Film3 movement is a relatively new concept that unites Web3 principles with the film industry. It aims to build a decentralized, community-led film industry that is more transparent, fair, and accessible.

How this is done is often somewhat complicated. But the concept at its core is to take advantage of the advantages of blockchain for a more democratic industry. Including enabling more directly funded films without the old studio guards.

A fairer film industry?

One of the tenets of the Film3 movement is to put creators first, according to Stephen Murray, founder and co-CEO of BINGEABLE.

“Traditionally, the entertainment industry has valued ability to market and distribution over ability to create,” Murray said in a discussion with BeInCrypto. In contrast, Film3 values ​​creators and the communities they build more than the tubes that present their art.

“Movie 3 is about empowering creators and dismantling the long-standing power imbalances that have limited the potential of independent filmmakers for far too long,” Andrea Perry, head of business development at Theta Labs, told BeInCrypto.

“By integrating Web3 technology and NFTs into the filmmaking process, we can enable a more direct connection between creators and their audiences, allowing for more sustainable revenue streams and greater creative control.”

The festival will also feature senior leaders in the media and entertainment industry for Film3, including Academy Award winners Phil McKenzie and Nick Sadler, and distinguished actors and directors. The latter includes Jonathan Keltz, Miguel Voss, and Julie Pacino, who presented the first feature film funded entirely by NFTs.

Participants will have access to 25 hours of Q&A, panels, films and short films belonging to the Film3 movement.

Disclaimer

Adhering to the Trust Project’s guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently check the facts and consult with a professional before making any decisions based on this content.

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