Can you release a movie by selling NFTs?
Recently, Structure Films was the first to go to market releasing a documentary film through the purchase of NFTs. How did they do it? The filmmakers are using the power of cryptocurrency/NFTs to leverage a crowdfunding model to distribute content directly to consumers.
The documentary in question is called We Are As Gods. It's about a countercultural prankster, environmentalist, and technologist named Stewart Brand. It originally premiered at SXSW 2021. The film chronicles Stewart’s extraordinary biography and his present-day mission to resurrect extinct species.
That sounds like a movie a lot of other people would like to see. And the filmmakers were banking on that. They knew to get this film out there, it would cost a lot of money.
The plan is to release We Are As Gods using crypto through NFTs minted on NFT publishing platform Mirror. Directing duo David Alvarado and Jason Sussberg had the idea to allow users to stream the film via the NFT, but also unlock analog artifacts and physical experiences alongside these digital rarities.
"If working alongside Stewart the past several years has taught us anything, it’s the importance of innovative thinking at every turn; especially during the pandemic. We at Structure Films are super excited and uniquely positioned to explore new distribution models through blockchain technology that we feel will be a welcome shift in the future of storytelling,” Sussberg and Alvarado said in a joint statement.
“The NFT launch campaign for We Are As Gods reminds me of the original Whole Earth Catalog, which was self-published and a new kind of thing that found a grass-roots way of getting distributed,” said Brand.
This one-of-a-kind experience makes buying into their documentary an engaging experience. It's not just begging on Kickstarter, it's owning a piece of art. It's being at the forefront of a new currency.
Their goal is to raise $3 million, so this also helps with the release budget. That's a huge number to try and finance, but the sale of NFTs can really offset it, especially with people who want to participate in something that feels cutting-edge.
We'll keep you updated if it works.