Hollywood Dips Its Toe Into Crypto

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These days, the entire world is buzzing about cryptocurrency and the feasibility of blockchain technology when it comes to financing just about everything. Perhaps it should come as no surprise, then, that many are discussing ways in which crypto could fund films as well. After all, Hollywood has traditionally been a place where people have been welcoming in regards to new technology. In fact, the movie town has been a haven for innovators. Now, many are hoping that the blockchain party is more of a bombastic buzz than a bust.

Last year, mogul Mark Cuban and actor/investor Ashton Kutcher invested some funds into UnikoinGold. Actor Jamie Foxx got on the bandwagon with a coin called Cobinhood, which ironically ended up getting into some hot water over favoring VIP investors. A coin literally named Moviecoin has been promoted by producer Christopher Woodrow, and another producer named J.D. Seraphine is planning on raising funds for a film by selling off an ICO (Initial Coin Offering) called Bushnell Token. Although these early adopters make it seem as though everyone has cut in on the crypto craze, this is far from the reality. In fact, many are still exploring ways to make opportunities out of the crypto craze.

At the Digital Hollywood event in a few weeks, Hollywood insiders will be discussing how to take their projects to the next level through blockchain technology. Some of the guests slated to arrive are Rebecca Lerner and Seth Shapiro. Lerner is the executive vice president of MAD Network, while Shapiro serves as the head of strategy for VideoCoin.io. Another panel speaker will be Mike Pelletier, who is a blockchain advisor. As the former marketing director for Call of Duty, he knows a lot about how to use the power of marketing to harness something’s inherent entertainment value. In a world where people have soured on the stock market, perhaps it shouldn’t be so much of a shock that many are seeking out alternative ways to line their pockets while creating excellent entertainment value. With all of these influences swirling about Hollywood, it seems very likely that blockchain is going to start having an impact very soon. Lerner’s entire business model is built on blockchain, so there are many people who are betting their entire livelihoods on this inspiring platform. Also, the fact that there are less barriers to blockchain makes it a great fit for Hollywood.

Read: https://www.hollywoodreporter.com/news/crypto-craze-can-hollywood-producers-mine-bitcoin-a-hit-1107188

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