Blockchain and decentralized finance (DeFi) can help revive the film industry by bringing more transparency and opportunities. DeFiFi (Decentralized Film Financing) allows filmmakers to pitch projects to the blockchain community for voting and funding. Productions are monitored by the community, and profits are distributed openly without ambiguity. This increases transparency and trust, encouraging more investment and supporting a new golden age for film.

1. DeFi - RevivingThe Film Industry
To Thrive In A New Golden Age

3. Every day, technology advances, and its effects on numerous businesses are
enormous. “Blockchain Technology” is one of the technologies that has had a
favourable impact on every sector. With the development of digital technology,
India's Media and Entertainment Industry is predicted to reach US$ 25.56 billion by
2021-22.
Let's have a look at how Blockchain and the notion of Decentralized Finance (DeFi)
are altering the film business to make it more transparent and free of difficulties.
Let us immediately get into the notion of Decentralized Film Financing (DeFiFi)
Recent Stats of Film Industry
In 2019, global box office revenue reached $42.5 billion, with North America
accounting for $11.32 billion of that total. Subscription TV revenue is predicted to
reach $81.4 billion by 2024, up from $94.2 billion in 2019.
The World's Pandemic Corona Virus began towards the end of 2019 and is expected
to have a significant influence on the film industry in 2020 and 2021.
The United States is the world's largest film market, and Canada is not far behind.
In 2019, US and Canadian box office sales were $2.09 billion, with 3D films bringing
in $1.3 billion.
As a result, one of the key income-generating businesses, the “Media &
Entertainment Industry,” was ranked first since it generates a significant portion of
global income each year.
Here are some facts concerning the film industry in the United States.
Effect of Pandemic on Entertainment Industry
Traditional TV, OTT Videos, Cinemas, Internet Advertising, and other areas of the
media and entertainment industry exist.
The Media and Entertainment Industry has been severely impacted by the COVID'19
epidemic.
Despite the fact that downloads and usage of OTT applications and online
video/audio streaming platforms surged fast during the Lockdown, theatres were
shuttered, and cinema income fell by -2.4 percent in 2020.
Due to the closure of theatres to distribute movies, total US cinema revenue fell to
US$3.5 billion in 2020 from US$11.4 billion in 2019.

4. Major Challenges in Film Industry
The creators of a film or a television series are confronted with a problem that
requires additional time to resolve. When a filmmaker's or creative's script or ideas
are utilised by someone else, the creative must go to court and submit a claim to
reclaim ownership of his or her work. This is a tough and time-consuming process,
and the primary difficulties in the global media and entertainment sector include
legality, ownership, and copyright.
Lack of Transparency in Financing
In the film industry, the investors put their money into a project and they do not
know the status of funds being used at various steps of film productions. This makes
most individuals fear investing in filmmaking.
Drift from Traditional TV to Internet
As smartphone technology is driving the digital world, there has been a shift from
cable Television networks, DVDs to the internet. Nowadays the internet streaming
business platforms are making huge investments in the production of films, series,etc
which results in threat for traditional film makers.
Competitive Space between Movie Theatres & Television
Prior to the epidemic, many people preferred to see movies in theatres. UHD
televisions feature 4K resolutions, which is higher than the 2K resolution used in

5. movie theatres. Despite the fact that television has a greater frame rate and dynamic
range than cinemas, consumers prefer to view movies in premium cinemas.
Online Series that competing with Conventional
Movies/Cinema
The traditional theatre or movie has a lot of competition these days, since online
programmes are becoming increasingly popular. As a result, people enjoy watching
television shows or movies at home since they deliver a theatrical feel even on a little
screen.
Lack of Variety in Genres
When watching a film or a television series, people search for original material. Only
those who are one-of-a-kind are able to attract and reach a large worldwide audience.
As a result, people from many areas should be included in the filmmaking process.
The following are some of the more serious difficulties that the film industry is
dealing with:
● Grants from the government are few for short films.
● Access to many markets is limited due to a lack of content.
● Longer working hours for little money
● Film personnel are unaware of their legal obligations.
● Reductions in taxes
● Frustration with Film Franchises
● Depreciation of film as a product, among other things.
How Blockchain & DeFi are the Rescuers?
The blockchain and DeFi are here to save the film business from its biggest issues.
Because blockchain and DeFi are based on decentralised notions, they can both help
the film business, which is plagued by a lack of transparency in funding.
Bring Privacy in Data
The amount of films that have been leaked online before their release has increased
dramatically throughout the years. Even while blockchain is not an end-to-end
solution for privacy, records cannot be edited or erased owing to its immutable
nature. Smart contracts and tokens are being used to notify content owners, search
engines, and ISPs, among other things.
Simplifying the process of Sales and Distribution
It takes a long time to connect the film industry's global networks of producers,
distributors, and viewers. As a consequence, blockchain technology makes it simple

6. to connect producers, distributors, and global audiences into a single network. For
the film industry, this will be a decentralised and scalable solution.
Enriching the Copyright and Ownership
It is a challenging process to establish copyrights and safeguard cinematic material
when it comes to copyrights. As a result of blockchain and DeFi, authors may
immutably register their ideas or scripts on the network. No one has the authority or
chance to acquire ownership of the scripts that have already been registered.
Equal Opportunities for Everyone
Current Film Industry does not have a space where every player can get the same
space to establish their scripts or ideas. But with blockchain , which creates absolute
transparency, even small players can get the chance to produce their film and make
revenues.As blockchain provides global access, investors from anywhere can
purchase,sell or trade their film or script.
Easy and Transparent Financing
With Blockchain and DeFi which are Decentralized in nature, the investors can
monitor the complete usage of his funds on various stages of film making and also
the profits received over the projects that he has invested.
In many ways DeFi and Blockchain technology can uplift the media and
entertainment industry.
DeFiFi - Crafting a New Path For Film Industry To
Thrive In A Golden Age
What is DeFiFi ?
DeFiFi is the intersection of decentralised finance and the film business, resulting in
an efficient entertainment system. With the rise of video streaming at COVID'19, $40
billion was trapped in the decentralised finance protocols.
Investors or film producers are the ones that put their money in early and wait for a
return later.
Since there is no transparency in the film production process as to how funds are
spent, how earnings are obtained, how they are assigned for distribution, and so on.
The investment choice is tricky since the reward is contingent on the film's
performance, which is unknown until it is released. As a result, DeFi and
blockchain technology can help solve all of these issues by establishing a new
domain of Decentralized Film Financing, or DeFiFi.

7. How Film Productions can be carried out using
DeFiFi ?
Filmmakers may use the blockchain and decentralisation to pitch their projects to
the blockchain community, and the community may vote on which films deserve
financing. When the projects are chosen, they will be given the funding they require
from community-managed funds.
Filmmaking takes place off-chain, or offline, and requires monitoring from the
DeFiFi community to ensure that money is used effectively for filmmaking.
When the film is finished, it should be made available on the platform for built-in
viewers to vote on.
The final accounting process will be more open and irrevocable, removing the
ambiguity about profit usability.
In today's film production process, there is less openness in the finance, production,
and distribution stages. The architects of the DeFiFi community, on the other hand,
have entire control over the financial assets. This increased exposure of money
utilisation may encourage volunteers to invest in film projects, ushering in a new
golden era for the film industry.
The Golden Era of Decentralized Film
Investing in Films made it much easier and more transparent with the help of DeFiFi
which makes more financiers participate.
The more the investment available for the film production, the more the films
produced and the more the supporting filmmakers with great content ideas and
script which attracts more fans and audience across the globe.
Other use cases of DeFi and blockchain in the entertainment ecosystem provide
participation of the audience and get rewards.
A complete digital rights management system which allows artists to register their
ideas and get funds for their productions. This decentralized film era can thrive the
film industry to the next level with greater transparency.

8. What are the advantages of the application of DeFi
and Blockchain in the Film or Entertainment
Industry?
Listed here are the benefits that we can enjoy by the utilization of the concept of
distributed blockchain technology and DeFi.
● Reduced Content Privacy
● Improvements in Distribution of Royalties
● Increased Transparency
● For Creation & Maintenance of Smart Contracts
● Democratizing the oversights of digital assets
● Supports a dynamic and connected global network which digitally connects
content producers,distributors and audiences.
These are the advantages of applying Decentralized Concept in the Film Industry.
Future of Film Industry with DeFi
As of now, there are many decentralized platforms to produce films such as
Filmio,Mogul Productions and more which come under DeFiFi platforms trying to
provide a decentralized film production space.
Thus with blockchain technology, decentralized finance and smart contracts the film
industry can experience the complete transparency and security of data .Thus
decentralized films will be the future of the Media and Entertainment Industry which
will completely rely on the decentralization concept.
Let us hope for a Sustainable and Bright future for the Film Industry with the
adoption of DeFiFi !
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