Decentralized Pictures Unveils Blockchain Streaming

Decentralized Pictures, a pioneering blockchain-based film funding platform, is setting the stage for a significant evolution in how films are distributed and monetized with the introduction of its in-app streaming service, DCP+. This beta launch, expected “in the next month or so,” represents a bold stride toward democratizing the film industry, leveraging blockchain technology to ensure fairness and transparency.

Co-founder Leo Matchett shared that the driving force behind DCP+’s inception is to counteract the concentrated power within traditional distribution channels by offering filmmakers a platform to showcase and monetize their work. The service, rooted in the ethos of the non-profit 501(c)(3) organization, promises a distribution method that is “100% free, on-chain and auditable and immutable.”

DCP+ aims to integrate seamlessly within the Decentralized Pictures platform, allowing users to rent films using the FILMCredits token. This innovative currency can be acquired through fiat or by engaging with the community, such as by reviewing scripts and trailers. The platform’s approach to revenue distribution is notably progressive, employing a “cap table” completed with crypto wallet addresses to ensure equitable profit sharing among equity holders.

Furthermore, the platform plans to revolutionize content discovery and quality assurance through an incentivized peer review system. By rewarding users for reviewing films, creators can engage directly with their audience, facilitating curated recommendations and test screenings. This system not only fosters a more dynamic interaction between filmmakers and viewers but also upholds standards by charging a moderation fee for reviewing content against copyright violations and community guidelines.

Matchett distinguishes DCP+ from other Web3 streaming services by emphasizing its commitment to public service, underpinned by its non-profit status. This model reinvests 100% of revenue back into the platform, directly benefiting rights holders and supporting the broader creative community.

Decentralized Pictures, co-founded by esteemed filmmaker Roman Coppola, operates on the T4L3NT Net, a fork of the Tezos blockchain. It offers a unique ecosystem where users can acquire FILMcredits tokens to participate in film funding awards, with a portion of profits from successful projects reinvested into future initiatives. The platform has already distributed substantial funding to filmmakers, with contributions from industry giants like Steven Soderbergh and Kevin Smith.

Decentralized Pictures’ DCP+ is not merely an addition to the burgeoning field of Web3 streaming platforms but a reimagining of the film distribution landscape. By marrying blockchain technology with a community-driven approach, DCP+ offers a new paradigm for filmmakers to gain visibility and financial sustainability. As this platform evolves, it may well set a new standard for the industry, championing accessibility, transparency, and equitable compensation for creators worldwide.