Many see the film industry as the next frontier for the development of Web3 and blockchain technology. Because movies have historically been financed by wealthy investors or centralized production companies, blockchain offers a unique tool to decentralize the investment process. Filmmakers can start projects faster, and individuals can take an interest in a film's financial results in a way that was historically impossible thanks to the transparency and efficiency of blockchain.
The tokenization of all forms of entertainment is on the rise, and with it the mainstream adoption of cryptographically bent films.
One such example can be found in the Spanish documentary Bull Run , which recently had its international premiere at the Doc NYC Documentary Film Festival in New York on November 15th. Bull Run , directed by Ana Ramon Rubio, describes itself as "the first iconic film in history," taking in 320,000 euros (about $370,000 at the time) in just 24 hours in September 2021.
According to producer Juanjo Moscardo, this process changed the rules of the game. "We had four years to raise money for my last film," he said during a Q&A about the film. "And like I said in the movie, it was lifted in just one day."
“We think it's a really good way to raise funds because there are things where you can't wait to start shooting or filming, but you have to have money. And that's what we wanted to do, just a bull run . We wanted to run away with the bulls."
The film's backers are awarded the BULL token, which is described as a security token that provides "credits for the film and certain rights to the film's revenues." Owners are guaranteed a certain percentage of profits distributed through the blockchain, as well as other benefits such as invitations to premieres and producer credits. The main contestant was given 60 seconds of airtime to literally say whatever he wanted, which was cut and re-cut at various points in the film.
Related: Sundance Film Festival Embraces Blockchain Initiative, Crypto Movies
The documentary began filming in late 2021 at the height of the bull market. As explained in the film, Rubio was introduced to cryptocurrency by a friend and was soon trading and witnessing lucrative gains. His family was not happy, telling him it was a pyramid scheme and urging him to quit the business and go to therapy. But he did not give up and made a documentary about it.
Bull Run is a first-person account of how the exponential growth seen during a bull market can quickly become massive. While the documentary explores the basics of blockchain and includes interviews with several well-known Spanish-speaking cryptocurrency figures, the film's emotional focus is on Rubio's passion for the business and how it has affected his life.
It's quite a meta-film and is mostly about the behind-the-scenes journey of the director and the making of the documentary. For example, during an interview with Miguel Ángel Gonzalez, host of the YouTube channel Bitcoin al Día ("Bitcoin Every Day"), the camera shows Rubio handing his cell phone to one of the production crew so he can exchange it. During the interview.
While surprisingly funny and generally light-hearted, Bull Run also delves into the director's personal life, revealing how her cryptocurrency business affected her relationship with her husband and how the documentary ignited her passion for cinema. It's important to note that if things break in 2022, he'll follow Rubio. Indeed, one of the main themes of the film is the shift from viewing cryptocurrency as a speculative asset to being forced to reassess its purpose in a bear market. Finally, learn how people around the world are using Bitcoin and Blockchain technology to improve their lives and improve outdated centralized systems.
The rate of change in the cryptosphere is rapid, as evident in the bull run example. What does Rubio think about cryptocurrency now, more than two years into his blockchain journey? "Right now, I'm a big believer in Bitcoin," he told Cointelegraph. "There are many other interesting projects, but I don't know what will happen to them. Of course, I don't know what will happen to Bitcoin, but I believe that it will succeed. So now I am the owner."
Do you think it will come back down the retail rabbit hole?
“I don't know if I will be a seller when the new bull trend starts in 2025. Let's see how to come to terms with this addiction."
Journal: Cryptocurrency Trading Addiction. What to look for and how to treat?
