July 21, 2024
Blockchain Meets Cinema: 'The Quiet Maid' and the Success of NFT-Funded Filmmaking
NFT

Blockchain Meets Cinema: ‘The Quiet Maid’ and the Success of NFT-Funded Filmmaking

A global sales agreement has been made for “The Quiet Maid,” a forthcoming feature film financed by the sale of NFTs.

The Ibero-American entertainment company FilmSharks purchased the globe sales rights to the social satire “Calladita” from Spanish director Miguel Faus during this week’s Iberseries trade show in Madrid. The agreement was initially reported by Deadline.

The Colombian maid in “The Quiet Maid” has highs and lows while working for a luxuriously affluent and maybe dishonest Spanish family on the Catalan coast. It is based on a short film by Faus that streaming provider Max acquired after screening it at festivals the previous year.

To raise money for a longer version of the same narrative, Faus quickly used the 15-minute movie to sell NFT passes. The NFTs were a success, garnering a $750,000 production budget; they gave holders access to the film’s development from behind the scenes and control over a percentage of the film’s future earnings through a decentralized autonomous organization (DAO).

Faus received $100,000 in January from “Ocean’s Eleven” director Steven Soderbergh as part of an on-chain fund created by Decentralized Pictures to support talented filmmakers open to unconventional film finance strategies.

Faus is thrilled to have used blockchain technology to get funding for his film, but he thinks the technology can only go so far in assisting the project’s fulfilment and cannot determine the creative merit of the work.

“I don’t think the success of the movie will come from the innovative and decentralized way it was funded,” Faus stated. “That was a success in its own right, but now the film has to find its audience and will appeal to them, or not, independently of how it came to exist.”

The Tallinn Black Nights Film Festival in Estonia will host the international premiere of “The Quiet Maid” the following month. It will be up for grabs in the First Feature division.

Image: Freepik

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