Film crowd funding with revenue for donors

#1

Hello Interledger Community

My name is Tom McCarthy and I am a film maker and can see how Interledger can help create more stories for the world to enjoy and allow narratives to blossom.

I have been following the progress Interledger has been making since mid 2017 and with the rebirth of Codius and development of Coil have formulated an idea to allow film makers to crowd fund their movies where the donors receive part of the films revenue.

Film making is an expensive art, it requires a lot of specialist equipment and multiple cast and crew. This results in a high barrier for entry and most story ideas die off before they begin.

Currently there are only 5 major movie studios which doesn’t allow for much variety in narrative as films are produced not as art but for profit products that are designed to boost toy sales and other paraphernalia.

The internet brought about crowd funding which helped get more stories told but the funding mostly came from families and friends of the film makers and not outside interest as there was no financial incentive to fund a project.

What I want to do is release the first film funded via Interledger where the people who contribute the upfront cost towards production receive a percentage of the revenue earned from Coil streamed payments of people watching the film.

The application works by having a funding goal (X) that people can donate towards in any currency they chose and the amount they donate in % of the target goal is what they receive from the the streamed Coil payments.

So if someone donated £X/100 (1%) when the Coil payments come through 1% would go back to the donor.

It would be brilliant if the invested stake (which is a smart contract) could also be bought and sold, so if a donor wanted to sell their X% investment a new buyer could be found and the streaming payment goes to the new owner.

As a proof of concept I want to create a short film with a funding goal of £30,000.

I have written a script, gathered a crew and my current employer (Industrial Light & Magic an Oscar winning VFX company) will help with the post production work.

I currently have no coding ability and I ask if any of you want to help through guidance and knowledge make this a reality.

Your input on the challenges and solutions of such a product is greatly appreciated.

Thanks!

3 Likes