U.K based First Flights aims to support independent filmmakers by utilising blockchain technology to crowdfund films, enabling filmmakers to access new ways of fundraising and financing their films.
What is First Flights?
First Flights is an incubator for filmmakers, part of the broader Goldfinch group of companies, it is driven to discover emerging filmmakers with bold and daring voices. Developing on their First Flights platform FF3 aims to take the elements of what has made their First Flights work well and bring it forward to utilise the benefits that Blockchain can provide. They describe FF3 as “A tokenised community-driven funding platform for films. Raising money through the allocation of tokens and NFT rewards in exchange for crypto”. Similar to traditional crowdfunding platforms offering perks, FF3 crowdfunding is paid in crypto tokens (in this case USDC) and the rewards include a variety of NFTs and other perks. The FF3 platform is built on the Polygon. The Polygon network is also home to the worlds first carbon-neutral NFT marketplace and its use of the proof-of-stake consensus mechanism against the “traditional” proof-of-work mechanism currently used by Bitcoin and Ethereum, reduces the energy consumption of each transaction by around 99.95%.
The Dead of Winter
The first project being launched on the FF3 platform will be director Stephen Graves’ The Dead of Winter, The film is a horror/thriller that tackles themes of privilege, social responsibility, guilt and the “fear of the other”. Proceeds will go towards the film’s production budget, and rewards for patrons include NFTs featuring Film Titles Badges, Scene Stamps, Film Posters, Director Note Scripts, NFT of the films Score and exclusive community access. Of his decision to go down this new route of film financing Stephen Graves said, “I think it’s important to show that the crypto world isn’t always inward-looking—it can provide a viable means of funding to projects that have broader, mainstream appeal and have no crypto plot“.
How to participate
Those wishing to participate can do so in three steps 1. Set up a Metamask crypto wallet 2. Transfer your tokens to your wallet 3. Support the crowdfund and choose a perk. For more information & a step-by-step walkthrough head over to FF3 website.