The “Sharknado” Creator Developed a Cryptocurrency Token Revolutionizing Film Financing  – Grit Daily News

For too lengthy, the Hollywood system has been closed to outsiders; it’s difficult to get something made with out already making one thing profitable. That’s why founders Ben Rosenblatt and Micho Rutare created $FLIX to unravel that chicken-or-egg downside. 

By leveraging the creativity of its neighborhood members and producing companions, $FLIX can generate income for movie tasks whereas on the identical time rising the token worth for buyers. And since $FLIX isn’t beholden to the previous system of gatekeepers, they’ve the liberty to take inventive dangers, in the end making the sorts of films Hollywood is simply too afraid to make. 

So, how does it work?

$FLIX makes use of a share of each transaction to fund film tasks, then profitable tasks gas curiosity within the coin, curiosity fuels quantity, and quantity funds the “movie pockets.” As soon as a movie, script, or idea is bought, cash from that sale is used to purchase again tokens and “burn” them. This makes the token deflationary: over time, there might be fewer and fewer tokens price increasingly more. 

“At $FLIX, we consider that Internet 3.0 is the that means financial system: neighborhood replaces clicks, and storytelling trumps algorithms.” Co-Founder Micho Rutare continues, “Crypto buyers aren’t simply their backside strains; on this period of the Nice Resignation, folks want to align their investments with their passions. So $FLIX is all concerning the story: the storytelling of the movies, the story of the coin, and the story of how a neighborhood of movie lovers, filmmakers, and crypto buyers comes collectively to vary the way in which.”  

$FLIX started as a meme coin, a hyped-up cryptocurrency. However whereas most meme cash are pump and dump schemes, Rutare and Rosenblatt intend to pump and never dump. As an alternative, they’re constructing long-term worth with our movie tasks and our neighborhood. And whereas they’re prioritizing long-term worth, they need to generate sufficient exercise to make the coin a beautiful short-term funding. 

Within the quick run, $FLIX is targeted on growing a slate of tasks, constructing worth with the product reasonably than hype. Secondly, they plan to supply and launch movies, with neighborhood involvement alongside the way in which. Lastly, they need $FLIX to turn out to be an actual forex, each within the metaverse and at brick-and-mortar theater chains. 

How does this alteration the panorama of crypto normally? With the latest contraction of the market, the speculative bubble of meme tokens and NFTs is coming to an in depth. Because of this, buyers are searching for actual worth and are extra reluctant to throw cash at no matter coin is mooning on a given day. “We consider that this present contraction is lots just like the Dot Com Bubble of the early 00s–it took the crash to clear the underbrush, paving the way in which for the FANG corporations to outline the Web2 period,” mentioned Rutare. “$FLIX is well-positioned to be one of many giants of the Web3 financial system, harnessing the facility of the blockchain and utilizing it to create real-world shopper experiences.”

Rutare added, “In the end, $FLIX might be a vertical filmmaking platform, producing income at each part, from growth by exhibition. For movie finance, we need to do what Apple did for private computing–to create a user-friendly shopper model that ultimately builds its personal walled backyard ecosystem.”