Theta Network and The Squad launching the MetaCannes Film3 Festival

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Theta Network and The Squad are launching the MetaCannes Film3 Festival, from May 16 to May 29. This is the same time as the famous Cannes Film Festival.

This festival is aimed at democratizing the film industry using blockchain technology. Over the course of the week, viewers will hear panel discussions, watch films and documentaries related to the Web3 sector. The festival will include high profile leaders from the world of film, including actors and directors.

The festival will offer a MetaCannes Streaming Pass that attendees can purchase on Theta Network’s native NFT marketplace. The pass provides holders with access to a highly curated library of short films for 14 days. It will also provide access to a special screening of the historic BAFTA and Oscar-winning short The Irish Goodbye.

“The MetaCannes Film3 Festival is the perfect opportunity to showcase Theta’s token-gated digital rights management solution that empowers filmmakers and event organizers to reach a global audience like never before.” says Mitch Liu, co-founder and CEO of Theta Labs.

The Film3 movement aims to merge the principles of Web3 with the film industry to create a decentralized and community-driven film industry.

“Film3 is all about empowering creators and dismantling the long-standing power imbalances that have limited the potential of independent filmmakers for far too long,” says Andrea Berry, the Head of Business Development at Theta Labs.

Overall, the MetaCannes Film3 Festival promises to be a groundbreaking event that brings together Web3 and the film industry to create a more transparent, fair, and accessible industry that puts film creators first. Filmmakers and industry professionals alike can learn about the impact of Web3 on the cinema sector and entertainment industry at this one-of-a-kind event.

The Future of Film with NFTs, the Metaverse and Blockchain

A recent study estimates that the metaverse market could reach up to USD 678.8 billion by 2030. Filmmaking is just one industry that is in prime position to take advantage of this new channel of entertainment.

Blockchain technology has the potential to reshape the film industry. It can help to create a transparent sector that puts the creator at the heart of production, management and distribution. Traditionally, movie making has been dominated by a small number of powerful studios, making it difficult for independent filmmakers without massive budgets to play with to break through.

However, by incorporating blockchain technology and NFTs into the filmmaking process, creators can now have greater control over their work, and a more direct connection to their audiences. NFTs can be used to sell tickets, as part of the production process, to build communities of fans and to sell limited editions of behind the scenes footage. The technology can also help to combat piracy and copyright issues in the future.

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