Before the spread of COVID-19 in 2019, movie sales around the world raked in over $45 billion. As cinemas shut down across the country due to the pandemic, in 2020, the US market decreased 65.7% from $11.4 billion to $3.9 billion.
Since the pandemic has eased and people have adapted to a new normal, the global movie market has slowly begun to bounce back. With the industry booming again, the pandemic has changed the way the entertainment industry operates. Entertainment streaming platforms, such as Netflix, Hulu, and Amazon Prime Video have become increasingly popular. These platforms not only offer convenience and a multitude of options to users but also encourage independent filmmakers to submit their projects and ideas, giving them a chance at the once monopolized entertainment industry.
As blockchain continues to make its mark on the financial world, more companies are moving towards decentralized technology to increase their financial security and transparency. However, the decentralized solution to the ongoing problem had yet to be introduced to the filmmaking industry.
Decentralizing the Film Industry
Built on blockchain technology, MovieBiz Coin aims to decentralize the current film industry. The platform encourages producers, directors, and all players involved in the movie-making business with more opportunities to grow, raise capital and establish their projects, therefore giving them an open door to showcasing their talent while giving investors opportunities to enter the movie industry.
Specifically, using crowdfunding technology, producers can tokenize their films by leveraging the MovieBiz Coin platform. The platform is also disrupting other parts of the film space, with its independent movie booking service called BookingCandy.
BookingCandy allows users to book tickets at local cinemas through their smartphones using blockchain technology. With the smart contract capability, retailers are ensured that their tickets are encrypted and can only be sold at face value, preventing ticket scalping.
MovieBiz Coin was created to support independent filmmakers, allowing them to create and showcase content, raise funds, and reach a trusted global community of film enthusiasts. Through their native $MBZ token, MovieBiz Coin aims to use its technology to invest in films and artists worldwide.
The advantages of having a decentralized platform allow MovieBiz Coin to confidently move headfirst into large and diverse markets, attracting film-making advocates all around the globe. MovieBiz Coin is a revolutionary step forward for the film industry, inspiring unconventional movie talents to access a slew of projects that, thanks to blockchain technology, are sure to enrich people’s lives with content that captivates and entertains.
“Most people don’t have the opportunity to invest in the movie industry and the main investors [are] people from the movie world. We [want to] change the way the movie industry works while making it possible for anyone to invest and make profits by investing in movies,” the company has stated on its website.