February 27, 2022

Could NFTs Finance Your Next Project?

(nofilmschool.com)

 

The future is encoded with crypto, so what does that mean for filmmakers and Hollywood? 

The spectacle of NFTs is slowly revolutionizing how feature films will find funding and distribution. Everyday consumers can become film financiers by simply purchasing a profit share in a film through “pre-sale NFTs.” 

Moviecoin.com, a crypto start-up, is leading the pack by partially financing the boxing biopic, Prizefighter, starring Russell Crowe and Ray Winstone. The lead developer of Moviecoin, James Hickey, told Express.co.uk that the groundbreaking inclusion of NFTs in the filmmaker process is “really to show that power can be returned to the artists and subsequently moved away from multiple intermediaries in a supply chain.” 

Hickey continues promoting the inclusion of NFTs in Hollywood by saying, “By tokenizing movie pre-production and selling NFTs representative of future rights we truly believe the whole industry will be turned on its head or at the least forced to give people a better deal.”

By: Alyssa Miller

Continue Reading at nofilmschool.com

Alberta’s $70-Million Boost In Film And Television Tax Credits Welcomed By Industry

(edmontonjournal.com)

Local industry groups are welcoming Alberta’s expanded film and television tax credit program, saying the $70 million allotted in this year’s budget will help support the growing sector and attract big productions.

Investment now and into the next few years is part of Alberta’s plans to diversify the economy and help it recover from the COVID-19 pandemic. Productions already approved for this year are expected to create up to 12,500 jobs, according to the government.

Tom Viinikka, CEO of Edmonton Screen Industries Office, said it’s an exciting time for the local television and film industries and this credit will provide the room it needs to grow.

“This tax credit makes us competitive with other regions and makes it possible for these productions, especially these really big productions, to come to Alberta,” he said.

“(These) come with potentially hundreds of millions of dollars for a single production, and it provides a ton of jobs and opportunities for people to develop their craft and their talent.”

With big productions like The Last of Us, Viinikka said 2021 was Alberta’s best year, bringing in more money than ever before. He hopes more productions see what the province has to offer, like the variety of seasons and locations — from the prairies to Edmonton’s river valley and big cities.

“We’re a really film-friendly region. It’s inexpensive to shoot, it’s easy to film here with great crew and great assets and infrastructure,” he said.

Advocacy group Keep Alberta Rolling, responding to the budget on social media, also said it will help grow the industry and benefit the province.

“The future is bright,” the group said on Twitter. “This represents increased jobs and investment in the sector and more opportunities to showcase our beautiful province.”

By: Lauren Boothby

Continue Reading at edmontonjournal.com

Michigan Matters: Film Incentives Making a Comeback?

(detroit.cbslocal.com)

 Southfield (CBS Detroit) – Michigan once had the most lucrative film incentives in the nation in 2008 but were ended in 2015. Now, some state legislators are trying to bring a modified version back as Peter Klein, Secretary-Treasurer of Michigan Film Industry Association, talked about on CBS 62’s “Michigan Matters.”

Klein talked with Carol Cain, Senior Producer/Host, and discussed how MIFIA has been working  with legislators who just introduced a two-tiered tax credit that provides incentives for Michigan-produced commercials as well as film, television and streaming productions.

State Sen. Adam Hollier, D-Detroit, State Sen. Wayne Schmidt, R-Traverse City, Reps. Kyra Bolden, D-Southfield, and Jack O’Malley, R-Lake Ann, are involved with the legislation. Senate Bills– SB 862-863 – is on its way to the Senate Economic and Small Business Development Committee, while House Bills, HB 5724-5725, is heading to the House Commerce and Tourism Committee.

Klein talked how the new initiative is a slimmed down version of what was launched in 2008. For more, see  www.mifia.org.

Ed Olson, CEO of May Mobility, the Ann Arbor based autonomous shuttle company, then appears with Cain to talk about his fast growing company. They are operating autonomous shuttles in Japan and major cities across the nation.

By: Detroit CBS Local

Continue Reading at detroit.cbslocal.com