Well...I guess it wouldn't be too bad if they weren't traded on open markets. It's gonna be bad enough soon with all the coins based on companies. You could run it where people are paid in the coins for their stake, like a stock, and then paid out a return or something. It would likely be done differently by different movies.
A coin could also be used to fund a movie...but it really would be annoying if an actor had to keep track of all those. Can you imagine how many Nic Cage would have at this point?
I wonder if productions could just be funded with existing coins rather than doing an ICO, just like a traditional crowd fund but with crypto. I like your staking idea, people are more likely to get involved if they know that they'll get there coins back at the minimum.
Well...suppose you had a coin for your production company...you could sell them to raise money for production. Then you could pay employees with the coin, preferably in addition to some cash. It would be like stock. Maybe have a set number of coins produced every few months? Or have it based on growth or something?
You could also probably use it to pay out for productions based on how much they own...and it would make it super easy to just sell your stake from a movie or in a company.
Basically, it's fully possible, but you'd probably want a custom designed, or at least tweaked, coin.
You come up with some really good ideas; some of these ICOs could use a mind like yours to identify issues with their projects and also come up with solutions!
That's really cool. There's another crypto, Slate, that's trying to be it's own rights ownership network for films...I think.
Kinda looks like there might be all sorts of crypto in the film industry in the future. Hell, there are various blockchain efforts for tracking things like the products in a warehouse. Tracking props and equipment could easily be done on a blockchain. They could also track who has copies of a film. I probably couldn't come up with the number of things they could do on the blockchain.
Well...I guess it wouldn't be too bad if they weren't traded on open markets. It's gonna be bad enough soon with all the coins based on companies. You could run it where people are paid in the coins for their stake, like a stock, and then paid out a return or something. It would likely be done differently by different movies.
A coin could also be used to fund a movie...but it really would be annoying if an actor had to keep track of all those. Can you imagine how many Nic Cage would have at this point?
LOL! True, too many coins!
I wonder if productions could just be funded with existing coins rather than doing an ICO, just like a traditional crowd fund but with crypto. I like your staking idea, people are more likely to get involved if they know that they'll get there coins back at the minimum.
Well...suppose you had a coin for your production company...you could sell them to raise money for production. Then you could pay employees with the coin, preferably in addition to some cash. It would be like stock. Maybe have a set number of coins produced every few months? Or have it based on growth or something?
You could also probably use it to pay out for productions based on how much they own...and it would make it super easy to just sell your stake from a movie or in a company.
Basically, it's fully possible, but you'd probably want a custom designed, or at least tweaked, coin.
You come up with some really good ideas; some of these ICOs could use a mind like yours to identify issues with their projects and also come up with solutions!
Funnily enough, I just stumbled across this article, which highlights solving the issue with copyrights and removing middlemen sucking out profits, such as accountants and distribution fees. https://awsmo.com/no-postage-necessary-worlds-first-blockchain-film-released-on-qtum/
That's really cool. There's another crypto, Slate, that's trying to be it's own rights ownership network for films...I think.
Kinda looks like there might be all sorts of crypto in the film industry in the future. Hell, there are various blockchain efforts for tracking things like the products in a warehouse. Tracking props and equipment could easily be done on a blockchain. They could also track who has copies of a film. I probably couldn't come up with the number of things they could do on the blockchain.
Slate... I'm going to look into that, sounds interesting.