First Decentralized Funded Cinema “Calladita” Director Miguel Faus Encourages Filmmakers To Innovate With Funding Models

Director Miguel Faus made headlines last year when he used NFTs to fund his feature film, "Calladita." However, Faus cautions that replicating his NFT fundraising strategy may not work as the Web3 filmmaking space has evolved. He believes that filmmakers need to continuously innovate to foster the future of decentralized cinema.

Key Highlights

• "Calladita" Director Miguel Faus shares his experience with NFT fundraising for his feature film.
• Faus suggests that continuous innovation is critical to the burgeoning Film3 movement.
• Filmmakers need to be open-minded and iterate what has been done before to foster the future of decentralized cinema.
• "Calladita" plans to launch a DAO governed by NFT holders who will own 50% of the film in perpetuity.
• With NFTs, filmmakers can empower themselves and bring unique, compelling stories to audiences worldwide.

Faus's NFT fundraising effort for "Calladita" was a success, with over 400 backers buying NFTs to support the project. However, the all-access permits designed for the film had a low entry price point and didn't catch on as much as Faus had hoped. Nonetheless, "Calladita" is moving on to sound editing, color grading, and the original score, with hopes to launch on the film festival circuit around mid-May. In the future, "Calladita" plans to launch a DAO governed by NFT holders who will own 50% of the film in perpetuity. Proceeds from the film will go into a fund managed by NFT holders. However, direct revenue shares cannot be offered to NFT holders as it would turn the NFTs into securities.

Faus received a $100,000 completion grant from "Ocean's Eleven" director Steven Soderbergh in January through the Web3 funding platform Decentralized Pictures. Furthermore, "Calladita" won the Andrews/Bernard Award, which provides $300,000 in finishing funds for noteworthy films and shorts. The award was established by Soderbergh and the Decentralized Pictures platform. Soderbergh saw "Calladita" and passed along his notes on the edit, which were "very sparse."

Faus is excited to found a new body in the ecosystem that can help foster the future of decentralized cinema. "Calladita" is the first European film funded by NFTs, purchased by HBO in the US and selected in various festivals globally. The film narrates the story of a Colombian woman, Ana, working as a live-in maid in a luxurious mansion in Costa Brava without any contract or residency papers. Ana uses her intelligence to take revenge behind 12 words that open a crypto wallet before leaving the mansion.

As NFTs continue to gain popularity in the entertainment industry, "Calladita" Director Miguel Faus suggests that filmmakers need to come up with new NFT funding models. Faus's experience with "Calladita" showed that continuous innovation is critical to the burgeoning Film3 movement. Filmmakers need to be open-minded and iterate what has been done before to foster the future of decentralized cinema. By exploring new NFT fundraising strategies, filmmakers can empower themselves and bring unique, compelling stories to audiences worldwide.