A South Korean upcoming film festival, hosted by the Gyeonggi Film School, will be partnered with MovieBloc, a blockchain-based media distribution platform, as it will be held from September 25 to October 4.
It has been reported that the festival’s audience will be able to rate each film in real-time in exchange for various tokens
However, attendees will be able to contribute in other ways as well, such as by providing foreign-language subtitles for various films, in return for additional token-based rewards.
According to the report, the online festival, which was developed in response to the COVID-19 pandemic, maybe the first of its kind and could set a precedent for future festivals in the post-coronavirus era.
Gyeonggi Film School partners with MovieBlock to launch the first “blockchain-powered film festival” in the country, reports @conexiondigicol https://t.co/IgYPRATayK — Cointelegraph (@Cointelegraph) August 28, 2020
Kang Yeon-kyung, the CEO of MovieBloc, said that he hopes this new model “can coexist with domestic and international film festivals and the film industry.”
Likewise, in July, a piece of collaborative performance art consisting of 15 short films, was hashed and minted into a non-fungible token on the Ethereum blockchain.
That event utilized a mechanism which rewarded the project’s contributors whenever an asset was sold.
Thus, the Gyeonggi Film School will implement a similar idea in their upcoming event.