Demand Film, an Australian film distributor, has launched its own Screencreds token based on consumer demand to reward viewers who actively promote their trailers.
Demand Film is set to launch in Germany next week and has just released a new cryptocurrency, Screencreds, to reward viewers who not only watch but also promote its film products.
Users will be paid for what they already do - watch films, share them, advertise the trailers they have watched to their friends. According to the company, the more people see the trailers, the more people buy tickets to the shows. The size of the reward will depend on the influence of the user. The more people see the trailer it advertises, the more Screencreds it will earn.
The tokens themselves can be redeemed for tickets to Demand Films screenings or to company-sponsored VIP events, such as meet-and-greets with directors and actors. The currency will soon be listed on the Australian crypto exchange NCX.
Demand Film is also piloting the use of its own token to pay royalties to filmmakers. With cryptocurrency, payment for film rentals will be automatic.
Demand Film, founded in 2016, already operates in the English-speaking world, organizing screenings for select feature films and documentaries based on online user requests. The launch in Germany is the company's first foray into non-English language territory. The company expects that the new cryptocurrency will give users an incentive to more actively distribute movie trailers and advertising.
Demand Film is not the first film company to become interested in cryptocurrency and Blockchain technology. More and more companies are looking to harness the potential of digital technology as a new source of financing in the film and video industry. Tube8 offers the same payment scheme for users to watch adult content. Since the beginning of the year, Playboy Enterprises has been trying to start accepting payments in cryptocurrency.
Today, film companies are becoming more creative in their use of blockchain technology. This is not only the use of cryptocurrency to stimulate marketing, but also the provision of licensing fees and the fight against piracy. At the recent Cannes Film Festival, several new firms touted their own blockchain-based solutions for everything from online advertising to anti-piracy.
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