The founder of the blockchain-based film sales platform Cinemarket is launching Cineverse, an ambitious start-up that will make it possible for filmmakers, distributors and producers to market film…
, an ambitious start-up that will make it possible for filmmakers, distributors and producers to market films directly using blockchain and NFT tech.and partners Vincent Lopez and Daniel Siegler , Cineverse will allow users to buy, share, gift, sell and resell films over the platform.
Later, while running Cinemarket, Lugol realized that film licenses could be exchanged between two people. Already working with NFTs, or non-fungible tokens – non-interchangeable units of data stored on a blockchain – he began to explore how this technology could be used to also support independent filmmakers.
Key to the project is its eventual and complete decentralization, in part to ensure its long-term existence. “We won’t own the company I think in two years. We want the community to own it,” Lugol says. “To have a proper decentralized platform, you cannot have a Netflix or a Google controlling it.” While film financing via NFTs and blockchain is already happening, it can be difficult without the kind of infrastructure that Cineverse offers, namely a seamless payment system, Lugol explains.
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