For too lengthy, the Hollywood system has been closed to outsiders; it’s difficult to get something made with out already making one thing profitable. That’s why founders Ben Rosenblatt and Micho Rutare created $FLIX to resolve that chicken-or-egg drawback.
By leveraging the creativity of its group members and producing companions, $FLIX can generate income for movie initiatives whereas on the identical time growing the token worth for buyers. And since $FLIX isn’t beholden to the previous system of gatekeepers, they’ve the liberty to take artistic dangers, finally making the sorts of flicks Hollywood is simply too afraid to make.
So, how does it work?
$FLIX makes use of a share of each transaction to fund film initiatives, then profitable initiatives gasoline curiosity within the coin, curiosity fuels quantity, and quantity funds the “movie pockets.” As soon as a movie, script, or idea is offered, cash from that sale is used to purchase again tokens and “burn” them. This makes the token deflationary: over time, there shall be fewer and fewer tokens value increasingly more.
“At $FLIX, we consider that Internet 3.0 is the which means economic system: group replaces clicks, and storytelling trumps algorithms.” Co-Founder Micho Rutare continues, “Crypto buyers aren’t simply their backside strains; on this period of the Nice Resignation, individuals want to align their investments with their passions. So $FLIX is all in regards to the story: the storytelling of the movies, the story of the coin, and the story of how a group of movie lovers, filmmakers, and crypto investors comes collectively to vary the way in which.”
$FLIX started as a meme coin, a hyped-up cryptocurrency. However whereas most meme cash are pump and dump schemes, Rutare and Rosenblatt intend to pump and never dump. As an alternative, they’re constructing long-term worth with our movie initiatives and our group. And whereas they’re prioritizing long-term worth, they need to generate sufficient exercise to make the coin a lovely short-term funding.
Within the quick run, $FLIX is targeted on growing a slate of initiatives, constructing worth with the product fairly than hype. Secondly, they plan to supply and launch movies, with group involvement alongside the way in which. Lastly, they need $FLIX to change into an actual forex, each within the metaverse and at brick-and-mortar theater chains.
How does this transformation the panorama of crypto typically? With the current contraction of the market, the speculative bubble of meme tokens and NFTs is coming to an in depth. Consequently, buyers are in search of actual worth and are extra reluctant to throw cash at no matter coin is mooning on a given day. “We consider that this present contraction is rather a lot just like the Dot Com Bubble of the early 00s–it took the crash to clear the underbrush, paving the way in which for the FANG firms to outline the Web2 period,” stated Rutare. “$FLIX is well-positioned to be one of many giants of the Web3 economic system, harnessing the ability of the blockchain and utilizing it to create real-world shopper experiences.”
Rutare added, “In the end, $FLIX shall be a vertical filmmaking platform, producing income at each part, from growth by means of exhibition. For movie finance, we need to do what Apple did for private computing–to create a user-friendly shopper model that finally builds its personal walled backyard ecosystem.”