Key takeaways:
- Kinoapp.xyz, a Web3 platform that aims to revolutionize the film industry, has announced its Founding Membership program
- The Kino platform creates opportunities for filmmakers, content creators, and consumers
- Kino could lead to a substantial change in the way thighs are done in Hollywood, and other film centers around the world
- With Kino, consumers and fans can be involved in all aspects of film creation, from production to red carpet events, premieres, and more
Kinoapp.xyz (https://kinoapp.xyz/) is a Web3 platform that aims to decentralize the film industry and defend the rights of creators. The Kino team has announced that the highly anticipated Founding Membership program is launching on September 7, 2022.
Changing the way films are made
In a $212 billion market such as the movie industry, creators shouldn’t have to struggle, but unfortunately, they do due to a widespread practice known as “Hollywood Accounting.” This is a process in which studios and organizations siphon billions of dollars from creators’ royalties.
The dubious Hollywood accounting practice was pointed out by Daril Fannin, Co-Founder of Kinoapp.xyz, at the Metaverse Summit in Paris. He remarked, “This is a consistent problem in Hollywood that no one is talking about,” adding that this practice affects all categories of films, both big and small budget projects.
Continuing with his argument, Fannin said, “Lord of the Rings was made for $281 million, grossed $6B globally, yet the studio reported a ‘horrendous loss,’ which meant that Peter Jackson got zero dollars of the 7.5% [of the royalties] he was owed.” Bohemian Rhapsody (2018), another box office hit, claimed a $51 million loss for the studio despite grossing $911 million against a $55 million budget. He stressed, “Money is being made, but not being given to the people doing the work. Kino fixes that.”
Creating Opportunities for Everyone
Additionally, Kino is reinventing the concept of what it means to be a fan so that anybody can not only enjoy but also financially support movies.
Everybody has the chance to contribute and invest in the movie using Kino’s revolutionary economic concept, which has never been done before in the history of cinema.
Anyone will be able to do the following on the soon-to-be-released Kino platform:
- Invest in a Hollywood production with actors who have won or been nominated for awards, such as the Oscar, the Emmy, and the Golden Globe
- Collect an item of art from the movie, whether it be digital or physical, including costumes, amours, props, etc.
- Alternatively, invest in privileged online or offline experiences that immerse you in the production of movies from screenplay to screen, including set visits, red carpet premieres, and more
Stressing the importance and role of Kino in the film industry, the cofounder said:
“Hollywood has a long, well-documented history of sexism, racism, and bigotry. Our mission at Kino is to give power back to the people and let consumers (not advertisers) create and curate culture.”
Upon its release on September 7, 2022, the Kino Founding Membership will grant 1,000 users “whitelist access” (i.e., the first chance to access all the opportunities listed above).
Kino Founding Members are welcomed to attend the annual Kino Party with a community of celebrities, industry professionals, financiers & other film lovers. The first annual Kino Pary is taking place this December in Los Angeles.
In addition, Founding Members can look forward to unexpected invitations to offline and online events, exclusive items, and other benefits that are also part of the Founding Membership perks.
The Kinoapp.xyz was founded by Daril Fannin and Austin Worrell. Daril Fannin is a writer and executive producer who has worked with A-list actors like Matt Damon, Peter Berg, and Jimmy Kimmel on movies and television shows for companies like Netflix and Disney. Austin Worrell is a co-founder of the fastest-growing social impact token with a market cap of more than $500 million and more than 500 thousand holders.
Wrapping Up
It is very likely that Kino will have a huge impact on Hollywood and the global film industry. The ideas behind the platform are sound and could lead to Kino’s rapid adoption among filmmakers and consumers alike after the full rollout.
