The filmmakers behind the indie hit Bottle Shock starring Alan Rickman, Chris Pine and Bill Pullman are experimenting with a new platform called Funded.app that allows creators to offer the public a way to own a slice of any project. The concept of fractional ownership is not new, but the methodology is. "Funded.app uses blockchain tech to allow people to buy a part of it and track its success using blockchain technology," says Luke Dugdale, CEO of Funded.app.
The problem is that right now "the receipt of ownership" is called an NFT, and as we have seen recently in the world, the term NFT has been met with negativity. "Unfortunately, it's all about re-educating people. The blockchain is sound, the technology is safe and secure, the tracking mechanism is robust and very traceable," adds Steve 'Mac' McKeon, CEO of MacNerd.
The test that the filmmakers behind Bottle Shock are using is the creation of a new version of the film Bottle Shock – recreated now as a hand-drawn animated film. The film will follow the original storyline and even use many of the original cast's voices but make the film into a colorful fully-animated spectacle. The cost to do the film is $1.5M, with most of that budget going to the actual animation costs and actors' reuse fees. "The fame and recognition of the original make this test-run of fractional ownership much more attainable, we know that the project has interest, now it is simply down to explaining the tech behind it," adds Bottle Shock's producer Jody Savin.
Funding the project using the blockchain is only part of what the filmmakers are doing; they are well on the way to funding the project through traditional means as well. However, they do hope this method is successful because it could open up the possibility to fund other projects for many other independent filmmakers in the future. "Crowdfunding is not unique, crowd-owning is," says Bottle Shock's producer Randall Miller. "We may not be successful this time around, but I'm sure that others behind us will be. We want to be the bellwethers of change."
To learn more about this Bottle Shock project please go to Funded.app.
Filmmakers behind the project can be found at www.uncindie.com.
