I’ve written about the blockchain and smart contracts before. Now we have a breakthrough: the first film using both!
The film is called The Pitts Circus and promises to be a “feature length-horror-comedy movie incorporating the skills, comic talent and uniqueness of a real Australia circus family”.
Investors who buy some of the 666 shares with cash or Ethereum are guaranteed to share in 50% of the profits until 2036. Single shares are $150 USD or 10 Ether.
‘As always with indie movies, there is only a small chance for a huge success — but in case it does take off, it is a journey to the moon.”
Use a wallet you know you’ll control until then because the smart contract will distribute the proceeds, if any, to that account.
My take: I know this sounds a bit weird, but it represents a radically different way to raise financing and settle contracts by using crypto-currency and smart contracts, both made possible by the blockchain. This illustrates the power of the blockchain — it does away with the friction of intermediaries, in this case bankers, advisers, lawyers and accountants. (For kicks, work out how much the 2007 million dollar coin is worth today!)