Demand Film has unveiled a new cryptocurrency named Screencreds. The purpose of this newly launched cryptocurrency is to reward the users and offer them incentives for watching and promoting trailers for the company’s upcoming movies.
The launch of this new cryptocurrency is set to take place today, Tuesday, Aug 21, in Germany, as reported by The Hollywood Reporter. Previously named Leap Frog Films, Demand Film (renamed in 2017) presently has a network of around 2,300 cinemas, which release movies via a cinema-on-demand model. This new project is an ideal example of how blockchain technology and cryptocurrency can create waves in a variety of industries.
Viewers Will Be Paid to Watch Movies
Presently, Demand Film offers cinema-on-demand services to mainly English-speaking audiences across the globe. Based on user requests, the Australian film distributor arranges theatrical screenings for upcoming movie releases and documentaries.
The present idea behind the launch of a new cryptocurrency is providing the viewers an incentive to promote and market the movie offerings of the film distributor. In other words, the users will be able to earn Screencreds tokens whenever they watch or share movie trailers of upcoming Demand Film releases. David Doepel, the company’s managing director and CEO explained:
“The more people see the shared trailer, and the more people that then buy tickets to our screenings, the more Screencreds users earn.”
The tokens that users earn can be exchanged for movie tickets to Demand Film screenings. They can even attend VIP events and rub elbows with celebrities and directors. Furthermore, they can fully trade the currency on Australia’s NCX exchange.
Screencreds Will Work on a Revenue-Split Model
Demand Film will also use Screencreds to pay filmmakers their royalties. For testing the system, the film distributor will initially work with Aussie moviemakers Eleanor Sharpe and Nickolas Bird. Under a revenue-split model, the directors will get a certain percentage of the sales.
This Company Wants to Pay You in Crypto to Watch Cinema-on-Demand was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.