For too long, the Hollywood system has been closed to outsiders; it’s challenging to get anything made without already making something successful. That’s why founders Ben Rosenblatt and Micho Rutare created $FLIX to solve that chicken-or-egg problem.
By leveraging the creativity of its community members and producing partners, $FLIX can generate revenue for film projects while at the same time increasing the token value for investors. And because $FLIX isn’t beholden to the old system of gatekeepers, they have the freedom to take creative risks, ultimately making the kinds of movies Hollywood is too afraid to make.
So, how does it work?
$FLIX uses a percentage of every transaction to fund movie projects, then successful projects fuel interest in the coin, interest fuels volume, and volume funds the “film wallet.” Once a film, script, or concept is sold, money from that sale is used to buy back tokens and “burn” them. This makes the token deflationary: over time, there will be fewer and fewer tokens worth more and more.
“At $FLIX, we believe that Web 3.0 is the meaning economy: community replaces clicks, and storytelling trumps algorithms.” Co-Founder Micho Rutare continues, “Crypto investors aren’t just looking at their bottom lines; in this era of the Great Resignation, people are looking to align their investments with their passions. So $FLIX is all about the story: the storytelling of the films, the story of the coin, and the story of how a community of film lovers, filmmakers, and crypto investors comes together to change the way.”
$FLIX began as a meme coin, a hyped-up cryptocurrency. But while most meme coins are pump and dump schemes, Rutare and Rosenblatt intend to pump and not dump. Instead, they are building long-term value with our film projects and our community. And while they are prioritizing long-term value, they want to generate enough activity to make the coin an attractive short-term investment.
In the short run, $FLIX is focused on developing a slate of projects, building value with the product rather than hype. Secondly, they plan to produce and release films, with community involvement along the way. Lastly, they want $FLIX to become a real currency, both in the metaverse and at brick-and-mortar theater chains.
How does this change the landscape of crypto in general? With the recent contraction of the market, the speculative bubble of meme tokens and NFTs is coming to a close. As a result, investors are looking for real value and are more reluctant to throw money at whatever coin is mooning on a given day. “We believe that this current contraction is a lot like the Dot Com Bubble of the early 00s–it took the crash to clear the underbrush, paving the way for the FANG companies to define the Web2 era,” said Rutare. “$FLIX is well-positioned to be one of the giants of the Web3 economy, harnessing the power of the blockchain and using it to create real-world consumer experiences.”
Rutare added, “Ultimately, $FLIX will be a vertical filmmaking platform, generating revenue at every phase, from development through exhibition. For film finance, we want to do what Apple did for personal computing–to create a user-friendly consumer brand that eventually builds its own walled garden ecosystem.”