The NFTs of “Calladita”, the first Spanish film to be financed through the sale of non-fungible tokens, go on sale tomorrow. The film has the direction of Miguel Faus and the interpretation of Antonio de la Torre, Emily Mortimer or Susana Abaitua. The executive producer is the American Jim Cummings, writer, director and star of the short film Thunder Road. Faus explained to the Blockchain Observatory that NFTs present a great alternative to the traditional methods of financing European auteur cinema, by getting the community involved in the process. The director hopes to raise 1.4 million in a campaign that will begin tomorrow, March 2. The «Calladita» collection will be sold on the website www.calladitafilm.com and the NFTs will be minted on the Ethereum network.
Quiet Movie NFTs
“Calladita” wants to be one of the first fictional feature films on Web 3. The film is based on a short film of the same title, which the filmmaker wrote and directed in 2019. It tells the story of a young Colombian woman who works as a domestic worker in a summer mansion on the Costa Brava. The short film has been selected in numerous festivals around the world and has been acquired by platforms such as HBO and Filmin. If all goes well, the film will become a global reference in a new way of obtaining funds to finance the production of films. And the NFTs, in the necessary tool to obtain said financing.
Miguel was born in 1992 in Barcelona and lives in London. In this city, in addition to “Calladita”, he has written and directed several short films, such as The Death of Don Quixote ( Meliès de Plata at the 51 Sitges International Festival).
Advantages over other forms of financing
Miguel explains that in film projects financed through NFTs, the participant, instead of receiving a poster or a t-shirt as a reward, gets an NFT. It is a durable and robust digital asset, which can also be sold in an open and frictionless market, he says. “This means that his contribution to the film, in addition to the value that he can give it for having contributed to its creation, he has an asset that he can sell. Therefore, the collaborator can aspire to recover his contribution. He may even get returns in the future, if the film is successful »says Miguel.
A fairer system
For Miguel, financing with NFTs presents a fairer system of obtaining money for the creators of the film. It is, he says, because it empowers the audiences, who are the ones who decide which films they want to support. On the other hand, creators do not have to “ask permission” or get approval from public institutions or corporations to obtain funding. They can get it thanks to the community that supports their project, he stresses.
The arrival of the Web3
The director of “Calladita” is convinced that Web3, with all the new financing possibilities it offers, opens the possibility of knocking down doors to the current Status Quo. “I think that Web3 technology will alter the balances of power in the distribution of content of all kinds. Overall, it will benefit audiences and creators and force platforms and distributors to adapt. Beyond “Calladita”, I believe that Web3 will completely change the film industry in all its areas”, highlights Miguel.
As indicated on the film’s website, buyers who decide to support the project will receive different rewards depending on the NFT they buy. At the lowest level: “TIER 1”, the buyer’s name will appear in the credits of the film and they will have access to a private Discord, where they can access the entire process of creating the film.
With the “TIER 2” NFTs, in addition to the above rewards, the buyer will get an invitation to the Meta-premiere of the film and will have the opportunity to participate in a video question and answer session with the film’s team. Level 3 allows you to visit the set and attend the team’s farewell party. Finally, level 4, apart from all the previous rewards, contains a physical piece used in the film and allows you to put your avatar in the credits of it.
The goal is to raise $1.4 million, although everything is at the expense of ETH volatility, says Miguel. “After a year in the world of NFTs, I have learned that it is better not to have too high expectations, since this space surprises us every day. Our goal is to be able to make the film during this summer or in September, which could take up to 2 or 3 months to sell the NFT collection, without having to alter our plans.
Once the film is made, the plan is to distribute it through traditional channels, starting with a premiere at one of the best international festivals, and then showing it in theaters in different territories. Other windows are also provided. Like TV, VOD platforms, etc. “If during the process the more native web3 distribution options have advanced and we can include them, we will be delighted”, concludes Miguel.