NFTs Fund New Feature Film “The Quiet Maid”

In a landmark move, “The Quiet Maid,” an upcoming social satire film directed by Spanish filmmaker Miguel Faus, has secured a global sales deal. The deal was struck with FilmSharks, an Ibero-American entertainment firm. It was announced at Iberseries, an industry conference held this week in Madrid. The film, originally titled “Calladita,” explores the life of a Colombian maid navigating the complex dynamics of working for a wealthy and potentially deceptive Spanish family in Catalonia.

The Evolution from Short Film to Feature-Length Production

Miguel Faus first grabbed the industry’s attention with a short film that was subsequently picked up by streaming service Max after making rounds in the festival circuit last year. Recognizing the potential for a more in-depth narrative, Faus used the 15-minute film to launch a feature-length project. To make this transition financially possible, he leveraged NFTs to raise funds. 

These non-fungible tokens were sold to investors who were promised behind-the-scenes access to the film’s production. Additionally, through a decentralized autonomous organization (DAO), the NFT holders have been given a level of control over a share of the film’s future earnings. This fundraising method proved highly effective, as it raised a production budget of $750,000. CALLADITA is slated to make its global debut at the Tallinn Black Nights Film Festival, an event distinguished as one of the world’s 12 A-Class Film Festivals.

When Blockchain Meets Traditional Filmmaking

To bolster the project further, Steven Soderbergh, the renowned director behind films like “Ocean’s Eleven,” granted Faus $100,000 in January of this year. This financial injection came from an on-chain fund associated with Decentralized Pictures. The fund’s goal is to assist promising filmmakers willing to explore non-traditional methods of film financing.

However, while Faus celebrates the technological advancements that helped him cross the financial finish line, he cautions against conflating blockchain’s role in financing with the artistic quality of a film. In his words, technology can only take a project so far and should not be viewed as a factor that defines its artistic worth.

NFTs and Movies

In contrast to conventional film financing methods, the creators of “Calladita” turned to NFTs as a funding source. Notable filmmakers like Spike Lee and Kevin Smith have also begun using digital collectibles to secure funding and increase audience interaction.

By utilizing NFTs, film projects can produce and sell unique digital assets to a range of buyers, including collectors, investors, and film enthusiasts. This approach transforms the traditional movie-going experience. Instead of merely purchasing a ticket, fans can acquire a digital asset directly contributing to the film’s financing.

Moreover, NFTs offer innovative avenues for audiences to interact with and claim ownership over their favourite movies. For instance, a film studio might issue a limited set of NFTs that signify ownership of digital avatars for use in a virtual realm associated with the movie. Alternatively, NFTs could grant fans entry to special events or unique experiences tied to the film.