In Hollywood, a crypto platform that isn’t just a way to lose your savings

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In Hollywood, a crypto platform that isn’t just a way to lose your savings
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A group of entertainment entrepreneurs thinks the blockchain may be the route to finding the next “Godfather.”

“I’m sitting here pretty far from everything,” Quinn, 36, said by Zoom from his writer’s cabin one recent evening. “So to be able to find a place where people are incentivized to give feedback on my project really means a lot.”Quinn is evidence for a case made fervently by Decentralized executives and other advocates that, contrary to

“I know there’s a certain cynicism when people hear the word ‘crypto’ — how does this have value and is not just some hype-y thing?” Roman Coppola said. “But we put value on the intelligent engagement of our participants. And we think that engagement should earn them something, which will bring more intelligent participants and build a community.”

Decentralized’s system works like this. The site solicits projects — shorts, scripts, pitches — for a small fee. Users can earn crypto by reviewing those projects as well as engaging with the site in other ways . They then can use the crypto they’ve earned to pay to enter theirIt is a self-perpetuating ecosystem — a constant re-circulation of work and currency that, if all goes according to plan, will leave creators with feedback and agents and producers with market insights.

Filmmaker Steven Soderbergh has sponsored one such contest that will pay out $100,000 apiece to three different projects; writer-director Kevin Smith has backed one for $40,000. DCP also says it will help steer these blockchain-blessed projects to production companies and talent agencies. Some who submit to the site also say it can reduce Hollywood’s structural bias. Producer DC Cassidy, who founded the production companyand is producing a story of Black athletes in extreme sports called “Black People Do,” says a platform like Decentralized furthers this goal.

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