New Delhi, 3rd January 2024: The World Film Communities Network (WFCN) has announced a groundbreaking initiative to bring about a colossal shift in the world of the film industry. The new economic model aims to decentralise the film industry by distributing creative control and financial support to different global communities.
The new economic paradigm known as the “Community-Driven Film Economy,” aims to reshape the dynamics of the global film industry. The film industry has historically placed a strong emphasis on a centralised system in which major studios control both the production and distribution stages. By utilising decentralised finance principles and blockchain technology, WFCN disrupts the long-standing norm and establishes a more inclusive and democratic ecosystem. With this, WFCN establishes the notion of community engagement throughout a film’s entire production process. Through WFCN, filmmakers will be able to show their projects directly to a global film audience, who can then become stakeholders by contributing to the production via a decentralised crowdfunding platform.
The ability to monetize films through various channels, which gives filmmakers the freedom to select between pay-per-view and ad-based revenue, is one of its primary features. This enables producers to modify their tactics according to the type of content they produce and the tastes of their target audience.
Commenting on this ingenious initiative towards the betterment of the film industry, WFCN’s CEO, Marcello Villiagram, states, “This eliminates the traditional reliance on major studios and financiers, giving independent filmmakers’ greater agency over their creative visions.” WFCN emerges as a comprehensive solution, serving not only as a gateway to film festival submission but as a transformative force in the industry. WFCN’s Founder, Shailik Bhaumik expressed enthusiasm about the potential of the model. “This model empowers filmmakers and film enthusiasts alike. It breaks down the barriers between creators and their audience, creating a more symbiotic relationship that transcends geographical boundaries.
As part of a bigger initiative to digitise the audio-visual entertainment sector, WFCN is set to introduce new features, such as chances for filmmakers to publish scripts, pitch to OTT platforms, and take advantage of crowdfunding and sponsorships.
The World Film Communities Network (WFCN) is a comprehensive platform that facilitates professional networking and festival submission. It’s an online community where artists can interact, share, and submit their creations. Its goal is to house the world’s creative personalities under a single dome.