EXCLUSIVE: The next wave of disruptors are here. Sitges International Fantastic Film Festival is to become the first major movie fest to accept cryptocurrency. The well-known Spanish genre festival has entered into a deal with fledgling new tech firm Slate Entertainment Group (SEG) to take on its blockchain based digital ticketing platform Slatix, which uses digital currency called Slate, for the purchase of tickets and festival passes.
According to the festival and SEG, tickets purchased using the Slatix app will have “near-zero transaction fees, will be forgery resistant virtually eliminating fraud, and instantly transferable.” Nate Bolotin from XYZ Films, an SEG advisor, brokered the deal. SEG’s suite of products in development include Binge, a blockchain VOD platform; Slate and Slatix.
The firm will be in Cannes looking for content to add to Binge. Blockchain, the technology at the core of digital currencies like Bitcoin, has been hailed by some as a way to decentralize and further democratize internet services and business models.
It is a hot topic here in Cannes — and features in the market’s NEXT programme — because it offers potential opportunities for content creators and distributors searching for greater transparency over transactions as well as a growing subset of online savvy consumers. Yesterday, sales and production outfit AMBI announced blockchain-based platform TaTaTu, which aims to reward users for watching content.
It said it expects to funnel some of its own titles through the service. Earlier this year, Tribeca premiered psychological thriller Braid, which has been described as the first significant feature film funded through an equity crowdsale using cryptocurrency. Read more from deadline.com…
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