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While Web3 has yet to take off outside of the cryptocurrency space, Film3 had a big moment in the spotlight in Park City, Utah, on Saturday when ‘Calladita,’ a new film from director Miguel Faus, was named winner of the Andrews Prize/Prix Bernard.

Created by acclaimed director Steven Soderberg and platform Decentralized Pictures, the award provides $300,000 in finishing funds for outstanding English-language films and shorts.

“Winning this award from Steven Soderbergh is a dream come true for me and the entire Calladita team and community,” Faus said. Decrypt via direct message, adding that he believes Film3 is the future of independent cinema and is the reason “Calladita” exists.

Calladitatells the story of Ana and, according to Faus, is a portrait of the Catalan upper class, with a mixture of realism and satire.

“The film tackles themes of class differences and injustice from a deep and sophisticated perspective, moving away from cliches and easy caricatures,” Faus wrote in the film’s description.

Unlike traditional films, the team behind Calladita funded the film using NFT. This practice has accelerated in 2021 and 2022, with other filmmakers, including iconic directors Spike Lee and Kevin Smithturning to digital collectibles to fund films and drive engagement.

“This movie started as a crazy idea in my mind that maybe I could fund my first feature through an NFT collection, and a few months later, thanks to 500 people on the internet who believed in us and hit our NFTs , we were able to make the movie,” Faus said. “To see him now rewarded by an indie legend like Steven is a dream come true.”

With NFTs, film productions can create unique digital assets and sell them to collectors, investors and fans. Now, instead of just buying a ticket, moviegoers can own a piece of digital cinema history while funding the next Hollywood blockbuster.

“What the blockchain allows us to do is not only determine in a fair and transparent way who most deserves the funding we offer,” Decentralized Pictures co-founder Leo Matchett told a panel. at the Film3 on the Mountain conference, held alongside the annual Sundance Film conference. Festival. “But it also incorporates this incentive behavior mechanism.”

Mike Musante, Co-Founder of Decentralized Pictures, and Rebecca Barkin, President of the Metaverse Platform, joined Matchett for the panel discussion moderated by Decrypt Studios’ Alanna Roazzi-Laforet. Laminate1.

“The use of tokens goes back to, how do you get people to vote? How do you get them to take the time to review projects? said Musante. “So we created a token that gets people to vote.”

Spear in the summer of 2021 by Mike Musante and the producers Romain Coppola and Leo Matchet, with a $50,000 documentary funding award from the Gotham Film & Media Institute, Decentralized images is a blockchain-based platform where filmmakers can submit film proposals, by paying a submission fee in the project’s native token, FILMCredits (FILM).

In April 2022, Söderberg finance the $300,000 grant on the Decentralized Pictures platform. At launch, he told IndieWire that he wanted to see if blockchain movie funding worked. For “Calladita”, it is.

While the world may not be ready to buy a JPEG monkey, the idea of ​​directly funding and supporting their favorite creator may be the spark that starts a Web3 and Film3 revolution, creating a direct connection between filmmakers and their audience.

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