Braid is a film that will make history by being the first horror film fully funded with Ethereum and give its contributors profits for their donations. The earnings from the movie will be aimed at replenishing the collaboration of investors, plus a 15% interest, after which point, 30% of the proceeds will be divided proportionally among the holders of tokens.
This is the second film to be financed through a crowdsale using Ethereum. The first was The Pitts Circus, financed at the beginning of this year. The award-winning crowdfunding platform of ConsenSys, WeiFund, will be used to increase the capital needed to produce the film.
According to Braid’s director, Mitzi Peirone: “Braid is a psychological thriller about two girls who moved to New York to become artists, but who became involved in illegal activities instead. When they run out of money, they decide to go back to their childhood home to steal their oldest friend who has been living in a fantasy world they created as children. To get their money, girls have to take part in their twisted fictional game and descend into a psychedelic hell through role-playing games, violent punishment and eventually murder. ”
Peirone and his production team want to create a more inclusive industry with this new financing tactic. As a rule, filmmakers have two options when it comes to funding their projects: either they ask for funding from Hollywood wealthy people, or they put their project on collective funding sites, such as Kickstarter, Indiegogo, etc. Here, these Producers and filmmakers can receive donations from individuals who are genuinely interested in the project.
Directors can use crowdfunding platforms to fund their films. As is well known, these sites offer guaranteed bonuses for those interested in the project, encouraging them to contribute large sums of money. But these collaborators do not receive any economic incentive; these bonds are usually shirts, merchandise, copies of the product, etc.
When a Hollywood investor finances a movie, producers usually take creative freedoms away from their creators and end up marketing the film entirely, rather than giving directors more freedom.
This is why this project is something more striking. The contributors can be part of the economic benefits of the film by becoming investors and promoters of the film, all while the creators maintain their artistic freedoms.
Braid has attracted the attention of numerous critics and popular media and as a project has won numerous awards including the IndieWire Project of the Day, an Official Selection for Art Basel in 2015, an Academy scholarship for being quarterfinalist in 2016 and also Top 50 in the 2016 scholarship of the International Writers Association 2016.
The team aims to raise a minimum of USD 1.4 million and a maximum of USD 2.1 million on Ether in exchange for 30% of the film’s profits. At the beginning, 100% of the profits will be directed to taxpayers until they recover their initial investment, along with a 15% interest rate. After this, the profits that continue giving the film will be divided in 70/30. This 30% will be distributed in a proportional way among the taxpayers.
The crowdfunding campaign was launched on 7 June, and if you are you interested in this project, you can check it out here: https://campaign.braidthemovie.com/