Kinoapp.xyz Announces Its Founding Membership
The post Kinoapp.xyz Announces Its Founding Membership appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
Kino is financing films differently so that anyone can invest in and experience Hollywood movies while protecting the rights and ownership of its creators.
THE PROBLEM part 1: Hollywood Accounting.
THE PROBLEM part 2: Unprotected Artist Rights.
THE SOLUTION: Kinoapp.xyz and what it brings.
What is Hollywood Accounting? Sometimes referred to as “Hollywood Bookkeeping”, are the terms for the opaque or creative accounting methods used by the film/television industry to budget or record profits for film projects. Expenditures can be inflated to reduce or eliminate the reported profit of the project, thereby reducing the amount the corporation must pay in taxes and royalties or other profit-sharing agreements, as these are based on net profit. Effectively, this means funneling the majority of the profit to the few at the top, leaving the artists (who have invested their time, energy, and intellectual property) without proper compensation. Artists in a 212 Billion dollar industry shouldn’t have to struggle, but unfortunately, most do. Hence the term “Struggling Artist”, is much more colloquially known. Kino is changing this.
Artists’ rights have also been at risk, especially revolving around intellectual property. In the film world, it’s common practice for a studio or network to purchase a script or concept to own the rights to the creative idea. They then have the ability to change, adjust, and claim ownership over that original concept, transforming the idea into whatever they want. Or, claiming that they made the idea in the first place. They have the final say over who plays the part, how the story should go, or if it should ever even be released. The integrity of the original idea can get watered down by executive opinions, who more often than don’t have a personal connection or understanding of the story’s perspective. Kino believes artists should be compensated for the art and ideas they create from conception to execution. Cultivating a platform for a wide range of stories to be told while giving fans of Kinoapp.xyz collaborating artists have a chance to invest, experience, and participate in the movie-making process. The democratization of the film/television industry begins with the transparency of Blockchain.
The first step is the unveiling of the Kinoapp.xyz Founding Membership, launching on September 7th. Founded by Daril Fannin (Writer/Executive Producer who has created films/tv shows with Matt Damon, Peter Berg, & Jimmy Kimmel for Netflix & Disney) and Austin Worrell (co-founder of the fastest growing social impact token that reached over $500M market cap with over 500K holders.). Kinoapp.xyz is releasing 1000 lifetime Founding Memberships, which provide a chance for anyone to access, invest and participate in every future Kino project.
Members can invest in productions consisting of talent who have won or been nominated for Oscars, Emmys, and Golden Globes, collect a piece of digital and/or physical art from the projects (ie. props, costumes), and experience filmmaking from script to screen (i.e set visits, red carpets). They’ll also get “whitelist” (aka: early) access to all Kinoapp.xyz drops, have priority for all future ones, and have the opportunity to attend the First Annual Kinoapp.xyz Party happening Dec 2022 alongside a community of celebrities, industry professionals, financiers & other fellow Founding Members.
“Money is being made (in this industry) but not being given to the people doing the work,” says Co-Founder Fannin. “By democratizing access to film/tv through this new economic model, Kinoapp.xyz is also redefining the fan experience by bringing them in before the movie is made. Members can experience a project from creation to release. “The mission is to protect artists, bridge connections with fans, create a platform for unrepresented communities, and to make some cool shit.”
Become a Founding Member! Pre-mint ends at midnight on Sept 5th and the public sale begins on Sept 7th. Join the revolution.
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