April 1, 2023

Director Miguel Faus’ innovative approach to funding his feature film “Calladita” by selling NFTs has made headlines. However, Faus has cautioned other filmmakers against duplicating his approach exactly, as the Web3 filmmaking space has already moved on.

“Our mint collection worked quite well, and we were able to fund the movie—but that’s over now,” Faus told Decrypt at the NFT Paris conference. “The space moves so rapidly, that model is gone,” he explained, adding that it’s important for filmmakers to take an open mind, innovate and iterate on what’s gone before.

“This spirit of continuous innovation is very important” to the burgeoning Film3 movement, he said. “It’s important to try things out and learn from what works and what doesn’t.”

As an example, he pointed to the NFT all-access passes created for the film. “We tried to have a very low entry price point so that more people could participate,” he said. “And we learned that people are willing to pay more for exclusive access to content.”

Faus’ approach to funding “Calladita” has been seen as a groundbreaking move in the film industry, and has opened up new possibilities for filmmakers looking to finance their projects. However, Faus’ cautionary words serve as a reminder that the Web3 space is constantly evolving, and that filmmakers must be willing to adapt and innovate in order to succeed.

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