Chinese film group Alibaba Pictures decided to use technology blockchain. This is to facilitate the distribution of film content. To this end, cooperation with the company was undertaken Breaker, specializing in implementing block chains in the film industry.
Alibaba Pictures and Breaker join forces
Alibaba Pictures decided to use blockchain technology to finance and distribute movies. Support in this area will be obtained from the company Breaker, whose activity is focused on decentralization and democratization of the film industry using block chains.
The first fruit of cooperation will be the distribution of the film "Striding into the Wind"Whose scope is to extend beyond the Chinese border.
To streamline this process, it is planned tokenization distribution rights.
Tokenization of the film industry
The film market is another area in which blockchain technology is used.
In this case, the method of financing the film is of key importance, which in most cases is quite costly.
Therefore, low-budget projects and niche films are difficult to get support.
The solution to this problem is to be tokenization of film productions, thanks to which their creators will get a chance for interest from a larger number of investors, and thus - a chance to implement a film project.
As a consequence, the industry will also become available to smaller investors who previously had no chance to participate in it.
About Alibaba Pictures
Alibaba Picture is a Chinese film group belonging to the holding company Alibaba Group.
It has been on the market since 2014. The company is a producer and distributor of films and television programs.
Her productions include "See You Tomorrow", "Traveling to the West: Conquering the Demons 2" or "Unce Upon a Time".