October 10, 2023

NFT-Funded Film Secures Global Sales Deal

The Quiet Maid

The Quiet Maid

An upcoming feature film called “The Quiet Maid” has secured a global sales deal after being funded by the sale of NFTs.

The film, a social satire previously titled “Calladita” by Spanish filmmaker Miguel Faus, has sold its world sales rights to FilmSharks, an Ibero-American entertainment firm. The deal was made during Iberseries, an industry conference held this week in Madrid.

The plot of “The Quiet Maid” revolves around a Colombian maid who works for a wealthy and potentially deceptive Spanish family on the coast of Catalonia. The film is based on a short film created by Faus, which Max picked up after it was screened at various festivals last year.

Faus leveraged the 15-minute short film to sell NFT passes to raise funds for a feature-length version of the same story. He was successful in generating a $750,000 production budget via the NFTs. The NFT passes provided their holders with behind-the-scenes access to the film’s production, and they had control over a portion of the film’s eventual proceeds through a decentralized autonomous organization (DAO).

In January, Steven Soderbergh, the director of “Ocean’s Eleven,” awarded Faus $100,000 to complete the film. The award was granted from an on-chain fund established with Decentralized Pictures to assist promising filmmakers in non-traditional film financing methods.

Although Faus is thrilled about using blockchain-backed financing to successfully complete his film, he believes that the technology is limited in its ability to define the artistic quality of the finished product.

“I don’t think any movie success will come from the innovative and decentralized way it was funded.” Faus said, adding: “That was a success in its own right, but now the film has to find its audience and will appeal to them, or not, independently of how it came to exist.”

Author profile

Whether you want to learn about NFT, Blockchain, Web3.0, Metaverse, or any other emerging technologies, we have the vital resources that will enlighten and help you make an informed decision.