“Calladita” is a film that was financed through NFTs and now took first prize at the Sundance Film Festival. It was directed by Miguel Faus and was supported by independent artists.
Calladita is a film that won the first prize at the Sundance Film FestivalThe particularity of this film is that it was financed through different collections of NFTs that the same users and investors who supported the project were minting as the months went by. The NFTs provided exclusive experiences and benefits for their owners and also helped this film to develop in an optimal and successful way.
It was directed by the director Miguel Faus and is a film that explores the themes of class differences and injustice from a nuanced perspective. It tells the story of a young Colombian woman who works as a maid in a summer mansion on the Costa Brava. While the family she works for is on vacation, she meets her colleague Gisela, the maid in the neighboring house, and together they learn that perhaps they can also find their own ways to enjoy the summer.
The main cast is composed of Emily Mortimer, Antonio de la Torre, Susana Abaitua y Paula Grimaldo.
The fact that it was financed through NFTs shows how the film industry can also benefit if there is a good project behind it and things are done in the right way.
The NFT collections that were offered for sale during the filming of this feature film consisted of 4 levels, each offering more benefits and exclusivities than the others.
The level 1 (worth 0.18 ETH) contained a 1:1 still image in NFT from the original short film released in 2018 and the benefits were:
A private link to watch the full movie.
The name or ENS of the owner in the film credits.
Access to a private Discord to see the process and step-by-step of the creation of the film.
Governance over the next CalladitaDAO.
The level 2 was worth 0.6 ETH and was a NFT video of a complete scene from the original short film, Calladita. The benefits were:
Invitation to the Meta-premiere of the film.
Live Q&A via a virtual call with the cast and crew of the film.
All the advantages of level 1.
The level 3 was worth 3 ETH and consisted of a 1:1 NFT of a video taken during feature film rehearsals. Owners of the non-fungible token had the following benefits:
One associate producer credit.
Invitation to the set of the cast and crew farewell party.
All the benefits of levels 1 and 2.
The level 4 (6 ETH value) had a 1:1 NFT from a video taken during testing and the advantages it provided were:
NFT Mint-pass for a 1/1 photograph taken during the shooting of Calladita.
1 of 5 pieces of physical memorabilia from the film, including costumes, props and artwork.
NFT owner’s favorite avatar in the film’s credits.
Includes all the utilities and benefits of levels 1, 2 and 3.
With the launch of these NFT collections at different levels, benefits and values, Calladita was able to finance the feature film with a total value of 750,000 euros and Faus confirmed that it was made possible thanks to the support of more than 500 Web3 moviegoers who purchased the NFTs.
The award at the Sundance Film Festival is called “Andrews/Bernard“and was awarded by the renowned director Steven Soderbergh and the platform Decentralized Pictures. As a result of winning this award, the feature film was awarded the sum of $300,000 in funding, which is distributed in three different rounds of $100,000 USD each.
Soderbergh spoke about the award-winning film and said that it was a pleasure to give this recognition to a feature film that was shot 80% independently. Miguel Faus also spoke about this award and said that he is proud to have received the award from an independent film legend like Steven Soderbergh. He also added that this is just the beginning and that he will continue working to finish the film as it deserves, driven by Steven’s recognition and advice.
This is the second feature-length fiction film it has financed as NFT, but it is the first project to be made on European soil. In addition, part of the success was thanks to the fact that the film stems from a previously award-winning short film, which served as a proof of concept to allow the entire Calladita team to create a 1:1 NFT collection around all the previously completed material and work.
It also had its good consequences, as it raised the funds for the film and proved that with serious work, the worldwide film community can be part of the filmmaking journey and at the same time get unique benefits and exclusivities by acquiring a special NFT. To conclude this article, hopefully this is the beginning of a new utility of non-fungible tokens in this industry that contains top-down organizational structures, with extreme centralization and many layers of intermediaries. May this next generation of the media industry driven by blockchain technology and digital communities can be a gateway for many freelancers, who seek to have the same possibilities as centralized media.
All investment or financial opinions on behalf of NFTexpress should not be taken as recommendations. This article is informational/educational material. Before making any type of investment do your own research.
Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.