Australia’s Demand Film to reward moviegoers with cryptocurrency 21256
News
Ashmita Dutta
Aug 20, 2018 at 6:39 PM

Demand Film, a prominent movie distributor based in Australia has recently released cryptocurrency for rewarding the moviegoers. The rewards are directed towards those users who are engaged in the promotion of movie trailers. The official name of the cryptocurrency launched by the Demand Firm is 'Screencreds'.

This release is prior to the setting up of the company in Germany next week. This endeavour marks another application of blockchain technology and digital currencies in the movie industry. The primary motive behind the release of Screencreds is providing incentives to those who conduct the distributor's promotional and marketing offerings.

Opinions of Demand Film CEO on cryptocurrency rewards

The company is engaged in organising theatrical screenings for various movies and arrange for documentaries that are demanded by the consumers. The news of cryptocurreny rewards is ratified by David Doepel, the managing director and CEO of Demand Film. He has given the confirmation while giving an interview to Hollywood Reporter stating that the cryptocurrency will be rewarded to the ones who would be watching and sharing trailers of movies.

See also: $87 million cryptocurrency theft in China: Highly-skilled hacker trio arrested

The total number of viewers who watch the shared trailers and finally purchase tickets determine the payouts, as per the statement of Doepel. The movie enthusiasts will be able to en-cash the Screencreds for purchasing tickets to the events of Demand Film. The events may include gatherings which provide opportunities for meeting and greeting, film screenings and VIP events.

Doepel also went onto declare that the NCX exchange of Australia will soon be trading this virtual currency. Demand Film is also seeking to utilise Screencreds for making payments to the royalties.Revenue model is the current project of the company on which it is working. In this model, the filmmakers may enjoy a part of the ticket sales which are under automatic payment system.

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Holistically, as per the assumption of Demand Film, the model may prove to be beneficial for the smaller releases on the financial ground. This is because Screencred facilitated payouts do not take into consideration banking fees and exchange rates which are linked to fiat transactions.

Image via Shutterstock

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