The award-winning film producer Jordan Bayne announced on Monday that Web3 and blockchain technologies provide the artist with a platform to engage their audience. Bayne stated that by adopting crypto technologies, the artist manages to cope with the dynamism in the cinema industry.
He mentioned that blockchain technology could potentially address challenges battling the Hollywood industry. Speaking at the Festival de in France, Bayne asserted that the Web3 technology exhibits distinctive features unavailable in the Hollywood sector.
With Web3, Bayne confessed that adopting these technologies enabled the creator to improve his artistic work.
Importance of Web3 and Blockchain Technologies in Film Industry
Since 2015 Bayne has been making headlines in Film production. After gaining massive interest in the crypto sector, Bayne reportedly leveraged the emerging technologies to launch “Film Squad Media.”
After the launch of Squad, Bayne utilized his vast experience to demonstrate practical strategies that top-rising filmmakers could garner endless benefits from the blockchain and web3 technologies.
In her address, Bayne confirmed that the Squad team had hosted more than 350 shows since its launch in February 2021. Besides adopting Web3 in the film industry, Bayne observed that blockchain technology had been utilized in the finance, distribution and property sector.
She noted that Web3 technology enables an individual to own an IP. Bayne’s announcement outlines the main advantages of blockchain technology in the film industry. She noted that through Web3 technology, there was no need to establish a studio.
The Web3 technology also enables the community to participate in a project actively. Besides the advantages of Web3 technology, Bayne mentioned the advantages of the Squad platform.
She mentioned that the Squad platform had integrated a unique platform that supports other artists to attain their end plan. The developers of the Squad team utilized internet technology to onboard massive users, developers and businesses on the platform.
Among the core features of the Squad, the platform aims to support Web3 to improve inclusivity and acceptance. She was delighted to state that the main objective of the Squad project was to showcase other people’s work and support them to achieve their goals.
How will Web3 Technology Support Marginalized Community?
Initially, Squad was created to demonstrate the challenges facing marginalized communities, including women and members of the LGBTQIA. In her past life, Bayne confessed to facing multiple challenges, referred to as “pain points.”
She stated that Squad was created to boost the quality of life of women, black people and other vulnerable communities. The Squad team plans to feature these vulnerable communities’ “untold” stories in their films.
In her report, Bayne stated that most of her show explores the lives of people stuck in shadows. This implies Bayne has focused on bringing people who haven’t been heard to the limelight.
Regarding some of her completed tasks, Bayne outlined some projects focusing on vulnerable communities, such as the “Red Flags.” In this film, Bayne and the team focus more on the social impact of Web3.
She mentioned that Web3 technology had created fierce competition as every creator seeks to assist marginalized groups. The adoption of Web3 in the filming sector has assisted the marginalized community in protecting their image in the media.
In her final remarks, Bayne explained that adopting web3 and blockchain technologies in the film industry has created a unique method of promoting inclusivity.