“No Postage Necessary” is allegedly the first ever movie to be released on blockchain technology. Spectators who wish to purchase the film can do so, but with the crypto giant, Bitcoin, as opposed to traditional currency. This is definitely new for the movie industry, and it could possibly revolutionize how movies are sold along with attracting more audiences.
As for the app that one will have to use to watch the movie, it has been identified as the “Vevue”, which is based off of Qtum blockchain. While the movie will accept Bitcoins as a mean of payment, it has been announced that certain locations, primarily Los Angeles and Chicago, will also be playing the movie. This has been done to accommodate those who prefer to purchase tickets and make their way to theaters to enjoy a film.
Based on the movie’s trailer, the story seems to revolve around a computer hacker named, George Blagden, who accumulates his acts of crimes. Upon meeting his “love”, he decides it’s time to change for the better. However, his past actions catch up to him through FBIs, who request him to retrieve stolen bitcoins.
Clearly, the movie will be addressing a common issue, hacking, but with a twist. With most news outlets simply reporting the seizing of hacked goods and the jailing of such criminals, it will be interesting to see a perspective that involves the desire to reform.
The question now becomes whether or not the movie industry can benefit from blockchain technology. Traditional ticket purchases and popcorn sharing is slowly dying, as most consumers prefer convenient and “in the comfort of one’s home” kind of experiences.
Most movie outlets today have membership services, in which one can watch a number of movies daily for a monthly fee. Some include the likes of MoviePass, AMC, Sinemia and Cinemark’s Movie Club, with monthly fees ranging from as little as $9.95 to a little over $14.
Similarly, the development of virtual reality has also made it possible for consumers to watch movies while achieving out-of-this-world experiences. This being said, it could be time to introduce blockchain to movies!