New Klapcoin cryptocurrency aims to help French cinema find funding

A new cryptocurrency has emerged with the goal of funding French movies. Sarah Lelouch, the daughter of legendary French director Claude Lelouch, introduced Klapcoin on Tuesday. It’s a decentralized blockchain-based asset that aims to involve as many people as possible in its creation.

“Cryptocurrency is an excellent approach to pique the public’s curiosity. I believe that the general populace is always correct “AFP quoted Sarah Lelouch as saying. In the first quarter, she hopes to raise €2.8 million, which she claims will allow everyone to invest in cryptocurrency.

Klapcoin will be used to help finance films and series by using blockchain technology to record transactions. Unlike traditional methods of film financing, investors can anticipate their currency to appreciate in value and generate money once the films are released. “It’s all about involving the general people and getting them to earn money in a new way.
New concepts are required in cinema “”Says Lelouch,” he says.

The projects that will be supported will be picked by a group of specialists who will have “an editorial line: the diversity of formats, genres, and personalities,” she explained. With projects involving modern art, football, and music, blockchain and NFTs (Non-fungible Tokens) have rocked the world of culture and entertainment in recent months.

The future for films?

France isn’t the first country where a cryptocurrency has been featured in a film. They’re especially popular in Hollywood, and they have the potential to change the way the industry is funded in the future. Mogul Productions, for example, is a decentralized film financing (DeFiFi) and non-traditional financing (NFT) network that connects filmmakers, moviegoers, and funders.

There’s also a mechanism where fans may purchase tokens that give them the power to vote on which films are developed. After the United States, France is the world’s second-largest film exporter, and the sector is extremely vital. However, the coronavirus epidemic impacted the country’s film industry hard, with cinemas closing and production halting, as it did in many other countries.

There’s also a mechanism where fans may purchase tokens that give them the power to vote on which films are developed. After the United States, France is the world’s second-largest film exporter, and the sector is extremely vital. However, the coronavirus epidemic impacted the country’s film industry hard, with cinemas closing and production halting, as it did in many other countries.

Image : cryptoast.fr

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