Demand Film, a Cinema-on-Demand distributor based in Australia, has recently launched a new digital currency to offer incentives to viewers for promoting and watching certain movie trailers. They are officially releasing their native digital currency called “Screencreds” which will be given as rewards to viewers who help promote their content and watch it themselves. This launch comes just before the company’s slated launch in Germany on the 21st of August, 2018, Tuesday. This new cryptocurrency that they have come up with is a new addition to the ever-increasingly long list of examples where the blockchain technology has been adopted in the film industry or in video streaming sites, to incentivize the watching experience for the customers.
The main idea behind launching the Screencreds cryptocurrency is to give users a reason, a tangible and lucrative incentive to not just watch their offerings but also promote them.
The company gauges consumer demand to eventually organize theatrical screenings for documentaries and feature films to give the audience a chance to interact with their content.
David Doepel, who serves as the CEO and managing director of Demand Film said in a statement to the Hollywood Reporter that payouts will be given to those who watch as well share the trailers of movies, depending on how many people watch them in total and how many go on to buy tickets after viewing the shared content.
Users will be able to redeem their Screencred earnings to get tickets to events hosted by Demand Films, which could range from usual film screenings to meet-and-greet events. A whole range of VIP events will be made available to users who earn enough Screencreds to get access to them.
Doepel went on to explain that this digital currency they are launching will also become capable of being traded over the NCX exchange in Australia in the near future, as the company tries to make that possible over the coming months.
Besides using it as a means to reward frequent watchers and promoters of their content, Demand Film has also exploring the possibility of using Screencreds to pay royalties too. The revenue model that the organization is trying to develop right now can potentially see filmmakers get automatically paid a part of whatever amount is raised out of ticket sales in the theatre for films screened.