Technology has always been an excellent tool for filmmakers. It has allowed us to create new ways of telling stories and reach new audiences. The metaverse is an exciting new frontier for film producers. With the ability to create realistic, three-dimensional spaces, the possibilities for storytelling are endless.
Some pioneering filmmakers and production companies are already experimenting with this new medium’s potential. Besides helping produce some of today’s most popular technology videos, Ideal Insight also explored how the advancement of film technology will transform the industry and create new storytelling possibilities.
Here are some reasons film producers are excited about the future of storytelling thanks to the development of the metaverse and virtual reality.
Increasing the Standard of Storytelling Through Finance, Funding, and Distribution of Films
The film industry is notoriously difficult to break into. Finding finance, funding, and distribution for your film can be hard. The potential for change is real with Hollywood and blockchain.
With the power of this new technology, filmmakers can develop their own movies without relying on banks or financiers; they also have access through cryptocurrencies like Bitcoin, which are less susceptible than traditional loans in late payments.
It provides more opportunities and fewer roadblocks for filmmakers to get their movies made and seen by audiences. Also, it gives a new level of control to the filmmakers, who can now decide how their films are financed, distributed, and marketed. This can lead to a more personal connection between the filmmaker and the audience.
Intellectual property is more than just a story
The film industry is also plagued by piracy and illegal downloads. This has been a major problem for years and doesn’t seem to improve. With blockchain, however, filmmakers can protect their films from being pirated or illegally downloaded.
Intellectual property (IP) is more than just a story, it’s an opportunity to tell the kinds of tales we can’t figure out any other way. The value in this new world isn’t the graphics or how realistic it is, but rather what you can do with the space you create. And that is something that has filmmakers very excited about the future of storytelling.
Film producer John Baldecchi told TheWrap, “The thing that I care about most is how do we take IP and tell stories that we want to tell and not be beholden to other folks who have different ideas about what they want to make”.
The digital arms race is going on between all the major tech companies, and it is only a matter of time before they release their own versions of this technology.
This will open up the floodgates for a recent wave of filmmakers who are not bound by the traditional rules of filmmaking. These filmmakers can experiment with different genres, styles, and formats.
Disney hired a former executive from theme parks in February 2022 as part of its metaverse strategy. The move signals that the company is serious about using the technology for more than just gaming and sees the potential for storytelling in this new medium.
The future of storytelling is an exciting prospect thanks to the evolvement of the metaverse. They are committed to exploring all aspects of this new medium and pushing its boundaries regarding what stories can be told and how they are told.
Filmmakers are excited about the possibilities of what this new technology can do for filmmaking, and they hope that it will lead to a more personal connection between filmmakers and audiences.