Demand Film recently announced the launch of its own digital currency called ‘Screencreds.’ These new digital coins launchedcan be seen as the best example of employing digital currencies and blockchain technology waveswithin theindustry. The idea behind Screencreds isto allowcustomers earn anincentivetherby promoting their movie contents globally.
The company ‘Demand Film’ manages stage screenings for films and documentaries on user demand.
The chief executive officer of the company‘David Doepel’ in an interview told that
“Users who watch and share theirtrailerswould likely be rewarded by the company in the form of digital credits. Peoplecan cashtheir rewards ‘Screencreds’ for tickets to Demand Film events,thatmightembodyfilm screenings, meet-and-greet opportunities, and otherevents.”
Adding further he stated that the virtual currency launched by the companywould be listed and madetradable on Australia’s NCX exchangewithin theupcoming months.
Alongside beingrewardful, the company ‘Demand Film’ is also testing outa new feature of using Screencreds to pay royalties to its users.Presently the company isplanninga revenue modelwherefilmmakersmightreceivesome part of theatre ticketsalesthat maybe automatically paid.
Overall, Demand Film thinks their modelarefinancially advantageous for smaller film releases since payouts with Screencred avoid the exchange rates and banking feesrelated toancient bankingtransactional procedure.