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Last week, we used a case study of The Godfather and Vab DAO to demonstrate how #Film3 presents a new way for artists to find funding while maintaining their IP rights and creative freedom. This week, we are continuing this case study, but exploring the opportunity #Film3 has for the viewers. Specifically, giving content consumers a deeper level of participation and allowing them to shape the legacy of their favorite films.
Nothing quite brings fame to a production like winning an Oscar, The Godfather won 3 Oscars in 1973, with double digit nominations. But how did The Godfather receive this high honor? And what participation did the millions of viewers have in shaping its legacy? The Hollywood event is usually an exclusive on-look for film enthusiasts who sit on the side-lines watching from their TV at home. But what if the consumers could have a more direct impact on the awards? Or, help their favorite up-and-coming artists/indie filmmakers get the attention they deserve?
These are a lot of questions we believe #Film3 will solve in the future. So let’s take a look at how the Oscars work and how The Godfather would have been awarded differently had it been a decentralized process.
The Voting Process
We covered what a Web3 version of the Oscars would look like in one of our previous articles.
We specifically noted the voting process which leaves a lot of the decision making to a select few in relation to the total viewers.
“[In 2022] The Academy of Motion Picture Arts and Sciences had 9,427 eligible Oscar voters, a huge jump from five years ago (6,261 voters in 2015). Each person belongs to one of 17 branches. Each branch nominates for its own category — e.g., editors nominate editors, actors nominated for the four acting categories. Everyone gets to nominate the best picture. For the final voting of the winner, all branches vote for everything.”
However, what if the decision to award such a major cinematic work, such as The Godfather, expanded beyond just 9,427 people, but to the 200+ million viewers? Let’s take a look at our example.
Winning an Web3 Oscar — The Godfather
If The Godfather were to be voted on-chain, it could go through a similar voting process with 3 phases.
Phase 1- Nominations
Phase 2- 2nd Round Voting
Phase 3- Awards
With the power of the blockchain, users would submit votes to have The Godfather entered into a short list of films for nomination. The Academy would set certain criteria through the voting process — such as those who worked on the production, watched the entire film and received a POAP, or maybe those who are staking a token to support the #Film3 ecosystem. All votes would be on-chain and awards for participation via NFTs could be issued to keep users engaged.
Once The Godfather makes it to the 2nd round of voting, another round of criteria would be used. Such as the full 9,427 individuals in the original Oscars having a more highly weighted vote category, in addition to influence from public round voting. We described a version of this previously here:
“A usual staking process is required to participate in governance for Oscars3. Lock (stake), Vote, Reward. The more you lock, the higher the reward. — It is also possible for weights to be included depending on experience within the film industry itself. For instance, Tarantino’s votes negatively for Original ScreenPlay but his vote will carry more weight than John Doe from Ireland but if the ScreenPlay John Doe voted for receives more positive, well, Sorry Tarantino.”
When the votes are in from the on-chain data, The Godfather could win a Web3 Oscar. All those who participated will receive commemorative NFTs for the voting experience and will feel the impact of being a part of the voting process.
The benefits are a community of users who not only watch the Oscars for the glamour and allure of seeing the most prestigious stars win awards, but users who feel like they were a part of the process. Having a stake in the voting system, and supporting their favorite works is all about creating a decentralized system that gives any filmmakers the opportunity for success and users to shape their legacy.
Follow us on Twitter and join our film-loving community on Discord. We have tons of resources for those interested in Web3 and specifically Web3 film.
Twitter: https://twitter.com/VabbleApp
Discord: https://discord.gg/vabble
Telegram: https://t.me/vabble
