Illuminart, in collaboration with Rooftop Production and Karlab studios, began production of Plush, the first French animated film funded by NFT.
If this materializes, film distribution is scheduled for the end of 2023. This is the first time a French film has used cryptocurrencies to finance it.
Right “Plush»(plush translation), this animated feature film tells about the teddy bear’s struggle with the ecological community against environmental damage. A militant film that brings together actors, web celebrities and singers in captions. Kev Adams, Camille Lelouch, Louis, Meter Gims and Gerard Damon will voice these 3D characters.
Cryptocurrencies make their movies
This feature film, of which only a few images were presented, has the ambitions of a Hollywood blockbuster. Artists and graphic designers from Rooftop Production and Karlab studios collaborated with Universal to “like beasts», “Everyone on stage», “Minions» or “I am ugly and mean“, Or with Netflix for the Arcane series.
But there are no big Hollywood studios or big French producers to finance the project. Illuminart is counting on the phenomenon of NFTs (non-fungible tokens or non-fungible tokens) to get the more than $ 60 million needed to develop the film.
Become a co-producer “Plush», for NFT bear will have to pay 1250 euros. The characters were first invented by graphic designers of the studios, and then the algorithm generated 50,000 variants of these bears. In Indian costume, soldier’s, screaming or punk looks like many daring versions that Internet users will buy blindly before discovering them in a week or two.
Target 700 million cash fees
The guarantee of this purchase is the speculative nature of these digital works of art. Those interested can sell or buy others on the opensia platform, a kind of online NFT market. For participants, this is an opportunity to see how their teddy bear increases in value if it attracts as many people as possible.
With this purchase, the co-producers with “Plush» guaranteed to share 80% of the profits received at the box office. Illuminart, the company behind the project, has a huge commercial potential: “Since the average profit of major anime films is $ 700 million, every buyer of NFT PLUSH should at least see that his bet is multiplied by three.»he explains in Parisian columns.
An assessment that can be considered very optimistic by Illuminart. In fact, only twenty-three of these films have surpassed the 700 million worldwide box office (excluding inflation), with the greatest animated success of all time, The Queen of Neiges 2, which grossed nearly $ 1.5 billion worldwide. It is also the latest animated film (released in 2019) to cross the 700 million mark.
Bad noise on social networks
From the economic point of view, everything seemed to be planned, but from the artistic point of view it is still unclear. If the plot has already been written, and the characters are represented by graphic designers, then “Illuminart” did not announce either the director or the screenwriter. The latter also suggests that co-producers will be able to manage the script through a voting system. Therefore, it is difficult to predict the rental for Christmas 2023, as announced.
However, Plush is experiencing significant bad noise on social networks. Internet users criticize the speculative aspect of financing, part of which would go directly to production. In fact, even if the feature film is not made due to lack of funding, those who bought NFT will remain simple owners with value in the air, cryptocurrency.
An animated film for children, funded by the giant Ponzi scheme #NFT.
Influencers target children to sell their scam.
This meeting should not be legal. The stars involved in #Plush should be tried for organized fraud
– Marmalade #StandWithUkraine (@Marme_elade) April 28, 2022
Celebrities and, in particular, personalities are also singled out to promote this production system. Some criticize the discrepancy between the eco-oriented synopsis and the use of energy-intensive NFTs and therefore significant carbon impacts.
In France, NFT is gradually taking the place of film financing. The feature film Wing and Prayer, produced by producer Martin Scorsese, has announced the sale of 10,000 NFT to raise the $ 8 million to $ 10 million needed for the film’s budget. In France, director Claude Lelouch supports the Klapcoin project, a cryptocurrency that will fund about twenty films and series.