This South Korean movie competition might be powered by blockchain expertise

An upcoming movie competition, hosted by the Gyeonggi Movie College, might be held from September 25 to October 4. Not too long ago, the competition introduced its partnership with MovieBloc, a Blockchain-based media distribution platform.

According to Fn Information, the competition’s viewers will be capable to price every movie in actual time in trade for numerous tokens. Attendees might be in a position contribute in different methods as properly, reminiscent of by offering foreign-language subtitles for numerous movies, in return for extra token-based rewards.

The net competition, which was developed in response to the COVID-19 pandemic, often is the first of its variety and will set a precedent for future festivals within the post-coronavirus period. Kang Yeon-kyung, MovieBloc’s CEO, mentioned that he hopes this new mannequin “can coexist with home and worldwide movie festivals and the movie trade.”

In July, a bit of collaborative efficiency artwork consisting of 15 quick movies, was hashed and minted right into a non-fungible token on the Ethereum blockchain.

That occasion utilized a mechanism which rewarded the mission’s contributors every time an asset was offered; the Gyeonggi Movie College will implement an identical concept of their upcoming occasion.

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