×

Blockchain-Based Rights Trading Platform Cinemarket Launches at Cannes

Berlin-based Cinemarket is to use blockchain technology to create a secure and transparent online platform for rights transactions.

Unlike other ventures with mass market ambitions, Cinemarket pitches itself as a tightly curated venue. It aims to put an emphasis on work by emerging directors, adding completed films on a monthly basis.

Buyers can scout for available rights, watch films, submit offers, negotiate contracts and make minimum guarantee and royalty payments through the platform.

The use of blockchain’s Ethereum technology enables decentralized and safe storage of contracts, licenses and transactions, safe from falsification or alteration.

“We want to make it easier for film professionals to make deals online in a secure manner that does not rely on trust, but rather on the elegant verification process of the blockchain,” said Jordan Mattos, co-founder and director of content. “It is a potentially democratizing tool for young filmmakers and industry players of tomorrow who may not be in a position to budget in attendance at all the yearly markets.”

Initial selections include American artist Chris Gude’s experimental road movie “Mambo Cool,” shot in the hills of Colombia; “The Future Perfect,” which won the Locarno Opera Prima award; and post-apocalyptic Brazilian sci-fi fable, “Blue Desert.”

Cinemarket is one of several companies currently launching business-to-business rights trading ventures, some 20 years after similar initiatives in the 1999-2000 dotcom boom. Those largely failed due to under-developed technology, poor Internet bandwidth, and user skepticism. Today, handheld devices, near ubiquitous mobile broadband, and secure systems have removed most of the technological obstacles. That leaves new platforms to compete for business with each other and with traditional offline marts, such as the Cannes Film Festival’s Cannes Film Market.

Last week Singapore-based startup, AllRites Marketplace launched its online platform with a claimed 17,000 hours of mainly Asian TV, sports and film content. It has ambitions to expand to world scale. Another contender, U.K.-based TRX is also already operational. It is currently offering a range of content from major rights owners including Lionsgate.

Cinemarket will be demonstrating its platform at a booth in the Cannes Film Market, part of the Cannes Film Festival.

More Film

  • Pinewood Studios James Bond

    Netflix's Shepperton Studios Deal Is Stretching the U.K.'s Production Limits

    Netflix’s huge new hub at Shepperton Studios outside London is a further fillip for Britain’s booming production sector. Amid jitters over Brexit and its effects on the economy, the streaming giant’s commitment is a vote of confidence in the U.K. entertainment industry and a continuing source of local jobs. But the decision by Netflix to [...]

  • Bottom of the 9th

    Film Review: ‘Bottom of the 9th’

    Nearly two decades after scoring an audience award at Sundance for “Two Family House,” a smartly understated yet deeply affecting indie about a Staten Island factory worker who deeply regrets stifling his showbiz ambitions, director Raymond De Felitta steps back up to the plate with “Bottom of the 9th,” another dramatically solid and emotionally satisfying [...]

  • THE BRIDGE - "Calaca" - Episode

    Endemol Shine Builds ‘The Bridge’ in Africa (EXCLUSIVE)

    DURBAN–Endemol Shine Group has sold the rights to adapt its critically acclaimed and highly popular Nordic Noir detective series “The Bridge” to Cape Town-based production company Both Worlds Pictures, Variety has learned exclusively. The series will feature an all-African cast and will be set around the Beit Bridge border crossing between South Africa and Zimbabwe. Originally known [...]

  • Durban Film Fest 2019

    Durban Fest Hails Film as ‘Conscience of Our Nation’

    DURBAN–When Ros and Teddy Sarkin raised the curtain on the first Durban Intl. Film Festival 40 years ago, the odds were long that their scrappy fest would survive its inaugural edition. The apartheid government and its draconian censorship board had a stranglehold on the films that reached South African theaters, banning the sorts of subversive [...]

  • Tiny: The Life of Erin Blackwell

    Film Review: 'Tiny: The Life of Erin Blackwell'

    “Streetwise,”  the classic and haunting 1984 documentary about homeless street kids in Seattle, is a movie that’s now 35 years old. But for anyone who has seen it, the children it’s about — drifters, hustlers, squatters, thieves, prostitutes — remain frozen in time. And none of them was ever more memorable than Tiny, the 14-year-old [...]

  • Animation Studio Fire

    Revenge May Have Been Motive for Kyoto Animation Arson Attack

    Revenge for allegedly stolen ideas is emerging as a possible motive for the devastating arson attack on Kyoto Animation in Japan, which killed 33 people. Investigative sources quoted by Japan’s Jiji Press said Friday that the suspected arsonist, who is in custody but has not been named, held a grudge against the studio. “Since [the [...]

  • Terminator: Dark Fate Gabriel Luna

    'Terminator: Dark Fate' Cast Proud of Latinx Representation in Latest Installment

    The stars of the Tim Miller-directed “Terminator: Dark Fate” stormed the stage of San Diego Comic-Con’s Hall H on Thursday, but it wasn’t until after the panel — which included appearances from Arnold Schwarzenegger and Linda Hamilton — that Natalia Reyes, Gabriel Luna and Diego Boneta reflected on what makes the upcoming installment in the [...]

More From Our Brands

Access exclusive content