Film financing undergoes transformation as Goldfinch teams up with Web3 studio The Squad
In a groundbreaking move, UK-based entertainment financier Goldfinch Studio has partnered with digital innovation specialist The Squad. The collaboration aims to integrate Film3, a concept centred around artists, into Goldfinch's traditional production models.
Goldfinch, renowned for financing over 300 productions and deploying over $250 million, will leverage The Squad's Web3 expertise, generative AI, and engagement technologies. This partnership is an example of the Film3 business model being applied in a new context.
Jordan Bayne, founder of The Squad, will now assume the role of head of Web3 and GenAI at Goldfinch. Kirsty Bell and Phil McKenzie, Goldfinch executives, will provide guidance to Bayne. On the other hand, Bell and McKenzie will take on advisory roles at The Squad.
The partnership is significant as it marks a potential shift in how stories are made and experienced. The Squad will continue to operate as an independent brand under the Goldfinch umbrella.
While specific details about Goldfinch's Film3 concept are yet to be disclosed, the partnership provides insight into how Web3 and AI could intersect with film production. For instance, platforms like Film.io, a separate entity, have developed a decentralized filmmaking ecosystem leveraging Web3 technology. This ecosystem enables creators and fans to participate in decision-making processes, such as greenlighting projects, script selection, and casting, traditionally controlled by Hollywood studios.
Moreover, Web3 financing allows projects to raise funds directly from a global community, bypassing traditional gatekeepers. Smart contracts can automate profit-sharing and rights management. AI can be used in such ecosystems for script analysis, market prediction, visual effects, and even automated editing, further reducing costs and increasing efficiency.
Jordan Bayne expressed that the partnership marks a significant shift in how stories are made, owned, and experienced. Goldfinch executives believe that the industry needs to embrace innovation to navigate the fast-evolving entertainment landscape. The partnership between Goldfinch and The Squad is expected to result in a pipeline of film, TV, and immersive experiences.
This collaboration is an exciting step towards the future of film production and financing, blending traditional models with innovative Web3 and AI technologies.
- The collaboration between Goldfinch and The Squad, with Jordan Bayne from The Squad leading as head of Web3 and GenAI at Goldfinch, is set to revolutionize the finance and production of films, TV shows, and immersive experiences by incorporating Web3, AI, and community engagement.
- With the integration of Film3, Goldfinch's traditional production models will now leverage The Squad's expertise in Web3, generative AI, and engagement technologies, potentially changing the way stories are made, owned, and experienced.
- The partnership between Goldfinch and The Squad is also expected to foster innovation in entertainment finance, as Web3 financing could empower creators to raise funds directly from a global community, bypassing traditional gatekeepers, and smart contracts could automate profit-sharing and rights management.
