Kinoapp.xyz, a web3 film company that democratizes film and protects artists’ rights, has just announced the launch of its founding membership on 7 September 2022. What makes Kinoapp.xyz or “Kino” stand out from the crowd is the fact that it allows anyone to invest in Hollywood movies. Moreover, it ensures that creators receive proper compensation. Undoubtedly, Kinoapp.xyz will help push the envelope in the film industry with the launch of its founding membership programme.
Co-founders Austin Worrell(left) & Daril Farrin (right)
About Kinoapp.xyz’s Founding Membership Programme
On September 7, 2022, Kino will release 1,000 memberships, where users will be given whitelist access and priority for all future opportunities. Founding members will be invited to the annual Kino Party. Among its attendees, the party will include celebrities, industry professionals, financiers, and other film lovers. The Founding Membership will also offer many perks. These include surprise invitations to online and IRL events, special merchandise and much more.
Kinoapp.xyz’s economic model creates an opportunity for Founding Members to have lifetime access to physical and digital art from movie sets, as well as exclusive online and IRL experiences. In addition, they will be given the opportunity to invest in Hollywood productions with Oscar, Emmy and Golden Globe-winning and nominated talent.
How is this web3 film company protecting the rights of film and TV workers?
According to Kinoapp.xyz, many artists still struggle in a $212 billion industry. There is a process by which studios and corporations can swindle billions of dollars called “Hollywood Accounting.” This reduces the amount the company must pay in taxes and royalties or other profit-sharing agreements.
According to Kinoapp.xyz’s co-founder Daril Fannin, Hollywood Accounting is a persistent problem that is rarely discussed. This practice affects films of all sizes. He pointed out that Lord of the Rings, which had a $281 million budget, grossed $6 billion globally. However, the studio reported a horrendous loss. This meant director Peter Jackson did not receive the 7.5% royalties he was owed.
Kinoapp.xyz, therefore, aims to protect artists’ rights. By doing so, the team hopes to make film and television more equitable for all. The Kino Founding Membership is a clear step forward to bring about a paradigm shift in a traditional industry via Web3. Keep up to date with all the exciting updates Kinoapp.xyz has in store via the project’s official Instagram and Twitter.
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