While at the Outer Edge LA 2023 Conference in Los Angeles, Blockchain Journal technical analyst Bob Reselman interviewed the co-founder and CEO of Decentralized Pictures, Leo Matchett. Decentralized Pictures was founded on the principle that blockchain can be used to democratize the process of creating and approving ideas (everything from scripts to talent choices) for TV shows and movies.

As opposed to testing piloting production ideas with small audiences, Decentralized Pictures makes it possible for Hollywood studios to test market ideas with larger audiences by using blockchain to financially incentivize reviewers via smart contract-managed compensation. Calling it the "opposite of crowdfunding," Matchett says studios can get a massive amount of feedback on audience resonation before making huge investments in production.

The system works for the financially incentivized reviewers as well because of how they're scored based on their review history. As a reviewer's score improves, so too might their opportunities to derive more income from the platform.

To watch the video version of this podcast or read its full-text transcript, go to: https://blockchainjournal.com/interview/decentralized-pictures-looks-democratize-hollywoods-ideations-blockchain/

The video can also be watched on Blockchain Journal's YouTube Channel at https://youtu.be/R4MZOANHolI