Cryptocurrency Klapcoin is designed to help French cinema find funding.
Filmmaker Claude Lelouch sponsors Klapcoin, a cryptocurrency that helps finance movies, initiated by his daughter Sarah Lelouch, Joel Girod, Fabien Berger and Sabine Tellier through La Diversité du Cinéma Français. The goal is to raise between two and eight million euros in one to three months, so that 15 to 20 films or television series will appear in the coming years. Funded projects will be selected by a committee of professionals and will focus on showcasing emerging talent, diversity and popular formats (comedy, thriller, action).
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“Cryptocurrency is a great way to get the attention of the general public. I think the public is always right,” said Sarah Lelouch, managing director of production company La Diversité du Cinéma Français (DCF). “It’s about engaging the public and getting them to make money in a different way. Cinema needs new ideas. ”
Funding French series and films with Klapcoin
Funding through cryptoassets should counteract the reduction in public funds allocated by the National Center for Cinema and Animation (CNC) or television channels and offer an alternative to other private funds. Backed by the bitcoin blockchain style, a ledger that is constantly shared among thousands of users, investors, professional or not, can hope to increase the value of Klapcoin and generate revenue when movies hit theaters.