How royalties help visionary artists find community

In 2020, artist JN Silva was in a clubhouse talking about NFTs and royalties when a prominent late 60s psychedelic artist in the room asked to speak. According to Silva, he shared, “I just stumbled into this room. I had no idea what was going on. But this would have single-handedly changed my life if it had existed when I was creating art.”

The artist, whom Silva did not name, sold pieces throughout the ’60s and ’70s during what he called a “prime period.” Today, however, his works are sold for millions, but due to the nature of physical artwork, he hasn’t seen a dime. “Imagine if I had received royalties from all these works,” the artist told Silva, “I would have the mental freedom to continue practicing my creativity and not have to fight against an earlier version of myself.

This emphasis on the importance of royalties, and the way they can offer ongoing opportunities to artists, was a prominent thread during the Gateway panel “The State of Film NFTs” with Silva, filmmaker Nelson G. Navarreteand filmmaker Julie Pacino 1 December 2022.

Royalties should “never go away”

In the past, indie filmmakers have turned to traditional crowdfunding platforms such as Kickstarter to secure project funds. From critically acclaimed action comedies such as King Fury to award-winning horror films such as The Babadook, crowdfunding has helped many cult classics come to fruition. However, with the rise of NFT technology, some filmmakers are abandoning these platforms in favor of Web3 collection capabilities.

Pacino, for example, made history as one of the first to finance a film with NFTs. The director worked to finance her film I live here now through an NFT project called “Keepers of the Inn”, which consisted of 3356 photos she took during the rehearsal process.

One of the main reasons Pacino chose to turn to NFTs was because of royalties. During the panel, she emphasized the importance of royalties, saying they “should never go away” – and that they don’t just benefit the artist. “[Royalties] is exciting from a collector’s point of view because if [I]the artist, [am] sell you some work and then I go and hustle and raise my value, then you are [also] will benefit from it, she said.

But royalties aren’t the only reason directors and producers are turning to NFTs—they also offer a new way for filmmakers to connect with audiences. “It’s very valuable to connect with people who are interested in your work before you’ve even shot the film. It is a miraculous thing. They can inform the creative process and help you further your vision,” explained Pacino.

A film under construction in Web3

Although the panel may have passed, fans of Film3 still have the opportunity to see Navarrete and Silva share some of their work on December 2. Co-directors Navarrete and Alex Ulises host a screening of their documentary Idiosincracia Latina along with “NEA”, the teaser for Buscando América – “a fiction film under construction in Web3” that Silva executive produced.

The film explores the history of the 16 municipalities of the Colombian city of Medellín, aiming to represent the true realities of the area that are not often reflected outside the country’s borders. And the community is at the heart of the entire project.

“The social impact we want to have, not only with Web3, but accompanied by Web3, is to provide some tools in the municipalities we visit, where we find these actors who will participate in our film, where we can teach production workshops, performance workshops and web3 -workshops where we learn how to use certain tools for this technology that is new,” Navarrete added Voice of America.

In addition to the local population, the filmmakers also hope to pave the way for other creatives in the Web3 area. “Our main motivation is to build the infrastructure that helps new filmmakers tell their stories […] without having to go through the structures that are traditionally difficult, said Navarrete.

And this is where the magic in the room lies, and what can (hopefully) lead to a new creative economy where these artists have exactly what the psychedelic artist from the 60s was striving for – the freedom to exercise creativity without barriers.