Bottle ShockWeb3 embrace has taken the stage once more with the famous Bottle Shock. Unclaimed Freight Productions and Randall Miller are back with an ambitious project: to adapt the adored Sundance hit “Bottle Shock” starring Alan Rickman, Chris Pine, and Bill Pullman into an animated musical spectacle.
The esteemed 2008 film will be reimagined as a hand-drawn animation, and fans will be able to fund the production and hold fractional ownership of the film via the web3-based crowdfunding platform Funded.
Bottle Shock animated remake embraces Web3
To commemorate Bottle Shock’s 15th anniversary, it will be remade as a hand-drawn 3D animated film. Bottle Shock is widely regarded as the greatest wine film of all time. The animated adaptation will be funded by Funded, a decentralized crowdfunding platform developed on the Internet Computer blockchain (ICP) — the fastest general-purpose blockchain in the world.
Filmmaker and animator Michael Davis said:
The original Bottle Shock has aged like a fine wine, and its 15th anniversary gives us the perfect reason to reimagine a timeless story for a new generation. This represents a fantastic opportunity for movie lovers to be directly involved in financing a hit feature film.
Michael Davis
Funded uses an “all-or-nothing” model of crowdfunding to secure project creators and backers and guarantee the success of every project. The initiative must reach its funding target within 30 days. If not, all funds will be returned to backers automatically.
The Bottle Shock film is quite popular and is available on multiple streaming platforms. The film grossed $4.7 million domestically in the United States, millions on home video, and millions on Netflix/Amazon Prime/Paramount.
The film grossed $2.5 million on airlines alone, making it one of the most profitable independent films ever. Currently, Bottle Shock is being adapted into a Broadway musical (which debuted last month in San Diego), and a board game is also in the works.
How does the funding work, and the benefits?
The remake of Bottle Shock is the most recent instance of crowdfunding via NFTs, a revolutionary new funding model for creative endeavors. Other recent films financed through decentralized finance include the psychological thriller Fuzzy Head and Prizefighter, starring Russell Crowe.
The remake begs a beautiful idea, but there is a twist. The movie producers have turned to the people to finance the project.
The target amount is $1.5 million in Ethereum. With each contribution to the project, you will receive non-fungible tokens (NFTs) representing a portion of the film’s ownership. The production promotes the notion that this is more than simply supporting a project; it is becoming a part of its legacy and benefiting from its success.
The crowdfunding of the Bottle Shock remake is yet another illustration of NFTs’ incredible utility, with the potential to revolutionize financing for all kinds of creative projects [..] Thanks to Internet Computer and Funded, anyone can build secure, affordable, and global crowdfunding, based on fractional ownership that automatically pays returns to participants, creating real value for users.
Luke Dugdale, CEO of Funded
After the film is profitable, 50% of the revenues will be distributed to crowdfunders and other equity investors. Meanwhile, anybody who contributes $20,000 or more will be recognized as an Executive Producer.
These tokens will be marketable, and if the film is profitable, all NFT holder wallets will receive their dividends in the form of an ETH payout immediately.
What will each participant receive? Investment in equity. Pro-rata and on par with the other investors. This means that the owners (crowdfunding participants) and any other equity investors are paid back.
Miller’s preferred crowdfunding platform, Funded, is an alternative to centralized crowdfunding platforms such as Kickstarter and GoFundMe. The platform, which operates only on the Internet Computer blockchain, uses NFTs to provide funders with physical “proof of ownership” in the projects they support.
This strategy has the potential to be effective for both equity and rewards-based crowdfunding. Writer/producer Jody Savin adds:
Not only is this an exciting new form of funding that challenges the decades-old studio model, but it also gives cinema-goers a direct emotional and financial relationship with a film — as well as the chance to participate in the profits.
Jody Savin
What is the timeline of production? The film will take 2 years to produce from the point where funds are collected, to begin with development. The rewards are categorized in sections:
1. Tier 1: 0.018 ETH(3,500 units)
2. Tier 2: 0.307 ETH (500 units)
3. Tier 3: 0.932 (300 units)
4. Tier 4: 3.075 ETH (100 units)
5. Tier 5: 12.307 ETH (10 units)
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