Discover Myco’s Community Film Funding Program on the Watch-and-Earn Platform
Filmmakers seeking funding to bring their projects to life now have the opportunity to apply for Mycolab, a community funding program offered by Myco, the token-driven watch-and-earn platform.
Launched recently, Mycolab allows creators to submit project proposals for consideration by a panel of industry judges. The program will select and vet 30 projects, out of which ten will be chosen and presented to the public for the funding drive.
If a final project can raise 35% of its target budget through crowdfunding and its own networks, Myco will provide the remaining 65% of the funds. Following completion, these projects will premiere exclusively on the Myco platform, which rewards both viewers and creators with MContent crypto tokens.
The Mycolab Funding Process
Mycolab is accepting proposals from filmmakers until November 5th. During the funding process, users can contribute using either cryptocurrency or fiat currency. Participants in the funding campaign may receive special perks associated with each respective project, such as early access to the film or exclusive merchandise.
This initial phase of Mycolab is geared towards short films, with an expected budget range of $5,000 to $20,000 per project. In the future, the program may expand to include larger-scale projects. The industry judges overseeing the selection process for this cycle will be announced in the coming weeks.
Myco’s Film Distribution Strategy
Beyond the initial premiere window, Myco aims to bring the funded content to other platforms, generating further revenue for creators while expanding the reach of the Myco brand. Additionally, Myco plans to support filmmakers in festival submissions, increasing exposure to industry tastemakers.
Myco co-founder Phil McKenzie highlighted the platform’s intention to help projects reach wide audiences, stating, “We want these filmmakers and projects to go as far and wide as possible.”
With over 1,000 hours of premium content, 300,000 user-created videos and podcasts, and live sports coverage, Myco offers a diverse range of entertainment options. Mycolab is an expanded version of the previous Myco program known as MSeeds, which funded five projects.
The Film3 Movement and Decentralized Funding
Mycolab is part of the broader “Film3” movement, which focuses on utilizing decentralized technologies like crypto tokens and NFTs to fund film projects and provide users with a say in the creative process. This launch coincides with ongoing strikes by Hollywood writers and actors against studios and streaming giants.
McKenzie emphasized the need for change in the film industry, stating, “Something’s broken here. There’s gotta be a better way of doing this.” The movement aims to challenge the dominance of centralized film gatekeepers and empower filmmakers and creators.
Editor Notes: Support Myco and Stay Updated on Crypto News
Myco’s introduction of Mycolab represents an exciting opportunity for filmmakers to receive community-based funding for their projects. As the film industry undergoes a transformative period, decentralized funding initiatives like Mycolab have the potential to empower creators and challenge traditional financing models.
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