KEY POINTS

  • The film will be partially funded by a Decentralized Autonomous Organization (DAO)
  • NFT holders will be deemed as associate producers of the film
  • The story of Ethereum will be retold in terms of market capitalization

Hollywood heavyweight producer and director Ridley Scott and Scott Free Productions have joined hands to produce a movie adaptation of Camila Russo's "The Infinite Machine," leveraging Ethereum technology to fund the film.

The movie will be partially funded by a community treasury using a Decentralized Autonomous Organization (DAO). An NFT collection dubbed Genesis has already been rolled out by the DAO to support the project.

The feature-length film about the Ethereum story will center around Vitaly Dmitriyevich "Vitalik" Buterin and an army of crypto hackers in their journey toward the founding of the world's second-biggest digital asset.

A Russian-born Canadian programmer, Buterin is the brain behind the Ethereum network and was among the few who got involved in cryptocurrency in its early inception. He is best known for his white paper proposing Ethereum. A writer himself, Buterin also founded the Bitcoin Magazine.

Vitalik Buterin - Co-founder of Ethereum, co-founder of Bitcoin Magazine
Vitalik Buterin - Co-founder of Ethereum, co-founder of Bitcoin Magazine Vitalik Buterin

"The Infinite Machine" tells the story of Ethereum in terms of market capitalization, the growth of crypto and the future of the internet. The adaptation will be written for the screen and directed by award-winning film director and creative writer Shyam Madiraju, who worked for movies such as "Harami," "Eden" and "Cake." Scott, Tom Moran and Vera Meyer of Scott Free will produce the film alongside Alejandro Miranda of Versus Entertainment.

"It’s incredibly exciting to have Ridley Scott and the crew at Scott Free produce the movie of The Infinite Machine alongside us,” Russo, the author of the book, said in an interview with Deadline.

"I can’t imagine a better team to turn the riveting story about the people behind the most revolutionary technology since the internet into a feature film that will capture the hearts of our generation," the acclaimed cryptocurrency journalist added.

Apart from Scott, Scott Free Entertainments and Miranda of Versus Entertainment, the DAO will help produce the movie with the team, designating itself to the role of an executive producer.

According to the movie's official website, the proceeds of the sales will be distributed in a couple of stages. The first stage involves the film's budget, which is anticipated to be around $16 million.

The sale from the NFT collection will be equally shared among 36 artists, who will get 22.5 percent of the budget. To fund the DAO, 10 percent of the sales will go to the community treasury pool while the remaining 67.5 percent will be utilized for the movie.

In the second stage, the project will allocate the NFT sale to the artist (22.5 percent), the collection core team and contributors (25 percent) and to the community pool (52.5 percent). NFT holders will be deemed as associate producers and can actively participate in the project. They will also have a voice in the DAO's future projects.

Ethereum was trading down 1.92 percent at $3,015.22 with a 24-hour volume of $363,265,557,606 as of 1:54 a.m. ET on Friday based on the data from CoinMarketCap.

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