Before the spread of COVID-19 in 2019, movie sales around the world raked in over $45 billion. As cinemas shut down across the country due to the pandemic, in 2020, the US market decreased 65.7% from $11.4 billion to $3.9 billion. Since the pandemic has eased and people have adapted to a new normal, the global movie market has slowly begun to bounce back. With the industry booming again, the pandemic has changed the way the entertainment industry operates. Entertainment streaming platforms, such as Netflix, Hulu, and Amazon Prime Video have become increasingly popular. These platforms not only offer convenience and a multitude of options to users but also encourage independent filmmakers to submit their projects and ideas, giving them a chance at the once monopolized entertainment industry. As blockchain continues to make its mark on the financial world, more companies are moving towards decentralized technology to increase their financial security and transparency. However, the decentralized solution to the ongoing problem had yet to be introduced to the filmmaking industry. Decentralizing the Film Industry Built on blockchain technology, MovieBiz Coin aims to decentralize the current film industry. The platform encourages producers, directors, and all players involved in the movie-making business with more opportunities to grow, raise capital and establish their projects, therefore giving them an open door to showcasing thei...
