A cryptocurrency to finance the cinema: Sarah Lelouch, the daughter of director Claude Lelouch, on Tuesday launched Klapcoin, a dematerialized asset which aims to involve as many people as possible in the production of films.
“Cryptocurrency is a great way to get the general public interested. I think the public is always right,” Sarah Lelouch, who founded a company dedicated to this project, Diversity, told AFP. French cinema (DCF). She hopes for a first raise of two to eight million euros in one to three months.
This is to allow everyone to invest in this virtual asset, backed up like bitcoin to the blockchain, a register shared continuously between thousands of users, to help finance films and series. And thus bypass the traditional circuits of financing of the cinema.
Investors, professional or not, can expect to see the value of their currency rise, and earn income when the films hit theaters.
“It is about involving the public and making them earn money in a different way. The cinema needs new ideas”. The funded projects will be chosen by a committee of professionals with “an editorial line: the diversity of formats, genres and personalities”, continued Sarah Lelouch, whose father brings his notoriety to the operation.
The latter is a major figure in cinema, with works such as “A man and a woman”, “Adventure is adventure” or “Itinerary of a spoiled child”, but also a singular figure of the 7th art. who has often sought to leave traditional circuits to produce his feature films, recalls his daughter: “I saw him mortgage his houses, fight all his life to finance his films”.
Blockchain and NFTs (“non-fungible tokens”) have shaken the world of culture and entertainment in recent months with projects related to contemporary art, football and even music. In the cinema, cryptocurrencies have already emerged, especially in Hollywood.