Why Film Producers Are So Excited About the Metaverse: ‘Everybody’s Dream Can Come True’

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WrapPRO Special Series: From financing to distribution, there’s great promise in the next iteration of the internet for movie producers and fans

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When film producer John Baldecchi describes the metaverse, he doesn’t envision the elaborate virtual worlds and avatars as seen through bulky VR headsets or the visions imagined by “Ready Player One” and Mark Zuckerberg. But he does see the future.

For Baldecchi, whose credits include “The Mexican” and “Happy Death Day,” the metaverse could change the way Hollywood does business and redefine who owns what in the online ecosystem.

The combination of blockchain and cryptocurrency is slowly starting to enable what many see as the true potential of the metaverse, he said. And that will disrupt not just how we watch movies, whether that’s via VR headsets or engaging with others virtually while watching a film, but it will change the process with which movies are bought, sold and financed — as well as who controls the rights to what the next generation of creators develop.