The development of Web3 revolutionises how films and entertainment projects are financed. Gone are the days when investors would make high-risk financial decisions on creative productions, with very little inkling of the film’s potential commercial success and investment return. With Lumière’s metamarket, Lumiverse, they can now test the audience’s interests and the impact of their IP at pre-script levels, and even attract new capital through rights tokenisation.
Positioning itself as a trusted metamarket for safer entertainment investments, Cyberport start-up Lumiverse is powered by NFT (non-fungible token) and blockchain technology. The metaverse platform connects media professionals and audiences, enabling them to collaborate on creative projects together. With its decentralised networks, Lumiverse empowers both parties to exchange inputs on productions, providing an immersive experience where passion, creativity, and transparency can flourish. It offers an open space where filmmakers are made truly accountable, and audiences are kept involved and engaged.
As part of its finance solutions for the entertainment industry, Lumière has also developed Elemis, a proprietary software that helps manage capital flows during production and the reporting phase. The app is powered by ERP and can be accessed by all financing participants, allowing them to track all relevant expenses even remotely. The software offers a set of tools focused on facilitating fast production payments, increased transparency for investors, cast and crews, as well as reputation risk management.
The company is supported by Cyberport Incubation Programme and InvestHK, and has just received funding through Animoca Brands, and BRINC’s Launchpad Luna accelerator programme last year. It is currently set to participate in the metaverse development of Versus Entertainment’s crypto film “The Infinite Machine”, slated to be the first-ever NFT-financed film.
