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Interview: OracleMovies CEO Senthil Nayagam on the need for an NFT movie marketplace

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Speaking with MediaNama, Senthil Nayagam, CEO of OracleMovies, shared his views on what is currently wrong with India's film ecosystem and how his blockchain-based platform hopes to fix it. You can watch the entire interview or read selected excerpts below. https://www.youtube.com/watch?v=g4Pj-wC4Fno Releasing movies are a challenge for first time producers and veterans While producers all want a theatrical release not only movies get that. For many small, first-time producers releasing a movie is a challenge. During the pandemic, in Chennai alone, over 500 finished movies didn't get released. Even if they manage to get a theatrical release, it will be a smaller screen with lesser seats. So in the current system for movie releases, everything is totally stacked against smaller producers, Nayagam said. Sometimes even when it comes to top guys, releasing movies is not in their control. Everybody is more like a farmer, producing content but not having control over the sales. We believe this can be solved with a marketplace, Nayagam said. Creators must be able to benefit from their work for longer According to copyright laws, the person who creates the content must be able to benefit from it for at least 60 years. But most revenues for movies come from just 30-60 days of the release. Because of this desperation, the creator will sell out the movie fully. I believe something is wrong here, Nayagam said. We should do something to help creators get recurring revenue. The guy who buys the rights makes the money perpetually,…

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