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Rachel Wolfson
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Rachel Wolfson
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Rachel Wolfson has been covering the cryptocurrency, blockchain and Web3 sector since 2017. She has written for Forbes and Cointelegraph and is the host and founder of Web3 Deep Dive podcast.
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Last updated:
August 22, 2025
Hollywood, the world’s oldest national film industry worth billions, faces new challenges as film makers struggle to remain in control of their data, IP rights and financial earnings.
At the same time, moviegoers that once visited theatres to watch films have begun streaming movies at home.
The issues facing the film industry have resulted in declining revenue, along with data being controlled by major corporations rather than content creators.
Fortunately, blockchain technology can solve many of these problems. For instance, movies can now be tokenized as non-fungible tokens (NFTs) and data can be recorded across tamper-proof, transparent networks.
Creator-Led Onchain Platform Aims To Transform Hollywood.
While these use cases are still early, it’s notable that Golden Globe winner and multiple Emmy nominee Ron Perlman recently launched a creator-led financing and content development platform for film and television.
Known as “Watrfall,” the onchain platform allows film and TV projects to be financed, greenlit, and monetized in a transparent, participatory way.
According to Perlman, creators often lose ownership and control of their projects in today’s Hollywood system. He told Cryptonews that backend deals were traditionally a way for creatives to share in a project’s success, yet these have disappeared in the era of streaming.
“Watrfall fixes this by ensuring creators retain creative control and are provided with more direct access to funding,” Perlman said.
Perlman further explained that Watrfall allows fans to become investors, while getting the unprecedented opportunity to vote for the content which they wish to see greenlit. Additionally, IP ownership opportunities allow fans to participate in the upside of the content developed by the platform.
Creators Retain Ownership, Fans Stay Engaged.
Meyenehi Iduwe, CTO of Watrfall, elaborated on this, telling Cryptonews that the platform enables creators to retain ownership and creative control of all film deals. He added that all transactions and revenue splits are recorded on the blockchain, thereby creating an equitable, transparent environment.
“Creators also receive unprecedented access to funding via fan investment on the platform, which fosters a closer fan-creator engagement. Everyone from fans to the cast and crew also get tokenized equity stakes, ensuring everyone involved shares the upside,” Iduwe said.
While this may sound complex, Iduwe explained that Watrfall uses a three-layer data system built on the Polygon blockchain, designed to balance transparency and security. “This includes all the critical information about who funded which project, how much was raised, community votes, and how royalties get paid out.”
Polygon’s decentralized and tamper-proof nature also means that anyone can verify information, which Iduwe remarked is critical for solving the old “Hollywood accounting” problem.
Regarding creative film assets, Iduwe mentioned that elements like scripts, footage, movie trailers, and contracts are all stored on Walrus Protocol, a...
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