Nolan Bushnell movie to be funded by cryptocurrency
New currency Bushnell Token created to help finance biopic on games industry veteran
The blockchain bandwagon rumbles on, with the makers of the upcoming Atari movie the latest to climb aboard.
Vision Tree has announced it will be running a token sale to raise money for its upcoming film about the life and career of Atari founder Nolan Bushnell.
The firm claims it has turned down offers of financing from more conventional sources in favour of cryptocurrency, asserting that it will enable gamers and Atari fans to become involved in the movie's production.
A new cryptocurrency, the Bushnell Token, has been created and will go on sale in early spring. Those who invest in this currency will receive proportional earnings from the Atari movie's revenues. They will also be asked to vote on decisions such as cast members and which trailers are used to promote the film.
In a statement, Bushnell himself said: "With Atari, a paradigm shift began in the way people interacted with technology. Atari's renegade approach resulted in it becoming the fastest growing company in the U.S. in its time.
"Blockchain represents a new environment that needs to be explored in all its dimensions: games, movies, books, art, etc. It is an innovative approach, fueling economic models and matching support with funding. The idea that we have a new way to fund things is fascinating and powerful."
It's a bold move. A recent study shows that 46 per cent of all projects funded by cryptocurrencies in 2017 have failed, with a further 13 per cent expected to follow as their creators become suspiciously quiet. However, the success rate in the games industry is considerably higher - something the movie makers are no doubt taking courage from.
It will also be interesting to see how well a Nolan Bushnell biopic is received. When the organisers of the Game Developers Choice Awards announced it would be awarding the Atari founder its Pioneer Award, there was backlash from the industry over his history of sexist behaviour.
The awards committee quickly rescinded the proposed prize - something that Bushnell actually applauded.