Yesterday the Litecoin Foundation, a Singapore based non-profit organisation set up to support the marketing and adoption of Litecoin, announced it had just embarked on a new partnership with the San Diego International Film Festival (SDIFF).
According to the post on the Foundations website, attendees of the 2019 SDIFF who purchase the 6 day festival pass for the event taking place this October 15–20th will each recieve some Litecoin. The idea being it will expose more people to the technology and its use for payments. These attendees are encouraged to donate their coins to the films accepted in this years festival line-up with a special award and prize going to the filmmaker/film who receives the most.
The filmmaker/film that receives the most Litecoin donations will be awarded with the Litecoin Foundation award on Saturday Oct 19 at the Filmmakers Award Show. The Litecoin award includes an additional $1,000 in Litecoin currency.
Members of the foundation will be present to help ‘educate attendees on the transformative power of Litecoin, assist them with receiving their complimentary LTC’.
Tonya Mantooth, the CEO and Artistic Director of the SDIFF said in a statement on the partnership:
“ Embracing cutting edge digital currency — like Litecoin’s cryptocurrency — allows us not only the ability to explore new technology with our audiences, but also to provide fiscal support to the filmmakers who make our festival possible. We are so grateful that we have the opportunity to collaborate with so many passionate filmmakers who have such powerful perspectives. We want to share those perspectives with our festival patrons, and also provide fiscal support to filmmakers so they can continue telling stories. We are grateful to the Litecoin Foundation for helping us do just that. ”
Charlie Lee, Litecoin’s Founder and the Foundations executive director said in his own statement on partnership
“Mass adoption requires two things: awareness and real world use cases.”
“The film industry checks off both of these boxes in a compelling way. Litecoin has the potential to be a powerful tool for film financing, and by collaborating with the creative and influential people in this space we have an opportunity to introduce Litecoin to millions of individuals across the globe.”
In addition to the sponsorship, Lee has also signed on as an executive producer on a soon to be released film titled ‘We Summon The Darkness’, an elevated horror/thriller set in the 1980’s heavy metal scene starring Alexandra Daddario, Johnny Knoxville, Maddie Hasson, Logan Miller, Keean Johnson, Amy Forsyth and Austin Swift, produced by Kyle Tekiela.
Tekiela is the founder of ‘Common Enemy’ and is credited with involvement in a number of projects, notably his role as executive producer of Academy award nominated film Mudbound. Tekiela has also played a role within the Foundation, volunteering towards their goals.
As part of the partnership, the Litecoin Foundation will receive ‘company credits’ and the organisations logo will be animated at the at the beginning of the film. We Summon The Darkness, according to the announcement is premiering at numerous festivals to ‘rave reviews’.
Lee will be donating proceeds from the film to the Litecoin Foundation. Tekiela said of the partnership with the foundation:
“As a filmmaker, Litecoin and the underlying blockchain technology, opens up tremendous opportunities for the financing of films, the payment of vendors and crew, and the distribution of the finished product.”
“The current banking system of expensive escrows, wire fees, and limited banking times to transfer money is antiquated and cumbersome in today’s digital world. Litecoin and the Litecoin Foundation are forward thinking and actively working to provide solutions to the challenges we face in the movie business.”