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La DCF Launches KlapCoin: An Accessible Investment Token For Financing Cinema On Tezos

La Diversité du Cinéma Français (LA DCF) is a French movie production company launching KlapCoin.
The DCF was born, with the mission of making cinema funding accessible and facilitating the development of high-quality work that meets audience expectations.

The KlapCoin team are currently at the Cannes Festival to present at several conferences.

In this interview article, we caught up with the La DCF / KlapCoin team to find out more.

 KlapCoin Introduction

La Diversité du Cinéma Français (LA DCF) is a French movie production company launching KlapCoin, using the Tezos blockchain.

The DCF was born, with the mission of making cinema funding accessible and facilitating the development of high-quality work that meets audience expectations.

The KlapCoin team are currently at the Cannes Festival to present at several conferences.

Blockchain and the web3 are revolutionising the film landscape and KlapCoin is part of that process.

The Cannes Film Festival is one of the most prestigious festivals in the film industry and on the fringes of the festival, many conferences and round tables take place.

The project has been founded by Sarah Lelouch (a French presenter, producer, journalist and director who founded Watch’Us Productions). Sabine Tellier (25 years working for major French finance groups including BNP Paribas – the world’s 8th largest bank by assets).  Joël Girod (20 years with BNP Paribas). Fabien Berger (founded the family-owned, Paris-based company Berger et Associés in 2013).

The project is also sponsored by famous French film director, writer, cinematographer, actor and producer Claude Lelouch.

Partners for KlapCoin include: Exaion, Nomadic Labs and Delubac & Cie bank.

The litepaper for the KlapCoin project can be found here.

The KlapCoin project includes two tokens:

KlapCoin: it is a €0.1 denominated Euro-backed stablecoin it is used to invest in the cataloge of movies and it will be used with the ecosystem partners. It is backed by Euro deposits and held by the partner, the first French PSAN bank “Delubac & Cie“.

Lux: it is a governance token for the KlapCoin ecosystem.

It used for the investors to determine rank and associated rewards, to claim rewards, to generate yield through staking. And it will be used for the governance project to participate in project selection and contribute to the growth of the platform.

Total Supply: 2,000,000
Staking APR: 2-7%

The Lux launch token price is fixed to 100 KlapCoins. 

Film Reels

The project is unique in the sense that it democratizes film making and investment. Part of the project includes the use of Film Reels which are packages that receive KlapCoin from investors. This KlapCoin is then used to fund the various development phases of a movie. 

Each Film Reel requires the creator/producer to stake Lux. This remains locked throughout the fundraising period and is then returned in the event of failure or upon final liquidation of the Film Reel.

The creator must stake Lux that will “burn” in proportion to the success of the Film Reel if the soft cap is reached (minimum number of KlapCoin required for the funds to then be released to the project leader).

Each Lux staked increases the hard cap by 1,000 KlapCoin.

To increase interest in their Film Reel, creators can decide to distribute Lux to each investor. This is the case for the 10 DCF Film Reels, each of which contain 100,000 Lux.

The first film reel is named ‘LUMIÈRE BROTHERS’ and includes the development (screenplay finalization, synopsis,
dialogue, etc.) of a catalog of around 50 audiovisual works.

The Interview

Why will KlapCoin be at the Cannes festival?

This year, several themes will be focused on the web3. It was obvious for KlapCoin to participate. We will be present at several conferences such as:

Friday May 20th: World Blockchain Innovation Day | 1st NFT Film Festival

Monday May 23rd: Centre National du Cinéma et de l’image animée (CNC) | NFT and Metaverse: New funding model? New delivery method?

On the 26th of May we will be attending also the Dogami event.

Why is KlapCoin project needed?

Selecting projects that are set to become future hits.

Helping new talent to express themselves by funding the development of their works.

Allowing the public to participate in incubator projects.

Making the viewer an actor in the audiovisual world of tomorrow.

Supporting diversity.

Offering profitable products that meet the expectations of viewer–investors and the audiovisual industry.

Why the name KlapCoin?

It is a reference and uses 2 main notions of movie and cryptocurrency.

Klap is a reference to a clapperboard which is a device used in filmmaking and video production to assist in the synchronization of picture and sound. It is also used to designate and mark the various scenes and takes as they are filmed, and audio recorded.

It is operated by the clapper loader. When sound and picture are out of synchronization, there is a lip flap occurring. And a well-known name in the cryptocurrency world: coin.

Why do you need KlapCoin and Lux?

You need KlapCoin to invest in the catalog movies and it will be used with the ecosystem partners.

The Lux is the governance token. It is used by the investors to determine rank and associated rewards, to claim rewards, and to generate yield through staking.

It will be used for the governance project to participate in project selection and contribute to the growth of the platform.

Why did you make KlapCoin a stablecoin backed by Euros?

This is the first step of our project, we also want to create an ecosystem around entertainment. Make a digitalized euro encoded in the blockchain.

What gives KlapCoin and lux their value individually
1 Klapcoin = €0,1.

KlapCoin is backed by a euro-denominated account; parity can be checked at any time via smart contracts and the website’s transparency microservice.

Lux : Token Launch price = 1 Lux = 100 KlapCoins.

What happens if not enough money is raised?
If we don’t reach the soft cap we will give their money back to our investors.

How do holders specifically benefit?

  • Helps create audiovisual works through KlapCoin.
  • Receives a return on investment based on NFT sales.
  • Is rewarded in line with their level of investment.
  • Is part of a community and votes to influence the future of the projects.
  • Has access to the project catalog (Professional/Producer’s Chair investors).

How do producers/actors benefit?

  • Receives funding for the development of their work.
  • Benefits from the support of a team of experts throughout the creative stages.

How many films have been created to date?
We have only been created in late 2021 so we have made 1 film with the DCF (own founded) and the movies had several prices. But the founders have more than 20 years of experience and some significant figures on our selection committee:

Could you describe the staking element? What’s the purpose?

The purpose is to Is to allow investors who believe in the project to be rewarded with additional returns.

Do actors/producers receive Euros or KlapCoin? If Euros how is that converted?

The project leader who are mainly producers or director will receive euros to finance their movie.

In the long term we aim to be the reference entertainment currency.

Who owns the end productions? Royalties?

There are 2 main ways of working:

If we develop and resell the film this follows the classic process, the investor will have 90% of the net margin in KlapCoin.

And if we have co-production, we are the owner and so are the ticket holders.

Is Lux a utility token? Lux is a governance token.

Do you have any movie theatres on board? We are in discussion with big French or international production companies.

Will visitors to the cinema pay in klapCoin or euros? Yes in the future, it is the one of the goal but one step at the time.

Will you be interacting with the EURL Euro pegged stablecoin with the projects?
Our project is in the real economy and the web3 revolution has not yet affected everyone in the sector. That’s why it was important to be backed by the euro to be able to pay them and also to bring stability to the project.

But the project is also very interesting and profitable for the investors thanks to the Lux, the staking programme and the return from the resale of the films developed.

Why do you need two coins?
KlapCoin is our stable coin backed by euro DEPOSIT and held by the partner, the first French PSAN bank “Delubac & Cie”.

And we need a governance token to give opportunity to the community to vote and to be more involve in the project.

Are NFTs used in any areas of the project?
Yes, the tickets that represent the share of KlapCoins held are equivalent to an NFT and can be resold on Tezos compatible platforms like Objkt.

Thanks to the exceptional technological support of our partners EXAION and TEZOS, we also created NFT Contracts, guarantees to the assignees of the acquired rights thanks to the Blockchain mechanism for any developed movies project.

The NFT becomes a balance sheet asset that can be freely transferred, shared or exchanged.

Why did you choose this method of funding rather than more traditional routes?
Because we believe in web3 technologies and in our project, we use crypto through KlapCoin, but also the blockchain technology with our NFT contracts.

And we wanted to democratize the audio-visual financing project.

Is the KlapCoin ICO live now?

What is the current status of the ICO?

What films/TV Series are in the pipeline?
We have received more than 100 projects film/tv series and we have not launched any campaigns for these yet. 5 of them are very encouraging.

Will there be a particular films/tv series will be focussed on?
Any films or tv series are for the public. One of our key word is diversity (format and type : comedy, action, thriller, fantasy, drama…)

Have any partnerships been formed?
We are in discussion with some big production, but we can’t speak about it yet.

Why use Tezos instead of any other blockchains? Were other blockchains considered?
The choice of the blockchain was very important for us. Tezos has:

 Clean NFTs: 2 million times less energy-consuming than traditional blockchains.

Astonishingly low gas fees.

A democratic and scalable ecosystem for many users

Formal proofs and security.

A strong community of developers and researchers.

We have also created strong connections and a good relationship with Nomadic Labs (At Nomadic Labs, they are working on the core development, evolution, and adoption of the Tezos protocol in France, Luxembourg, and Belgium.

How are the holders engaged with the films being produced? Do they influence films at all?
Of course, they influence films because thanks to the lux they can vote.

For example, the selection committee will be highly influenced if the majority of the community want to see more tv shows than movies.

As the project progresses, the DAO will gradually be put in place and the community will be increasingly involved in strategic choices.

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