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Sitges Becomes First Film Festival Accepting Cryptocurrency

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  • Urvashi Verma
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    The International Fantastic Film Festival of Catalonia in Sitges announced that it would use digital currency

Sitges Becomes First Film Festival Accepting Cryptocurrency
Cover image via u.today
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Sitges became the first film festival to use digital currency for the purchase of tickets and festival passes, Tuesday.

Now more than 200,000 visitors expected to attend International Fantastic Film Festival of Catalonia (Sitges) in October can purchase tickets with near-zero transaction fees that are instantly transferable, the company says.

Mike Hostench deputy director of Sitges says:

“We are tremendously excited to enter the blockchain space at its inception. We have always been known as a film festival that is a leader in technology and in the genre film space including VR, and feel this development is consistent with that tradition.  

The festival, now in its 51st year which hosts horror and fantasy films has featured topliners Oliver Stone, Quentin Tarantino, and Guillermo del Toro, whose film The Shape of Water opened the 2017 festival and won Best Picture at the Oscars.

The ticketing platform uses a Blockchain technology developed by Slate Entertainment Group (SEG) led by Michael Moyal CEO and co-founders Marino Kulas and Cody Hackman.

Michael Moyal CEO of SEG says:

“We believe that one day most ticketing platforms will be powered by blockchain technology. As early adopters of the Slatix ticketing platform and Slate currency, Sitges will be one of the first in the entertainment industry to fully utilize the benefits of this technology.”

SEG has introduced a multi-layered entertainment ecosystem of blockchain platforms including BINGE, a blockchain video on demand platform; SLATIX, a blockchain electronic ticketing application; and SLATE, a blockchain entertainment utility protocol, in recent months.  

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SEG says that the Binge’s blockchain technology is designed to “revolutionize the production and distribution of content globally“ by providing a means for equitable compensation and economic transparency.

The festival which will take place from October 4-14, 2018 in Catalonia, Spain features an annual Zombie Walk, world and international premieres and screenings of horror, science fiction, and fantasy classics.

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About the author

Urvashi Verma is a Chicago-based reporter who writes about the convergence of technology and business. She is interested in fintech, digital currencies, blockchain and currency markets. Urvashi formerly worked with the Times of Israel covering Israel's booming tech industry including Start-Up Nation, venture capital investment, and crowd-funding platforms.

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