In a notable shift for the film industry, Netflix has officially commenced production on “One Attempt Remaining,” a romantic comedy centered around cryptocurrency. This move marks a significant departure from the mostly negative portrayals of crypto in films thus far, which have often linked the digital currency to criminal activities.
Historically, mainstream cinema has relegated cryptocurrency to independent films, direct-to-video thrillers, or brief mentions that offer a glimmer of futurism without delving into the complexities of the technology. Until now, viewers rarely encountered compelling narratives where crypto played a central role. As Cutter Hoderine, director of the indie crypto heist thriller “Cold Wallet,” pointed out, the cinematic depiction of crypto still feels more like a fringe topic, despite its growing acceptance and integration into finance by authorities and the financial sector.
Leo Matchett, CEO of the Web3 film fund Decentralized Pictures, echoed this sentiment by drawing parallels with the evolution of internet-related themes in films. He observed that as society gradually adapted to the internet, filmmakers began creating narratives around hacking and online interactions. He speculated that cryptocurrency would likely follow a similar trajectory, but noted that its limited practical application in everyday life has restricted its cinematic potential.
In productions like “Cold Wallet,” crypto serves merely as a method of payment, akin to gold bars in classic heist films like “Die Hard: With a Vengeance.” Here, the focus remains on action and suspense, using cryptocurrency merely as a plot device rather than exploring its intricacies. To make concepts like crypto wallets and seed phrases comprehensible to general audiences, filmmakers strive to simplify complex ideas, adhering to established genre conventions.
The thematic landscape surrounding crypto in films has largely been marred by a criminal narrative. Titles such as 2019’s “Crypto” and 2020’s “Money Plane” associate the digital currency with money laundering and illicit activities. Even in mainstream franchises like “Mission: Impossible,” the portrayal tends to lean towards the comedic or absurd, rather than providing an insightful examination of the technology.
Despite the evidence of crypto’s integrations and impacts, portrayals often remain negative. For instance, in 2023’s “The Quiet Maid,” the wealthy characters dabble in cryptocurrencies as a sign of elitism, rather than as protagonists. Viviane Ford, director of the web series “Crypto Castle,” remarked on the crypto community’s struggles with public perception, attributing it to a culture that often celebrates memes and outlandish claims.
Another critical issue is the limited presence of crypto product placement in films. While “Cold Wallet” featured a crypto wallet, Matchett noted that they received no financial backing from crypto firms. This hesitation stems from the often fluctuating nature of the crypto market, which does not align well with the lengthy timelines required for film development.
As audiences become more acquainted with cryptocurrencies, it appears that cinematic portrayals are starting to evolve. “One Attempt Remaining” aims to weave the mechanics of crypto directly into its storyline, indicating a more sophisticated exploration of the technology. Ford’s project, “Crypto Castle,” is also working towards a balanced representation of the crypto community, reflecting more nuanced character development.
Despite the struggles, there is optimism about the future of crypto in film. Matchett expressed hope that as the technology matures, filmmakers will discover innovative ways to include it in mainstream narratives. He envisions a future where crypto plays a significant role in global economics, inevitably finding its way into various cinematic genres, including heist and adventure films.
As the industry navigates this transition, it will be interesting to see how cultural perceptions of cryptocurrency evolve alongside its representation in popular media.
