Theta Network and The Squad have announced plans for MetaCannes, a Web3 film festival set to run from 16 May to 29 May 2023, to coincide with the Cannes Film Festival. The festival forms part of the nascent Film3 movement that aims to build a more transparent, fair and accessible film industry. The festival will showcase top names in the Film3 media and entertainment sectors and offer access to 25 hours of Q&As, panels, films and shorts. The Film3 movement seeks to build a decentralised, community-driven film industry and promotes the principles of blockchain in creating a more democratic industry. The festival aims to empower creators and dismantle the long-standing power imbalances in the industry. Web3 technology and NFTs may help enable a more direct connection between creators and audiences allowing for more sustainable revenue streams and greater creative control.