Recently we heard that Waking Dreams was to be a film that would use the funding of individuals gathered from the Internet. Now a project has started called A Swarm of Angels intends to fund a film with small donations from 50,000 people to create a £1 million budget movie. Not only that but the film will be downloadable, sharable and re-editable, and the people involved really are involved.

Through Boing Boing, the official site tells us its mission:

A Swarm of Angels reinvents the Hollywood model of filmmaking to create cult cinema for the Internet era. It's all about making an artistic statement, making something you haven't seen before. Why are we doing this? Because we are tired of films that are made simply to please film executives, sell popcorn, or tie-in with fastfood licensing deals.

We want to invent the future of film. Call it Cinema 2.0.
To do it we need your help.

They're pushing to the next 1000 Angels mark, and one of them could be you for a mere £25. There's an incentive to be in that first 1000, because after that it's locked down for a while and the development process begins, and you can be in on that, you will have creative input. Along with that comes exclusive downloads, podcasts, collectors edition DVD and some exclusive merchandise.

It's a great idea and wrestles control of movies out of the hands of accountancy obsessed execs and into the hands of the audience, the film fans themselves. I'm considering signing up right now, and I'm adding their blog feed to the Filmmakers Feed List. Another great way to tell Hollywood to sit up and take note.