Still one of the most profitable independent films ever made, The Blair Witch Project was the game-changer for found footage films. Made on a budget of under $75,000 in the woods near Maryland's Clopper Lake, the story is familiar to any horror fan: a group of three film students venture into the woods to make a documentary about a local legend, the Blair Witch. But things go very wrong, obviously. Many people thought this film was actually capturing real events. The sequel abandoned the found footage gimmick—and sucked.