• NFT Films: Is This The Next Big Thing?

  • After infiltrating the gaming industry, NFTs are now making their way to the film industry. A science-fiction thriller starring award-winning actor Anthony Hopkins will bypass its initial theatrical release in favor of NFT distribution.

    NFTs With ‘Zero Contact’ Will Include Bonus Content

    During the Covid-19 pandemic, the film Zero Contact was shot and produced across 17 countries using virtual media. On September 24, the first 11 digital copies of the film will be auctioned off on the world’s largest NFT marketplace, OpenSea, and will be viewable on NFT film platform Vuele. Buyers will have complete ownership of their digital copy of the film due to the unique nature of NFTs. As a result, in addition to being able to watch the film, they will be able to trade it on the platform. In addition, owners will have access to a wealth of extra content that will not be available in the theatrical release or on streaming services. Furthermore, the first person to purchase an NFT of the film will receive the additional benefit of being a part of the film’s theatrical release.

    Theatrical and streaming releases will be preceded by NFT.

    Following the initial auction, which will only include 11 copies of the film, another 2500 NFTs will be auctioned off in October. Cameron Chell, co-founder of Vuele, commented on the film’s NFT-based distribution.

    “We anticipate strong fan engagement from fans of this genre of film or from the cast and crew of the film. We also plan to expand the [scope of] NFT purchasers to include movie collectors. Bringing the entire NFT trading and collecting market into the movie space should help both markets grow.”

    NFT Films Have the Potential to Change the Entertainment Industry

    In related news, Canadian filmmaker David Cronenberg and his daughter Caitlin Cronenberg have collaborated to release “The Death of David Cronenberg,” a 1-minute long NFT film, on the digital art marketplace SuperRare. Collectors will be able to bid on the NFT until Tuesday, with a starting bid of 15 ETH (or $4500). Cronenberg wrote the short, which starred only him, and his daughter shot and produced it.

    Many entertainment experts believe that releasing film-based NFTs will provide fans with access to exclusive content, similar to limited-edition DVDs. With limited edition products and digital collectibles, it could even revitalize fan economies and shake up the entertainment industry.

    This article is provided solely for informational purposes. It is not intended to be used or offered as legal, tax, investment, financial, or other advice.

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