NFTs have now infiltrated the gaming industry and are making their way to the movies. An award-winning science-fiction thriller starring Anthony Hopkins will be released using NFTs instead of the theatrical release.
‘Zero Contact’ NFTs To Feature Bonus Content
Zero Contact was produced in 17 countries using virtual media during the Covid-19 pandemic. On September 24, the first 11 digital copies will go up for auction on OpenSea, the largest NFT marketplace in the world. They will also be available on Vuele, an NFT film platform. Because of the unique nature NFTs, buyers have full ownership of their digital copy. They will also be able trade their digital copy on the platform and watch the movie. Owners will have access to a lot more content than what is available on streaming services or in theatrical releases. The film’s theatrical release will be available to the NFT owner who is the first to purchase it.
NFT to Precede Streaming and Theatrical Releases
After the 11 copies that were sold at the first auction, 2500 NFTs will be added to the auction in October. Cameron Chell, Vuele Cofounder, spoke out about the NFT-based distribution.
“We expect deep fan engagement from movie fans or cast and crew. We also plan to expand the NFT buyers’ range to include movie collectors. Both markets will be expanded if the NFT trading and collecting market is integrated into the movie industry.
NFT Films Could Change Entertainment Industry
Similar news: Canadian filmmaker David Cronenberg has teamed up with his daughter Caitlin Cronenberg to release a one-minute NFT film called “The Death Of David Cronenberg” on SuperRare. The NFT has a starting price of 15ETH (or $4500) and will remain up for bidding until Tuesday. Cronenberg wrote the short and his daughter produced and shot it.
Entertainment experts believe that film-based NFTs can be released to allow fans access to exclusive content in a similar way as limited-edition DVDs. This could help to revive fan economies and shake up entertainment with digital collectibles and special edition products.
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.