After infiltrating the gaming industry, NFTs is now making its way into film. A sci-fi thriller starring award-winning actor Anthony Hopkins is skipping its initial theatrical release and instead using NFTs for distribution.
‘Ground Zero’ NFTs will feature bonus content
The film “Zero Distance” was shot and produced in 17 countries via virtual media during the Covid-19 pandemic. The first 11 digital copies of the film will be auctioned off on OpenSea, the world’s largest NFT marketplace, on September 24 and will be available for viewing on the NFT film platform Vuele. Due to the unique nature of NFTs, buyers will have full ownership of their digital copies of the film. As a result, they will be able to trade their copies of films on the platform in addition to being able to watch them. In addition, owners will have access to a wealth of additional content that is not available in theatrical releases or streaming services. In addition, the first person to purchase the NFT of the film will receive the added bonus of being part of the theatrical release of the film.
The NFT will be available in advance of the theatrical and streaming release
Only 11 copies were included in the initial auction, with an additional 2,500 NFTs of the film set to be auctioned in October. Speaking about NFT-based film distribution, Vuele co-founder Cameron Chell said.
“We expect to achieve deep fan engagement from fans of this type of film or from the cast and crew of the film. We also expect to expand the [range of] NFT purchasers [to include] film collectors. Bringing the entire NFT trade and collector market into the film space will hopefully expand both markets.”
NFT films could change the entertainment industry
In similar news, Canadian filmmaker David Cronenberg and his daughter Caitlin Cronenberg have teamed up to release a 1-minute long NFT film, The Death of David Cronenberg, on digital art marketplace SuperRare. Collectors will be able to bid on the NFT, which starts at 15 ETH (or $4,500), until Tuesday.The short film was written by Cronenberg and features only him, while his daughter shot and produced it.
Many entertainment experts believe that releasing a film-based NFT would give fans access to exclusive content, much like a limited edition DVD. It could even reinvigorate the fan economy and shake up the entertainment industry with special edition products and digital collectibles.