Ellen Britt for CNT #NFT
Movie and TV merchandising, which includes sales of such collectible items as movie posters, ticket stubs, director’s cut special DVDs, and so forth, is a huge source of extra revenue for movie studios and is expected to grow by a whopping 79.07 billion dollars by 2025!
Remember how the rise of streaming services quickly eclipsed DVD? Well, NFTs are now poised to do the very same thing in the movie collectible market.
On A Wing And A Prayer
First of all, Niels Juul, who was the executive producer of Martin Scorsese’s The Irishman, is planning to make the first Hollywood feature film, A Wing and a Prayer, to be fully funded by NFTs.
His production company, NFT Studios, is raising 8 to 10 million dollars for the film by selling 10,000 NFTs, which included an actual share of box office profits, a visit to the film’s sets, and the opportunity to meet the cast as well as get an invite to the premiere.
The Indies Have It!
Independent film studios, known as “indies” usually have to take a long time, sometimes as many as eight years to complete a project. This new funding model should help smaller projects without big budgets not only get launched but drastically cut the time it takes to get their films into theaters or streaming to customers directly over the web.
Move over Warner Brothers!
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