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NFTs Are Now Looking to Shape The Future Of The Film Industry

Following Marvion’s acquisition of Bonanza Goldfields Corp., it officially announced its intent to to introduce the world’s first hybrid-NFTs (h-NFTs).

The launch is scheduled on the OKEx NFT marketplace on 5 October 2021.

Dubbed “Lockdown”, the global thriller is Asia’s 1st NFT film to star a diverse cast of actors from around the world, including Xander Berkeley (The Walking Dead) and Hong Kong actress Anita Chui (OCTB).

Experts predict that NFT (Non-fungible token) will shape the future of the entertainment industry, giving different perspectives to blockchain investment and contribution.

Marvion and OKEx

The film is scheduled to be released in the UK in November this year, with the UK Premiere screening taking place on October 7, 2021, according to the studio.

Marvion will roll out two limited-edition film h-NFTs and five limited-edition UK premiere h-NFTs on the OKEx NFT marketplace to support the movie production in the UK.

The motive behind Marvion’s choice is because OKChain implements Delegated Proof of Stake (DPoS) consensus mechanism – an advanced and efficient version of the existing Proof of Stake consensus mechanism.

Buyers get a blockchain-stored package of advantage when purchasing an h-NFT for a film, including:

  • ownership of the movie file
  • non-exclusive perpetual worldwide
  • non-commercial, and non-profit license to privately view the film in private premises
  • a copy of the sale and purchase agreement (SPA) granting the license to mint and sell NFTs in respect of the film

Following the viewing, the h-NFT owner would have the option to resell the item under the terms of the agreement.

To celebrate the UK premiere of h-NFTs, each h-NFT will contain two exclusive invitations for its holder to attend the gala premiere, which will include the actors as well as members of the entertainment industry.

Those who purchase tickets will also be able to participate in any subsequent online events and community sessions with the cast and crew.

After the event, the art work of the ticket contained in the h-NFT should be preserved as a valuable memento of a rare, beautiful, and one-of-a-kind experience that should be preserved.

Axis To Launch NFTtoday.tv Channel

Official news from the Axis Technologies Group reveals the introduction of a new channel – the NFTtoday.tv.

The channel will be featured on Roku TV, Apple TV, Amazon Fire and both iOS and Google applications in November 2021.

The purpose of this launch is to show dedication to the growth of NFT entertainment.

That said, the channel will feature a series of NFT-related products, from game tutorials, resources, reviews, films, music videos and other media. In addition to NFT, it also highlights DeFi, digital assets and cryptocurrencies.

Along with the release of NFTtoday.tv, ETHFUND.io also has plans to introduce its first NFT drop for pilot documentary – the NFT Revolution Documentary. The doc is expected to have participation from Hollywood cast.

The first NFT Drop on the ETHFUND.io platform is set to be public on October 18, 2021.

Commenting on these launches, Axis highlighted the significant growth of NFT in the entertainment industry, specifically in cinematography.

“Godzilla vs. Kong” paved the road for growing mainstream adoption. This major movie was a success. The new “Space Jam” movie also tool the spotlight, with 91,000 NFTs accompanied as free and cheap collectible digital cards.

Those first steps opened a door that the other movies wanted to follow in order to get more fan engagement and generate new sales. John Wick, The Hunger Games, and Mad Men will be the next names seeking to launch NFTs.

Overall, it is clear that NFTs have amazing potential, not only in the world of fine art, but also in the media sphere. These early test of the tech will show how well NFTs fit into the industry as a whole.

The post NFTs Are Now Looking to Shape The Future Of The Film Industry appeared first on Blockonomi.

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