Quick take:
- Movieplex collaborated with Cinema Libre to present a full-length NFT movie on OpenSea.
- This movie is part of a new collection in a new movie category on the NFT Marketplace.
- Movieplex was launched in May 2021 during the Cannes Film Festival as a limited edition collectible Founder’s Pack of various movie titles.
Blockchain is revolutionizing intellectual property rights NFTsWhat started out as a blockchain-based digital collection offered in JPEG format has rapidly evolved into a virtually all-mirror marketplace. From music to goods, and now to the movie industry.
In a press release on Wednesday, digital film collectibles platform Movieplex announced a collaboration with Cinema Libre, a dedicated boutique film studio to launch the “first” NFT film on OpenSea.
This is not the industry’s first NFT film. October, global film and entertainment company warner bros has partnered with web3 streaming platform Eluvio to launch the NFT movie The Lord of the Rings: Fellowship of the Rings.
Movieplex is built on the Ethereum scaling protocol Polygon. The platform will allow anyone to verify his ownership of each NFT film on OpenSea, thus creating a new NFT film category in major NFT marketplaces.
“NFTs are the future of watching movies,” said Philippe Diaz, founder and chairman of Cinema Libre Studios.
“When someone purchases a movie on iTunes or Amazon, they only receive a tethered video file. With NFTs, collectors retain resellable assets while also becoming part of the community. Creating a unique link between producers and viewers, buyers receive subsequent elements that are also part of the film’s distribution, such as deleted scenes, interviews with actors and directors, and reviews from festivals. You can a press statement.
The first NFT films from both companies, an environmental documentary feature titled “Phosfate,” a narrative feature titled “Guantanamo Diary Revisited” and “From Iceland to Eden,” are the next two in the pipeline.
Movieplex co-founder and CEO Frank Ramos says video content will be a key factor as the next billion users join web3.
Co-founder Garry Dolley, who helped develop Ramos’ Cinemaplex technology, adds: This makes the Web3 movie streaming business model much more profitable than traditional streaming platforms. “
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