Renowned Hollywood studio Warner Bros has joined forces with Web 3.0 startup Eluvio to develop a special edition of ‘The Lord of the Rings: The Fellowship of the Ring‘ in NFT form. The first-of-its-kind NFT collection is set to go live on the Content Fabric blockchain, which is fully compatible with Ethereum (ETH). The cut included with the NFTs is the extended version of the iconic 2001 movie.
💍Warner Bros. Discover has become the first major studio to sell a bundle of NFT movies with "The Lord of the Rings: the Fellowship of the Rings," which will be released today. The series was developed by Warner Bros. in partnership with Web3 company Eluvio.#Web3 #NFT #ANIMETA pic.twitter.com/RJgMRrU0Zc— ANIMETA (@ANIMETA_NFT) October 21, 2022
A Unique Web 3.0 Movie Experience
The NFTs are scheduled to drop on October 21st, 2022, with each set to include The Lord of the Rings: The Fellowship of the Ring in 4K quality. The movie NFT also includes around 8 hours of never before seen extra footage. Along with behind-the-scenes and AR sets inspired by the film, Gandalf’s staff will come with a special QR code that can be used as a Snapchat filter.
Some of the other perks that come as part of the NFT movie deal include an immersive audio commentary, an additional camera view, and more. Cinephiles will be able to experience the movie from three different angles: the mines of Moria, Rivendell, and the Shire, and there are plenty of unreleased stills of iconic locations from throughout the heroes journey in the film.
The Switch from DVDs to NFTs
The inaugural sale of The Lord of the Rings NFTs will consist of 10,999 NFTs. The movie NFT collection is divided into two tiers. The ‘Epic Edition’ of Warner Bros’ LOTR NFT is set to cost $100, and includes all three aforementioned locations, while the ‘Mystery Edition’ NFT will set movie fans back a lot less at just $30 apiece. However, the Mystery Edition LOTR NFTs will only include one out of the three locations, and does not include the exclusive image gallery.
General Manager for Warner Bros Jessica Schell explained the motive for the studio’s transition to Web 3.0: “We think the initiative has implications as a potential new way to handle movie distribution directly to our fans”. Ultimately, there is a chance that movie NFTs might just become the next big thing in Hollywood, as the sale of physical DVD copies register at an all-time low.
On the Flipside
- The self-custodian storage of the NFTs is rather figurative.
- Warner Bros & Eluvio will maintain full ownership of the intellectual property in the NFT collection.
- Some movie fans argue that the collection offers “the worst way” to watch The Lord of the Rings.
Why You Should Care
The Lord of the Rings series is regarded as one of the most successful and iconic film series ever made, grossing over $3 billion to date. As a result, the NFT debut of the much beloved franchise could well serve to bring more eyes to the Web 3.0 industry
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