How NFTs promise to revolutionize the movie industry
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HOW THE NFT PHENOMENON IS SHOCKING THE WORLD (4/5) – Funding and distribution projects around these digital tokens are multiplying in the cinema sector.
The term “non-fungible token” (NFT in English) made its entry into the Larousse 2023. If these new technological tools existed before the pandemic, the phenomenon has since grown to the point of reaching the general public… and some excess. However, beyond a fashion effect or a marketing speech, these digital assets are shaping a profound upheaval for many sectors.
The French world of the seventh art has let itself be seduced in recent months by the Hollywood promises of the greatest American producers. Behind the scenes at the Cannes Film Festival in May, Niels Juulexecutive producer of Martin Scorsese, has been touting the virtues of the new funding model for his upcoming comedy-drama, A Wing and a Prayer. The American (director of The Irishman) managed to raise more than $8 million from the general public thanks to the sale of 10,000 NFTs (non-fungible tokens).
Read alsoNFT: digital tokens taking over the sport
A sum much higher than those collected during more traditional…
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