NFTs: Revolutionising and democratising the film industry

cnbctv18.com:

After making massive strides in revolutionising the art industry, Non-Fungible Tokens (NFTs) are set to overhaul how movies are being funded and decentralise it to enable NFT holders to partake in the process.Usually, the preserve of certain oligarchs who have created a well-established moat by concentrating power into their hands, a slew of NFT projects are now introducing a global audience to a new way of funding movies and allowing its holders to get an equitable share in the box office revenues.Unlike many other NFT projects that may have little real-world value, these Movie NFTs are a powerful reminder of the seemingly unlimited potential that NFTs have to offer and is proof of what can be achieved when crypto communities join forces to bring about positive change in how businesses function.Arabian Camels, an NFT community that is creating a $50 million Hollywood movie “Antara” based on the life of ancient Arabian knight Antarah Ibn Shaddad, has announced its NFT drop on January 14, with the integration of cryptocurrency exchange MoonPay. The Antara Movie NFT is the first NFT that allows a buyer to digitally part-own rights of the Hollywood Movie, enabling holders to partake in the box office and streaming revenues."The impact that Arabian Camels will have on Hollywood is immense.

This is an exciting and revolutionary move that will inject a whole new lease of life into the movie business,” said Josef Brandmaier, a Producer of ‘Antara’.ALSO READ | How to mint NFTs: A step-by-step guideWhile the basic tenets of these Movie NFTs are like other NFTs, the marriage of both digital and real worlds is what sets these NFTs apart from the crowd. Not only do NFT holders enjoy part-ownership of the content being represented