Warner Bros. Its first film NFT chose Lord of the Rings for release
Alpha:
- Warner Bros. Home Entertainment (WBHE) is associated with it known as WB Movieverse The Lord of the Rings: The Fellowship of the Ring (Extended Edition) Web3 Movie Experience NFT, a company executive explained in an interview with NFT Now. The film is the first in an anticipated series of Web3 Cinema offerings from the company.
- Starting October 21, 2022, fans can purchase the movie as a multimedia NFT that lets them engage with the film through two dynamic menu options — The Mystery Edition and The Epic Edition, priced at $30 and $100, respectively.
- Created in partnership with Eluvio, a network billed as a content blockchain for the creator economy, the announcement represents the first major studio film release in NFT form.
Why is this important?
NFTs and Web3, in general, do not have a glowing reputation among the general public. A major film studio releasing one of the most popular and beloved IPs of all time as a multimedia NFT experience could do wonders to onboard people into the space and discredit blockchain technology as a whole.
WBHE is aware of this fact. As such, the company decided to make the process as smooth as possible for non-Web 3. Fans wishing to purchase NFTs can do so by creating an Eluvio Media Wallet by visiting web3.wb.com and registering their email address (or logging in with their MetaMask wallet). It works like a digital vault that allows users to stream and purchase content via credit card or cryptocurrency.
“We’re always looking for ways to delight and surprise our movie fans and movie collectors,” said Jessica Schell, EVP and GM, Warner Bros. Discovery Home Entertainment, speaking to NFT NOW. “We have a really rich archive of content and are committed to staying ahead of new technologies. [Buying the NFT] Designed to be frictionless. When you watch the movie, it’s really easy to miss that it’s using Web3 or NFTs under the hood This is for fans of the franchise. It’s not just for early NFT adopters or crypto enthusiasts.”
Includes the full 4K UHD feature film version of NFT’s Extended Edition Ring Fellowship, interactive themed navigation, searchable image galleries, discoverable AR collectibles and more. The Mystery Edition NFT (of which there will be 10,000 editions) comes with one of three interactive location-based navigation menus from any one of the film’s locations: The Shire, Rivendell or the Mines of Moria. Epic version NFT (999 version included) includes three locations, additional interactive image gallery and various other features.
“We’ve developed a unique blockchain-based protocol and network for content that allows content to be stored and streamed in a decentralized fashion, where all ownership is blockchain-controlled,” said Michelle Munson, CEO and co-founder of Eluvio, nft now in an interview. . “Here [film] A Web2 content delivery does not rely on a network such as a CDN or a cloud stack to store and deliver any functions directly from the source. Experience is what is minted as an NFT. It’s something Warners can build on, fans can build on, [in a way] That didn’t really exist before. The underlying technology allows content to evolve. New content can be added, and it can be personalized for the user. Future films may also be released this way as part of an integrated experience.
The Eluvio Content Blockchain provides the technological backbone of NFT releases using a protocol that does not copy digital files and reduces network storage and usage requirements compared to traditional streaming or other content delivery systems. The chain also runs on proof-of-authority compliance, meaning it avoids the environmental costs of proof-of-work processes.
“It’s one of our core IPs,” said Schell of the beloved film franchise WBHE. “We treat the custodianship of franchises with such love and respect for the legacy of these films. We were very careful about the partner we chose and did a lot of due diligence on Eluvio and felt really good about partnering with them.”
what next
The entertainment industry has long shown signs of flirting with Web3 and NFT. In August, Dan Harmon and Fox Entertainment released an NFT collection that allows users to have a say in the creative direction of Harmon’s new shows. In 2021, Anthony Hopkins starred Zero communication, the first feature-length film released as an NFT On the financing side of things, filmmakers are starting to turn to NFTs as a way to raise money for their projects, freeing them from the need to use crowdfunding platforms.
NFTs could upend the streaming industry, changing how fans interact with and own the content they watch. Instead of a passive streaming experience, projects like WBHE’s Lord of the Rings NFT release can serve as a model for other big brands in the space to follow or build on, giving users a more immersive, dynamic experience with the IPs they know and love.
But wait! There’s more:
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