SEOUL, Feb. 3 (Korea Bizwire) — With non-fungible tokens (NFTs) rising as a new industry trend, the film industry has also joined the rush to come up with NFT goods.
Local film distribution companies are following suit after Lotte Entertainment launched NFT goods for “Matrix: Resurrection” released in December last year.
The recently released Korean fantasy action blockbuster “The Pirates: The Last Royal Treasure” introduced digital video NFTs depicting the eight main characters with 3D sound.
Another Korean political drama “Kingmaker” unveiled a ‘play poster’ made with various motion effects.
Movie distributors are using NFTs as marketing tools to attract more viewers.
The NFT goods introduced along with the two movies aren’t available for purchase, but consumers can draw lots to win them by buying tickets for the movies.
Other distributing companies are using NFTs not as marketing tools, but as profit-generating merchandise.
South Korean movie distributor Next Entertainment World sold 3,000 pieces of generative art, designed after Korean action flick “Special Cargo,” in just a single second.
They were released on OpenSea, the world’s largest NFT market, purchasable only with Klaytn, a type of cryptocurrency.
“Except for movie theaters and IPTV platforms, there hasn’t been a lot of space for us to put our IP to use,” a film industry official said. “NFT goods combine multimedia content with next-generation technology, an effort to uncover the industry of tomorrow.”
H. M. Kang (firstname.lastname@example.org)