Film NFTs are coming closer to reality. Warner Bros.'s new CEO, David Zaslov, is shaking things up with a slew of show cancellations and going harder into Web3 with the launch of their Lord of the Rings “movieverse” as NFTs, despite their 2021 Web3 failure. Last year, the company dropped its Space Jam collection with tepid results. Apparently, the 91,000-item collection didn’t mint out. However, they believe they’ll have better luck this time with the more relevant and popular IP.
Warner Bros. and their Web3-native partner, Eluvio, plan to create a project with mass appeal to take digital collectibles far beyond the Web-enthusiast niche, allowing LOTR fans “an epic, living media experience” with limited and varying editions of the actual film that come with galleries, special features, AR collectibles, and more. People are skeptical, though, that a “gussied up, browser-based” movie experience is really going to hit with audiences.
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