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‘Durmientes’ aims to be one of the first films fully financed with NFT sales in Latam – News Bitcoin News
“Durmientes”, a new film that will be directed by Gibran Bazan, a Mexican filmmaker, aims to be fully funded by the sale of a series of non-fungible tokens (NFT). The NFTs, which will be sold on Metaown, a Mexico-based NFT marketplace, and designed by artist Gabriel Colin, will feature 3D models that will be linked to the story of the film and will provide benefits to owners.
Durmientes will try to succeed by using an NFT-based financing model
Cryptocurrencies and non-fungible tokens (NFTs) are migrating to other industries that can also benefit from their properties and technology. “Durmientes,” a new Mexican film project that will be directed by filmmaker Gibran Bazan, will produce a set of NFTs that will be sold to raise funding for the film.
The financing team of the film will release 1500 NFTs which will contain some important items in the film’s script. These will be done in 3D art, and will also provide important benefits to their owners, allowing them to help shoot the movie, or even appear in a scene.
Director Gibran Bazan believes that these new technologies could change the financing landscape of the film industry. About this he stated:
Part of this new world and Web3 is going to open up a panorama for creators because instead of big companies having the projects, now it’s the people. It is decentralization of content.
The 1,500 NFTs will be sold using Metaown, a Mexico-based NFT marketplace. But neither the price of the NFTs nor the amount the film has to collect has been shared.
Similar initiative
While Durmientes’ NFT financing initiative is one of the first in Latam, other projects have already tried to tap into the NFT market for financing films. Niels Juul, the executive producer of films such as The Irishman, directed by Martin Scorsese, founded NFT Studios with the same premise last year.
In an interview with The Guardian, Juul stated that his idea was to democratize the financing phase of indie films, a process that can present many difficulties due to Hollywood’s focus on big blockbusters.
Other projects have gone in other ways. Zero Contact, a film starring Anthony Hopkins, was released as an NFT, with copies of the film selling for $90,000. NFT characters from the Bored Ape Yacht Collection will also be featured in the upcoming trilogy of interactive films produced by cryptocurrency exchange Coinbase.
What do you think of Durmientes and the goal of getting financing via NFT sales? Tell us in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons
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