Warner Bros. gives out a 10,999 NFT collection for extended edition of The Lord of the Rings: The Fellowship of the Ring which will include additional content not found in the DVD version. Hosted on the media-focused Eluvio blockchain, this move is not to be confused with an expensive JPEG buck, but is a compelling use of NFT technology. By owning one of these special editions, fans can forever access the extended edition of the world-renowned fantasy epic along with hours of special edition content without fear of misplacing or damaging a physical DVD.
While NFTs are terribly misunderstood due to the 2021 epidemic of massively overpriced JPEG collectibles and various NFT scams, they are capable of a huge range of functionality. NFTs allow digital content to be stored in a scarce and ownable form that can be traded with cryptocurrency over a blockchain network. So far, hosting exclusive media content through NFTs has been difficult due to the limitations of general smart contract blockchains like Ethereum, as anyone can see and access the link to the media file itself. However, Eluvio is a blockchain explicitly built for NFTs that provides exclusive media content to its owners, while retaining the ability to own and sell tokens on the Ethereum blockchain and tradable on standard NFT exchanges such as OpenSea or Rarible.
As reported by Varietyannounced Warner Bros. a drop of 10,999 NFTs for The Lord of the Rings: The Fellowship of the Ring Extended Edition starting tomorrow, October 21. The collection will contain 10,000 Mystery Edition NFTs for $30 each, and 999 Epic Edition NFTs for $100 each, both of which contain the Extended Edition content found on the DVDs, as well as unique content exclusive to the NFT collection. To participate in the sale, buyers must create an Eluvio blockchain crypto wallet using an Apple or Google account or a Metamask Ethereum crypto wallet and visit the Warner Bros. Web3 premiere page on sale day.
What kind of special content do tokens offer?
Both editions offer access to the Extended Edition version of the film in 4K UHD, along with over eight hours of special features, hundreds of photos and hidden AR collectibles. Additional content includes three explorable locations (The Shire, Rivendell, and Mines of Moria) with location-specific artwork and behind-the-scenes photo galleries exclusive to the token collection. The Mystery Edition offers one of the three locations chosen at random, while the Epic Edition comes with all three. In addition, both editions are fully compatible with the Ethereum blockchain and its decentralized application (dApp) ecosystem.
Thanks to the skyrocketing NFT prices, gone are the days of million dollar profile picture money with little or no actual value to the buyers. Instead, innovation is required when creating and selling NFT collectibles. The end user must get something of value from the purchase at a reasonable price. Warner Bros. seems to understand this situation and is making a bold move into the Web3 space with Lord of the Rings NFT film collection.
Sources: Variety, Eluvio 1, Warner Bros.
