Mexican director makes movies funded by NFTs

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Photo - Mexican director makes movies funded by NFTs
The film “Sleepers” (Durmientes) is a fictional story about a man and a woman in a coma. This picture is expected to be financed entirely from the sale of the NFT collection.
The future film director, Gibran Bazan, plans to cover all the production costs of the new film using the Metaown platform. This first platform was developed by Mexican entrepreneurs Jorge Cohen, Annie Neuman, and Denise Ledersnyder. It is focused on the Latin American market. Even so, artists, entrepreneurs, and brands from other countries worldwide are working closely with the platform. The director said that this collaboration opens new opportunities for the film industry.

Such experiments have been done before, except for some nuances. In 2021, director Niels Juul, known for the film “The Irishman”, created a project called NFT Studios. The goal of the project is to cover the costs of producing films. The studio’s first work will be “Wing and Prayer”. But it didn’t come without additional contracts and money injections. NFT Investments financed the project for 1 million dollars and will receive a 20% share in return.

Within this project, 1,500 NFTs will be created. Each of the pictures will refer to a character or even a whole scene from a movie. All models will be made in 3D graphics. Some of them will allow the owners to participate in the film’s creation: being present on the set and even appearing in the frame. Both the director himself and artist Gabriel Colin will be involved in the development.

All NFTs will be sold only on the Metaown platform. But, as of now, their price is unknown. The amount needed to produce the film is also not known.