NFT enthusiasts, alert! Warner Bros has announced that it is releasing digital movie non-fungible tokens (NFTs) of the iconic 2021 film "Lord of the Rings: Fellowship of the Ring" on its website.
The NFTs will effectively function as an all-in-one digital experience and each includes a 4K copy of the film, hours of bonus behind-the-scenes footage, lots of behind-the-scenes stills, and exclusive AR collectable assets inspired by the film, the company stated.
The NFTs are created by Eluvio, a Web3 company, which is compatible with the cryptocurrency Ethereum.
On its website, Warner Bros says that the multimedia movie experience NFT comes with two options: Premiere Mystery Edition and Premiere Epic Edition.
The Premiere Mystery Edition includes "a surprise interactive location-based navigation menu from one of three film locations (The Shire, Rivendell, Mines of Mona)," while the Epic Mystery includes "all three location-based navigation menus plus bonus image galleries not included in the Mystery Edition."
NFTs are unique blockchain tokens that signify ownership. In this case, a single “Lord of the Rings” NFT gives the holder a license to view the film footage in the same way that buying a BluRay DVD might.
Meanwhile, cryptocurrency prices were trading in red with Bitcoin (BTC) and Ethereum (ETH) falling, along with other altcoins such as Solana, Binance and Cardano, on October 20 morning.
The crypto market cap fell about 1.23 percent to $916.06 billion but its trading volume was down by 17.24 per cent to $44.96 billion, according to data from Coinmarketcap.com at 8.30 am today.
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