Independent film Lotawana has officially become the world’s first movie to ever be sold as an NFT. For some people, the concept of an NFT can be rather confusing. NFTs, or non-fungible tokens, have been on the rise in recent weeks and are now regularly making the news.
Essentially, if something is non-fungible, it is something that cannot be replaced or traded for something of equal value. When applied to the digital world, an NFT is like a bit of code that asserts something like a piece of art or a video is the original product, thus allowing the buyer to own that non-fungible thing. For example, Twitter founder Jack Dorsey sold his first-ever tweet as an NFT and artists like Bosslogic are selling 1-on-1 or limited runs on digital art in except for cryptocurrency. Anyone can download that image, but there can only be one owner of that original.
Emmy-winning filmmaker Trevor Hawkins self-financed and created a movie titled Lotawana. It stars Todd Blublaugh as Forrest, an unfulfilled man who sets out on a journey of self-discovery by living on his boat Lorelai out on Missouri Lake. His time out on the water leads him to free-spirit Everly (Nicola Collie), and as the two fall in love, they are confronted by the challenges presented by their chosen path in life. The question then becomes, “Can they survive, reconnect with nature and rewrite their own rules of modern existence, or will they discover that society operates the way it does for a reason?“
Screen Rant can exclusively reveal that Lotawana has become the first-ever film to be sold as an NFT. Yesterday, Hawkins and his team sold the rights and world premiere of Lotawana on BlockChain marketplace OpenSea.io. 1,000 shares for each were made available, with the rights shares going for $1,000 and the world premiere shares notched at $100. Those who wish to can purchase a portion of Lotawana, thus becoming co-owners of the film along with Hawkins and his team. In a statement to Screen Rant, Hawkins said:
“I am beyond excited about Lotawana being the first film in history to premiere and sell itself as an NFT. It’s the wild west right now. Nothing is certain. But that’s pretty much the way we made the movie, so this feels right.
“We’ve been huge fans of Screen Rant for a long time, so it’s an honor to have them break our historical story!
“We were very lucky to have found ourselves holding a recently completed indie film when this NFT opportunity came along. The timing was perfect and we’re hoping this will help get our story out and ultimately lead to more opportunities to make more films.”
Lotawana is currently available on OpenSea.io for fans to purchase as an NFT. More exclusive content will become available in the future, including posters, photos, and a behind the scenes documentary. In regards to bringing filmmaking to this new digital form, Hawkins said, “We feel like cowboys on a new frontier. It’s hard to believe we’re pioneering a new way for the film industry!“
Films, as well as the way they’re sold and made, has evolved so much over the years that it’s almost inevitable that it has reached this point. The process behind Lotawana is unconventional and incredibly unique, and it will be quite interesting to see where it goes. Hawkins is excited to see what comes next, and for those who love movies, this feels like an interesting new way to get involved with the process. Lotawana is making history, and that’s a pretty exciting thing.
Repost from: https://screenrant.com/lotawana-first-ever-movie-sold-as-an-nft/