Gregg Leonard’s score for Relativity Media’s TRIUMPH is the world’s first movie soundtrack NFT, resulting in unique ownership of a film’s IP.
The latest NFT innovation to go on sale is the soundtrack from the TRIUMPH feature film. Although NFTs have become somewhat more common in recent times, this one is slightly different to others. Not only does it represent more of a direct connection between the buyer and the original artist, but it could also mark a change in how NFTs are packaged within the movie industry in general. It is the world’s first NFT of a feature film score.
Non-fungible tokens have started to become big business following recent sales from high profile individuals and companies. Unlike traditional purchases where a buyer typically receives something physical, or a copy of something digital, NFTs are neither. NFT purchases are different in the sense that they relate to the transfer of ownership of something digital. Specifically, digital ownership on the Ethereum blockchain. Unlike a physical purchase, nothing is shipped nor changes hands with an NFT. Likewise, unlike a digital purchase, an NFT is not a copy of anything. It is, in fact, a unique digital purchase and this is what creates the value for buyers. Not to mention, the approach makes it easy for just about anything digital to be sold as an NFT, including a soundtrack.
Produced by The MAP Group, Digital Ignition Entertainment and Argonaut Entertainment Partners, TRIUMPH stars RJ Mitte and Colton Haynes, and is inspired by Michael D. Coffey’s true story of a high school senior striving to become a wrestler despite having cerebral palsy. Relativity Media, in partnership with United Cerebral Palsy and Cinemark Theatres have confirmed the release of TRIUMPH in theaters today. The movie is also set for release on VOD in June. To coincide with the theatrical release, the movie score NFT has also now been made available to purchase. Composed by Gregg Leonard, the soundtrack NFT provides movie industry fans with the option to own a unique part of the movie-making process.
The score for TRIUMPH is over 80 minutes and not only has an NFT been created and validated for the score as a whole, but also for five separate themes used in the score. The NFTs have been validated by NFT Validator, use the validation engine UREEQA, and represent a first for the industry, possibly paving the way for similar transactions to take place in the future. In Leonard’s own words:
“Whether you own a franchise, a catalog you need to protect, or you are an independent artist who needs to finance your project, NFT minting and validation give you the ability to explore creative options for both funding and creation.”
Repost from https://screenrant.com/triumph-worlds-first-soundtrack-nft-music-rights-ip-blockchain/