The “Lord of the Rings” film franchise is moving on-chain with the launch of a new Web3 movie experience.
Warner Bros. Home Entertainment, the production company behind the fantasy film series, is releasing a non-fungible token (NFT) collection tied to the original “Lord of the Rings: The Fellowship of the Ring” movie. The interactive experience is currently available to preview and will be open for purchase beginning on Oct. 21.
In partnership with Eluvio, a utility-focused blockchain aimed at enabling the internet for video, the launch will encompass two NFT tiers – the “Premiere Mystery Edition,” which has 10,000 collectibles priced at $30 each, and the “Premier Epic Edition,” which has 999 collectibles priced at $100 each. Each NFT allows collectors to watch an extended version of the film, access special features and discover augmented reality (AR) collectibles.
This is the first drop on the new WB “Movieverse” marketplace and is a part of Warner Bros.’ larger effort to tokenize major motion pictures in its archives.
“This initiative has important implications as a potential new way to handle movie distribution directly to fans; engage those fans through communities and tradable marketplaces; and demonstrate the practical utility of Web3 and NFTs,” Jessica Schell, executive vice president and general manager of Warner Bros. Home Entertainment, told CoinDesk.
While Web3-native entertainment has been on the rise in projects such as Mila Kunis’ “The Gimmicks” or Kevin Smith’s upcoming film on the “Secret Network,” Warner Bros.’ latest initiative may re-engage a community of fans through new Web3 technologies. The entertainment company also recently partnered with pop culture retail brand Funko to offer a physical and digital comic book collectible.
"It's truly designed for a mass consumer audience, not just Web3 enthusiasts, which is why it should – and does – feel so remarkable and engaging,” said Michelle Munson, CEO and co-founder of Eluvio.
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