Non-Fungible Films launch Non-Fungible Token

The film industry is an $18.2 billion business that captivates audiences from the big screen to the mobile phone. Historically, films have been expensive to get off the ground with major studios holding the purse strings.  It would take various parties attempting to garner excitement and then asking for millions of dollars. 

The old way of making movies was essentially a bazaar. You needed to go around the whole town with a cup and you’d end up with whatever you could get.

The high costs made it difficult for independent filmmakers to tell their stories, but today as technology becomes more and more accessible, they have another option—the world wide web.

What is Web3?

The world wide web (Web2) was built on the foundation of websites providing content or media to consumers. The Web3 is something entirely new where websites and digital platforms will allow businesses to connect directly with their consumers. Consumers will be able to create their own version of the content or media that they consume on a daily basis.

Within the last year, we’ve seen an explosion of online activity within Web3 around NFTs. 

You’ve probably seen or heard about NFTs but what are they?

NFTs are what are known as non-fungible tokens. An NFT is a unique digital asset that can be owned, traded, collected, and even used within games.

The initial rush to the NFT market was mainly artists and projects who generate large collections of art. Most recently we’ve seen musicians find entry points into the NFT community as well.  As one would expect, video has now emerged on the scene and there are some very interesting players.

Art Isn’t One Medium

Movie studios have a large foothold in the visual medium due to their long-standing in the community, large network of frens and employees, and lots of large fundraising avenues.  This can create a damper on any teams looking to launch small studios; however, Web3 is beginning to shift the tides a bit. 

Enter film studios providing direct IP ownership and early supporter access via NFT collections.

One group in particular, Non-Fungible Films (NFF), has been making fast moves in Web3 led by Cameron Moulene.  NFF’s mission is to “be a disruptive force in the media and entertainment space in addition to an entry for mainstream IP and Web3.”

In March 2022, I was fortunate enough to catch Cameron between meetings and was able to conduct a deep dive interview as NFF was finalizing early licensing deals with BYAC holders.  Cameron was very candid with respect to the media giants, studios’ extensive budgets in production and marketing, and how NFF is positioning itself in the space to navigate such juggernauts.

Cameron, who has an extensive history in Hollywood spanning decades, spent most of our time describing to me the dichotomy between NFF existing between the fast & loose NFT space and the world of film.  One of the important points Cameron was most excited about was what happens next post mint. Beyond film, NFF is looking “to build or partner with a start-up Creator Studio that will empower Non-Fungible Films NFT holders to self-animate and tell stories with their avatars. We believe this is the next leap in ownership of entertainment and we’re passionate about empowering our community to become self-reliant producers.”

Gregg Sulkin, who stars in Pretty Smart on Netflix, sums up the purpose of NFF in a recent tweet noting “NFF is redefining ownership in entertainment and hopes to empower people to bring their NFTs to life and truly utilize IP rights.” 

NFF and other film studios have found emerging technology providing new funding vehicles for bringing ideas to the screen.  The use of Web3 will expand beyond the ~300,000 NFT early adopters, and requires continued follow-up as the studios find footing with their community and NFT holders.

NFF Background

Here is more information per Non-Fungible Films’ website:

Non-Fungible Films is an emerging player in the NFT space and is poised to be a disruptive force in the media and entertainment space in addition to an entry for mainstream IP and Web3. NFF will become the go-to destination for production studios and content creators that want to interact with this new paradigm.

Non-Fungible Films aims to be a true Web3 entertainment studio bridging mainstream media. The term ‘Web3’ has fallen victim to overuse and has lost any specific meaning, so allow us to elaborate on what it means to us. ‘Web3’ represents the values of Decentralized Finance, Peer-To-Peer collaboration, Community-focused ventures with a concentration on symbiotic growth between consumer and producer, and last but not least, a spirit of undying imagination.

Non-Fungible Films aims to bridge Web3 with Mainstream Media by fostering both industries’ entry into the other. There are endless innovative and growing communities within NFTs that are focused on storytelling but which do not have the skills, tools, and relationships to develop high-quality narrative/lore around their projects. On the flip side, there are equally numerous production houses with established IP who are exploring thoughtful entries into Web3, and what building an organic community around their properties might look like.

We believe that offering IP rights is not enough to be called a real ‘utility.’ Most individuals do not have the skill sets or relationships to navigate story development or marketing negotiations with businesses. We are aiming to build or partner with a start-up Creator Studio that will empower Non-Fungible Films NFT holders to self-animate and tell stories with their avatars. We believe this is the next leap in ownership of entertainment and we’re passionate about empowering our community to become self-reliant producers.

*** Full Disclosure: I was offered an NFF Membership Pass as a friend of the studio.  While I graciously accepted the token of friendship, I will continue to provide news and information about the film industry, Web3, and NFF in the most unbiased way possible.  Good luck Web3 film studios!