Martine Scorsese’s executive producer is to make Hollywood’s first feature film entirely funded by non-fungible tokens (NFTs). He promises that anyone who invests in the film will get a profit share. Moreover, will get a chance to meet the stars of the production. Niels Juul has set up a production company NFT studio. The NFT studios are too fun series of films raising money through the sale of NFTS. The producer hopes to sell 10,000 NFTs to public and institution investors. Furthermore, he hopes to raise between $8m and $10m for the films.
‘’We are in the middle of great transition in the entertainment business where traditional ways of film funding and ownership are being uprooted due to the rapid rise of streamers and other digital platforms.’’ He added, ‘’ NFT Studios has developed forward-looking strategies which will be a positive disrupter in the global movie-making industry and which will further shorten the distance between an engaged community of audience and high caliber writers and directors. ‘’
Furthermore, Juul Told the Guardian that getting investors for films is tough especially at the development stage. We want to democratize it. ‘’ He also told that his company’s first film ‘’ A Wing and a Prayer’’ will begin in April.
