Hollywood jumps on the bandwagon: first film financed entirely with NFTs is on the horizon

 Hollywood jumps on the bandwagon: first film financed entirely with NFTs is on the horizon


The film in question will be made through NFT Studios, a company owned by executive producer Niels Juul, who has worked alongside Martin Scorsese on 'The Irishman' and 'Silence'.

NFTs and the entertainment world cross paths again. Hollywood will have its first feature film financed entirely with non-fungible tokens, proving once again that these digital assets are here to stay. One of the men behind this unique proposal is Niels Juul, a renowned executive producer who has worked with Martin Scorsese on Silence, The Irishman and the upcoming Killers of the Flower Moon.

For this new venture, Juul has founded NFT Studios, and the film in question is A Wing and a Prayer. It is a comedy-drama based on the true story of Brian Milton, the first man to fly around the world in an ultralight aircraft in 1998. It is undoubtedly an eye-catching bet, which seeks financing entirely from the NFTs.

To cover the costs of this production, the studio will release some 10,000 NFTs that will provide benefits to their holders. In fact, the company assures that it already has other "fully developed" projects that will be exclusively accessible to those who contribute to this initiative. The intention is to raise between 8 and 10 million dollars.

As Niels Juul himself told The Guardian, his idea is to "democratize" financing for film productions. "As a producer, my biggest frustration comes from the financial side [...]. Studios mostly make big franchise films, so an independent film can take many years. It's hard to get investors for films and productions, especially in the development stage, with the Hollywood system," he asserted.

A Wing and a Prayer, the first Hollywood film to be financed with NFTs

According to the announcement, the first Hollywood film to be financed entirely through NFTs has already confirmed the director and stars. However, NFT Studios wants to keep the surprise for a while longer; the names will be revealed before the Berlin International Film Festival, to be held next February. Production on A Wing and a Prayer is expected to begin in April 2022, with shooting scheduled in Malta and the UK.

It is clear that those behind the project want to make a splash in the global film market, at a time of great popularity for non-fungible tokens. NFTs have been sold for exorbitant sums in recent times, and while the technology is not without controversy, it seems to have no ceiling.

"Financing a new feature film with NFTs will revolutionize the thinking around film and multimedia content production in the future [...]. I see a huge appetite from NFTs investors for a product like this," said Jonathan Bixby, president of NFT Investments, the company that teamed up with Niels Juul to found NFT Studios.




Elaborado por:
Johan Rodríguez C.I.: 17.300.689
Meysson Trujillo C.I.: 19.494.637
Génesis Martínez C.I.: 22.670.161

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  1. Unknown14 de enero de 2022 a las 8:47


    They have become a hot new financial trend, hailed by some as the gold rush and seen by others as the ultimate bubble, with the risk of investors running out of money. Edgar Pimentel Luis Milla Jose Sandoval Belkis Medina Gustavo Briceño

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