Warner Bros released NFTs through a collection called “The Lord of the Rings: The Fellowship of the Ring” with the help of web3 company Eluvio.
Warner Bros created the first NFT collection tied to the great “Lord of the Rings” movie trilogy together with blockchain company Eluvio. The project is called “The Lord of the Rings: The Fellowship of the Ring” and collectors will be able to obtain an NFT related to the film trilogy produced by Peter Jackson.
Warner Bros, Home Entertainment developed its first web platform3 called WB MOVIEVERSE with the help of Eluvioa technologically advanced, decentralized platform for Internet content. The development company’s goal is for users to own their content and data, easy to use, high performance and super efficient (referring to resource consumption).
Regarding the NFT collection, the Web3 Movie Experience will be available in two different editions, which will be released starting Friday, October 21. Warner announced it as the first time a studio has released a movie as NFT, which have unique identifiers that verify ownership of the digital content.
The first edition will be called “The Fellowship of the Ring” and will be available within the “WB Movieverse” website. The upcoming NFTs collections are yet to be named, but Jessica SchellWarner Bros. Home Entertainment general manager and executive vice president said that future releases have not been determined, but on the platform fans who obtain the first NFTs will be able to buy, sell and trade NFTs of the films.
WB and Eluvio minted 999 Epic Edition NFTs valued at $100 USD each and in addition, 10,000 so-called Mystery Edition valued at $30 USD. Both formats allow buyers to watch the extended version of the film (which lasts 3 hours 48 minutes) in 4K UHD. They will also have access to more than eight hours of special features, hundreds of images and hidden AR collectibles.
However, the Epic Edition will include special navigation menus for three movie locations: The Shire, Rivendell and Mines Of Moria. Subsequently, you will get specific key art in the locations.
The Mystery Edition will only include one of those locations, randomly assigned. On the other hand, Epic Edition includes additional image galleries that Mystery Edition will not have, hence its higher value.
Schell also said that they are always on a quest to delight and surprise movie fans and collectors to experience new ways of watching movies.
He also called “The Fellowship of the Ring,” which was released in 2001, an infinite film, since, after so many years, it continues to fill the hearts of fans.
The release of these NFTs comes right in the middle of the series premiere of “The Lord of the Rings: The Rings of Power” on Amazon Prime Video, so both the production company, and the movie are in a mind-blowing hype.
While “The Lord of the Rings: The Fellowship of the Ring” has been marketed in traditional markets such as HBO Max, this version of NFTs from WB and Eluvio are looking to make the movie experience a live experience, rather than just a copy of the movie. Michelle MunsonEluvio CEO and Co-Founder Eluvia said they want to turn this experience into a playful collection over time.
As for how they Warner Bros. decided on the number of NFTs to be created for this particular release they said they sought to strike the right balance between wanting them to be available to all fans while at the same time giving them a certain level of scarcity and exclusivity.
How to buy a Lord of the Rings NFT
To purchase one of the NFTs, users will be able to connect to MetaMask or create an Eluvio media wallet that will act as a digital vault and allow users to pay by credit or debit card (depending on country restrictions).
Moreover, with the launch of the NFT collection, the core digital assets of this experience may be updated over time, as they will be NFTs Dynamics. The smart contracts are open source and can be viewed on GitHub. here.
Sales were restricted for many countries (mainly in the African continent). The most important territories where these NFTs will not be sold are: France; Belgium; Switzerland.
Finally, there will be a limit of 10 NFTs per transaction for non-fungible digital assets called “Mystery Edition” and a limit of 3 NFTs per transaction for “Epic Edition”.
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Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.