Ridley Scott‘s upcoming film about the genesis and rise of Ethereum, based on Camilla Russo’s book “The Infinity Machine”, is being financed with NFTs. The first two drops have already sold out.
Summary
- Ridley Scott and the film on Ethereum financed with NFTs
- Ridley Scott and the first two NFT collections to finance the film sold out
- The new business model of NFT Studios
An NFT from the “The Infinite Machine Movie” collection
As previously mentioned, Ridley Scott is the producer, through Scott Free Productions, of “The Infinity Machine”, the film about the genesis and rise of Ethereum (ETH), inspired by the book of the same name by crypto writer Camilla Russo.
The production will use Ethereum’s own technology for the first time, both to raise funds through the sale of NFTs and to develop the DAO Infinity Machine, which will entitle its owners to obtain benefits and also become Associate Producers of the film.
The budget set by the producers to be dedicated to the film has been tentatively set at $16 million. While the artists of the project will receive 22.5% of the proceeds, 10% will go to a community treasury fund.
Overall, the Infinite Machine NFT collection is a collaborative effort of 36 emerging artists mainly from countries where decentralization has a strong impact on lives and finances, including Cuba, Argentina, Venezuela, Kenya, Bolivia and Chile.
At the moment, the first two NFT collections have already been launched, both of which have sold out.
Ridley Scott and the first two NFT collections to finance the film sold out
The Infinity Machine Collection of 10,499 NFTs, has so far seen only two drops for a total of 4,156 NFTs minted. The first drop raised 168 ETH in 28 hours, the equivalent of $670,000.
Each artist created 10 versions of the Ethereum logo, plus a work representing their vision of Ethereum’s values and an original frame. About 30% of the NFTs in the collection will be randomly awarded with rewards: the chance to appear as an extra, to visit the film shoot, to be invited to the premiere, to be listed in the credits.
For this sale alone, the artists received 1.05 ETH, or USD 4,200, considering that, by comparison, the average monthly salary in Cuba and Venezuela is around $25.
The new business model of NFT Studios
In mid-May, NFT Studios, the Web3 film production company of Niels Juul, creator of Scorsese’s celebrated films, unveiled at the Cannes Film Festival its innovative business model to democratize access to the film industry, bringing fans closer to the production process as well.
Specifically, NFTs would be used to finance film productions, so that fans would decide to invest directly in their favourite film projects, getting exclusive benefits in return. Not only that, NFT-holding fans will also be able to participate through voting in the production of the film.
