“Prizefighter: The Life of Jem Belcher” is the first NFT-funded movie to be released on Amazon Prime. The hour and thirty-minute film tells the story of the birth of boxing in England in 1809.
Director Matt Hawkings also plays the lead role of Jim Belcher, who becomes the youngest ever world boxing champion.
Movie with NFTs
The movie was funded in part using NFTs, lowering the barrier to entry into the world of movie financing. In this way, non-fungible tokens allow anyone to become an investor in the movie industry.
The NFTs that funded the movie now have exclusive rights associated with its distribution. Also, due to the success of the first phase of the project, the developers are now planning to release more NFTs related to the produced movie.
The movie production also had the help of Moviecoin, the NFT marketplace that designed the movie tokens.
We tried to make an independent movie, but we got to the point where we ran out of money. That’s when I reached out to James from Moviecoin to see if there was anything we could do with the company and NFTs. Hawkings said, “And now we’re here to celebrate the result.”
As Hawkings pointed out, NFTs played a major role in making the feature. In other words, there wouldn’t be a movie without funding from NFTs.
“The idea of Moviecoin.com is to fund movies using cryptocurrency or NFTs. To create NFTs, we decided to take props from the movie, like the boxing gloves that Russell Crowe or Matt wore, and turn the props into NFTs.”
Moviecoin operates an NFT marketplace that allows profit share for investors in movies on its platform. This lowers the barrier for the investor to get a share of the movie profits.
The minimum entry to get a movie revenue share on Moviecoin is $100. Meanwhile, traditionally, to become a feature film backer with profit sharing, one would need at least $100,000 USD.
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