Production company NFT Studios announced “the first-ever Hollywood feature film to be fully funded” by “non-fungible tokens”, with Niels Juul, the exec producer behind Martin Scorsese’s The Irishman, as the founder.
The production company is the first in its kind to fund a series of movies entirely through NFTs, which are ways of owning the original digital file though certificates of authenticity.
The first film on the list is A Wing and a Prayer, the story of the first man to circumnavigate the globe in a microlight.
“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,” said Juul.
London-based incubator NFT Investments put in $1m in NFT Studios in exchange for a 20 per cent stake in the company.