How NFTs are creating novel fan engagement verticals for Hollywood
Non-fungible Tokens (NFTs) are limited edition digital collectibles that are primed to revolutionize the entertainment industry. With the global film industry generating over $100B in revenue in 2020 (Forbes), Hollywood is perhaps best positioned to benefit from the recent proliferation of NFTs. Whether it’s Darth Vader telling Luke about his fatherhood, or Thor arriving in Wakanda to save the day in Avengers: Infinity War, Hollywood provides endless opportunities to convert audio-visual clips into prized NFTs.
So, whether you’re a film buff or a collector, Hollywood-based NFTs provide a compelling and valuable asset that is creating an entirely new revenue vertical and fan-engagement tool for the film industry. This is the thesis and genesis behind the inception of Move Network and how we’ve differentiated ourselves as a first mover (don’t mind the pun) and leader in the NFT space.
With deep Hollywood roots and actionable partnerships, Move Network has ownership of diversified entertainment-based IP that can capture illustrious moments in film and convert it into scalable NFT offerings. Our recent partnership announcement with acclaimed LA-based production company, The H-Collective, will act as our launch-pad to bring diversified-entertainment-based NFTs to market in the coming weeks.