Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

Due to the impact of the new crown epidemic, starting from 2020, the world’s major film festivals and their film markets have shifted to online hosting.

Whether it is the 73rd Cannes International Film Festival, the 51st Rotterdam International Film Festival, or the 45th Toronto International Film Festival, it seems that the introduction of festivals and events that once attracted many fans and industry professionals to the Internet is becoming a trend in the past two or three years. a new trend.

At the same time, in recent years, the new concept of “Metaverse” has also exploded at home and abroad, and Internet giants are scrambling to deploy it. Especially in 2020, when human society reaches the critical point of virtualization, theepidemic not only accelerates the development of new technologies, but also accelerates the formation of a non-contact culture.

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

At the end of last month, the 75th Cannes Film Festival fully resumed offline screenings and market transactions, and all popular online events were cancelled. Except for some staff who still wore masks to serve people, other offline programs have resumed. The lively event ended successfully on May 28.

However, although the European and American worlds have reached a temporary reconciliation with the new crown virus and chose to use herd immunity instead of strict prevention and control, China is still more cautious in epidemic prevention, and the film market has always been in a state of stagnation. However, during this period, some film practitioners did not choose to sit still.

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

No, just during the 75th Cannes Film Festival, an online festival event known as the “First NFT Film Festival” was quietly held on May 20, 2022, with the main body of Cannes embedded.

Why quietly? Because compared to the Cannes Film Festival, which is only open to professional film professionals, the audience of this NFT Film Festival has no identity restrictions and is open to everyone. However, according to the author’s interview, the total number of people logging on to the event server is only more than 5,000, which obviously does not match the high attention and discussion of the Cannes Film Festival.

However, being able to combine the world’s number one film festival exhibition with the most cutting-edge concepts such as the Metaverse and NFT still creates a lot of room for imagination. In the future, the collision of these popular topics will play a role in the development of film culture and industry. What positive effects are also expected.

What is NFT Film Festival?

To understand what an NFT film festival is, you must first know what “Metaverse” and “NFT” are.

In fact, the concept of Metaverse has been mentioned as early as 1992 in the foreign science fiction work “Avalanche”. The novel depicts a vast virtual reality world called the “Metaverse”, where people can have their own virtual doubles and compete with each other to improve their status.

In simple terms, the Metaverse is a parallel universe carried in digital form.

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

This year’s NFT Online Film Festival virtual space entrance

As for NFT, its full English name is Non-Fungible Token, which is also translated into “non-fungible token” in China. Each token contains unique data information, which exists as an electronic certificate of ownership of virtual goods.

Since it cannot be deleted from digital files, it can be used to characterize several digital items, such as movie clips, soundtracks, videos, skins, shields and other creative works or products in games. At present, it is more called “digital collection” in China.

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

Live broadcast of the roundtable on the first floor of the virtual art gallery

The audience needs to control the virtual person to be close to the big screen to watch the live broadcast of the offline artist and expert dialogue online

Therefore, based on the above two concepts, in this NFT Film Festival, the organizers “DAO Metaverse” and “WEGAS Blockchain Company” used the Ethereum Decentraland platform to build a virtual world, trying to combine “Metaverse” “The concept has initially come to fruition.

And NFT is added to the digital collections exhibited, screened and sold at the film festival, making these virtual goods that can be copied indefinitely unique and scarce.

How does it feel to actually be involved?

If you only listen to the above official introduction, it may be really “bluffing”, but in line with the principle of having a good reason and being there, on May 20th, the author also purchased the domestic co-organization platform of this NFT Film Festival” Double ticket to experience the “New Literary Universe”.

It needs to be clear that this NFT Film Festival is not open to the public for free. According to the official pricing, you need to pay 100 euros to purchase a “DAO Metaverse” member before you can enter the Decentraland virtual space.

The domestic “New Literary Universe” platform got the opportunity to co-organize the event, and was allowed to broadcast it in its customized virtual scene APP “Cloud Event”. The price of a single ticket is 19.9 yuan, and the double ticket price is 29.9 yuan.

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

The author participated in the domestic broadcast of the NFT Film Festival

First of all, it needs to be affirmed that the scene construction of the virtual space at home and abroad is relatively complete, the props are arranged in a more atmosphere, and the overall operation is relatively smooth. . Even in terms of sound production, the microphone can be selected for full-field listening and small-range listening, which is more user-friendly.

However, in the afternoon of the broadcast, the overall feeling of stuttering was strong, and there would be many situations where the screen did not switch, the screen stopped, the sound could not be heard, and even the server had to be reconnected. Fortunately, after the debugging at halftime, the problem was solved at night.

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

The film screening point on the third floor of the virtual art exhibition hall. The films here are purely screened, without competition, and the audience can choose to watch them independently. It is not automatically played in a loop. A total of 18 films are shown, including 9 outstanding Chinese films.

In addition, in the “music”-related dialogue at the beginning of the afternoon session for nearly an hour and in the evening, the foreign guests all spoke French. Although the domestic broadcast venue is equipped with simultaneous interpretation, it only speaks English and cannot translate it, resulting in a long period of stagnation.

Even at the beginning of the show, more professional hosts in China talked with the guests about the understanding of concepts such as the Metaverse and NFT from their perspective, so as to save the scene, but from the author’s point of view, I still want to know more about foreign film festivals when participating in this event. Development trends and future development trends, so it is a little regretful to encounter such a situation.

Where is the problem?

Although the understanding of the Metaverse and NFTs at home and abroad is still in a period of debate, there seems to be no relevant consensus at present. But in academia, there are actually some experts and scholars who have done some research on it. After the author’s inquiry, I learned that in the “Tsinghua Metaverse 2.0 Report” released in January 2022 (hereinafter referred to as the “Report”), the standard Metaverse construction steps are clearly pointed out:

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

Obviously, this NFT Film Festival has not constructed a Metaverse world that meets academic standards. The reason is that its core vulnerability lies in the inability to achieve “mirror” and “virtual”.

First, although this NFT Film Festival has built a relatively complete virtual space, it is not closely related to the Cannes Film Festival competition venue;

Second, although images can be regarded as “virtual objects”, the characters in the offline roundtable meetings are still real shots, so “virtual” is still a certain distance from the real “standard”.

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

Introduction to the schedule of this year’s NFT Film Festival

At the same time, in response to the lag problem encountered during the broadcast of this NFT film festival, the author also conducted an interview with the new literary universe platform.

It was learned through interviews that most of the preparatory content was launched on the French Metaverse platform in the late night of May 19 at the main foreign venue, and the time left for the debugging of the new literary universe was too hasty. In addition, in foreign countries, the Metaverse is entered in the form of offline live broadcast and online, while in China, the Metaverse is connected with the Metaverse.

Therefore, this kind of complex chain of “online and offline reconnection” has undoubtedly become a major technical threshold, causing the broadcast venue to encounter a certain lag problem, which was not solved until more time was spent on debugging.

To sum up, from the current perspective, there is still a gap to take a solid first step in building a standard Metaverse, and there is still a long way to go to achieve the ultimate “virtual-real linkage”.

Are NFT collectibles the new trend?

According to a report released by Guangming Daily on May 24: “In recent years, digital collections have become quite popular among the post-90s and post-00s groups. Like the fried shoes in the past, some people made a lot of money in the beginning. For example, a digital picture on the NFT platform iBox called “NFT Havoc in Heaven” series, the starting price is 99 yuan, but after rounds of price hikes, it has risen to more than 11,900 yuan, with a limited number of 2,000 copies.”

The digital exhibit “Entre Nous” on the second floor of the virtual space of this NFT Film Festival was originally a movie. Now its poster has been NFTized, and the price is 3500 euros. It also indicates that if the user buys the NFT , will receive special tickets, VIP merchandise and DAO collections related to the film to receive dividends, and the payment will also be used to finance the production of the film.

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

“Entre Nous” NFT Poster

Why is the same NFT, the price and gameplay at home and abroad are so different?

After investigation, the author found that in China, take the digital collection platform iBox as an example. In the transaction link, it has two channels of “first issue” and “consignment”. Most of the digital collections in the first market are issued by iBox officially in cooperation with various IP copyright owners. Usually, the price is low and the quantity is limited, so they need to be snapped up.

The “consignment” market is a secondary market alliance chain opened by the platform for users to openly trade digital collections. Like the “price gouging” mentioned by the “Guangming Daily”, this is the place where it occurs. However, since there is no circulation between each consortium chain in China, NFT can only be traded on a small scale within the platform, so the financial attributes are weak.

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

The “Havoc in Heaven” NFT collection being sold on the iBox platform

However, in foreign countries, due to the oversupply of NFTs, the high degree of freedom for ordinary users to create collections, and the high liquidity of the platform built on public chains such as Ethereum, the financial attributes are relatively high, and there is little price speculation, more for collection and support. use.

However, in this interview, Mr. Mu Mingyi, the general director of the NFT Film Festival broadcast site, also took the film “Changjin Lake” released on March 31 this year as an example of 5,000 art collections. In China, there has been a trend of using NFT technology to attract investment and make video derivatives for capital return.

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

“Changjin Lake” NFT works

He also appealed that the behavioral concept of the audience when buying NFT should be “owning derivatives of their favorite works”, rather than “betting” whether it can flow into the secondary market, hyping and making money like IP “boring monkeys”. In this way, a virtuous circle of capital return can be truly achieved for images and their creators.

However, it should be noted that, as far as the current situation is concerned, compared to flat works, the cost of making video works into NFTs is higher . Therefore, it is not recommended to use NFT adventures for dynamic images at present. You can try to publish derivatives such as posters and planes to bring out the existing value of the technology.

Is the first NFT film festival a gimmick or a new trend?

As far as the domestic field of this NFT Film Festival is concerned, there are only 50-60 people online each time, which shows that the domestic audience has low sensitivity and participation.

The author believes that this situation is due to the fact that the concept of “Metaverse” has not been well implemented, and most domestic audiences, except for players who speculate on prices, still hold a wait-and-see mentality.

After all, in the face of a fully formed platform that does not currently have an official, authoritative, unified, and circulating platform, let alone a new concept of fair rule judgment, it is indeed difficult for players to correctly grasp it based on their own judgment.

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

But as the first NFT film festival, its groundbreaking can not be underestimated:

For foreign countries, although there is still a certain gap with the “standard”, it also allows people to know how far the current Metaverse has developed, and what the wind will be after the combination of NFT and movie works.

For China, in addition to the above groundbreaking, even if its scope of dissemination is small, it does have the intention to spread to the country and to have a wider international circulation, which is more beneficial to the development of NFT and even the film industry.

Metaverse +NFT+Cannes, this online film festival is a gimmick or a new trend

Whether it is the graphic work “NFT Havoc in Heaven” or the future video works, they are virtual in themselves. Now, with NFT technology, it is actually creating a copyright chain for virtual objects. The existence of NFT can well protect the copyright of independent creators, and can even arouse the original weak copyright trade awareness in China, providing a new source of funding for video creation.

Through the holding of the NFT Film Festival, the buyer can also support the works they recognize and their peripheral benefits, and the seller can use the funds to invest in subsequent creation and distribution, forming a win-win situation.

Therefore, whether this NFT Film Festival is a gimmick or a benchmark is actually a mixed bag, and cannot give a unique conclusion. How to implement the concept, how to establish a correct and unified gameplay, how to let more people recognize it… How to break through these bottlenecks may be the most worthy of discussion after this NFT Film Festival.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/metaverse-nftcannes-this-online-film-festival-is-a-gimmick-or-a-new-trend/
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