NFT penetrates into the blockchain world of film distribution

NFT’s enthusiasm on the auction floor continues, this time the protagonist is one of director Wang Kar Wai’s masterpiece “In the Mood for Love”. Recently, Hong Kong Sotheby’s and Wong Kar-wai jointly launched the first Asian film NFT “In the Mood for Love-A Moment”, which will be available for modern art evening shooting on the 9th next month.

NFT penetrates into the blockchain world of film distribution

“In the Mood for Love” is an unreleased segment of the classic movie “In the Mood for Love”, from the first day of filming by Maggie Cheung and Tony Leung. The NFT will only release one version, with a duration of 1 minute and 31 seconds. Judging from the exposed 11-second silent segment, this is completely different Zhou Muyun and Su Lizhen.

NFT penetrates into the blockchain world of film distribution

As a digital asset issued on the blockchain, due to its non-homogeneous and inseparable characteristics, NFT can be bound to some commodities in the real world, such as game props, digital artwork, tickets, and so on. As NFT has natural collection attributes and convenient transactions, artists can use NFT to create unique digital artworks.

For this special and meaningful lot, Wong Kar-wai wrote a special article to share his feelings.

“Creation often comes from a single thought. A thought has ninety moments, and a single moment has nine hundred births and deaths. Where did the thought of “In the Mood for Love” come from? It is hard to say. What is certain is that I put this idea into practice on February 13, 1999. The first day of action. The first day of each filming is equivalent to the first date with the person in the dream; both surprised and delighted, like walking on thin ice. There is no turning back arrow at the bow. Twenty years have passed, and the arrow is still flying. Today, with the help of decentralized digital technology, we will save and display this extraordinary day in a new form. In the world of blockchain, the years are not old. I hope more people will experience it in the future. Pursuing, the moment when the light flashes.”

NFT penetrates into the blockchain world of film distribution

NFT is based on blockchain technology. The blockchain has the characteristics of anonymity, decentralization, and non-tampering of data. When NFT works are circulated on the blockchain, each block contains the encrypted hash of the previous block. , Time stamp, transaction data, so every NFT work can also be traced to the source and cannot be tampered with.

People use cryptocurrency to collect and pay and buy an NFT work, just like adding a lock to a digital item, and only you can open the lock.

NFT penetrates into the blockchain world of film distribution

Compared to physical assets, as a digital asset, it cannot be resold, replaced, or divided, because you own the ownership of it, and it completely belongs to you. This makes digital storage exclusive, safer and more reliable.

Therefore, we can see that the hottest “pioneers” in the NFT industry are all from the entertainment and art industries, which has set off a wave of NFT consumption.

NFT penetrates into the blockchain world of film distribution

Now, NFT has also naturally expanded to the film field.

Compared with film, video tape, and DVD, NFT is the real way to make movies closer to “permanence.”

Although NFT has not yet reached its maturity stage, it is certain that more NFT creators and NFT film and television works will appear in the future. In the near future, we will also be able to use NFT to retain more precious memories in our lives.

Because, as Wong Kar-wai said:

In the world of blockchain, years are not old.

Posted by:CoinYuppie,Reprinted with attribution to:
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