South Korean Movie Industry Embraces NFTs by Offering Merchandise and Collectible Tickets

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To appeal to extra viewers, the film business in South Korea has gone a notch larger by incorporating non-fungible tokens (NFTs) as a advertising and marketing software. 

With NFTs taking the world by storm, the Korean film sector has not been neglected of this bandwagon since December 2021 by providing NFT merchandise and collectable tickets to a restricted variety of moviegoers. 

For occasion, Lotte Cinema and Warner Bros. gave out NFT merchandise to the primary 30,000 individuals who bought tickets through the launch of “The Matrix Resurrections.” 

A Lotte Cultureworks spokesperson mentioned:

“All of the 30,000 NFT products were given out to the audiences. NFTs are trendy these days, so there is no reason not to do an event like this again.”

The spokesperson added that the NFT merchandise, which incorporates unique scenes of the film and two signed posters, was sparking curiosity, thus attracting a bigger viewers. 

NFTs are seen as a game-changer

According to Director Cho, NFTs are anticipated to be a stepping stone in direction of extra income within the Korean film enterprise within the post-pandemic period. He said:

“We anticipate NFTs to open up new possibilities in the film market, which has been stagnant due to the COVID-19.”

NEW, a movie distributor, is eyeing to propel NFTs to a complicated stage, on condition that it introduced the sale of three,000 generative artwork NFTs developed utilizing the IP deal with of upcoming movie titled Special Delivery discovered on the main NFT platform OpenSea. 

With NFTs taking the type of digital pictures the place the customer owns the hyperlink of the picture as proof of possession, a University of Sussex skilled just lately opined that NFTs could be “everywhere in the future because anything requiring evidence of ownership will be an NFT”. 

Image supply: Shutterstock

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