Warner Bros. to release The Lord of the Rings movie as NFTs
Multimedia entertainment firm Warner Bros. is planning to release the 2001 fantasy movie: The Lord of the Rings: The Fellowship of the Ring as part of a digital collectable bundle, setting the stage for its 'WB Movieverse.'
Each NFT bundle contains a 4K copy of the movie with 8 hours' worth of behind-the-scenes footage, photo stills from the movie set, and hidden augmented reality (AR) collectables inspired by the film.
For this project, Warner Bros. partnered with Web3 firm Eluvio, who developed the NFTs and is hosting them on its Ethereum-backed Content Fabric blockchain.
The basic 'Mystery' bundle is priced at US$ 30 and randomly features one of three themed navigation menus inspired by The Shire, Rivendell, or the Mines of Moria (iconic locations from the movie), along with the other content listed above. Buyers could also opt for the pricier 'Epic' bundle, which costs US$ 100 and contains all three themed navigation menus with several images, not in the Mystery bundle.
Interested consumers can head to the WB Movieverse site to buy The Lord of the Rings NFT bundles which will be available from Friday, October 21.
To be clear, ownership of the NFTs does not grant holders copyright usage of any of the materials in the bundles. It is basically the same as owning a digital Blu-ray of the movie, but with themed menus and AR assets.
According to Warner Bros., this initiative is experimental, and the success of The Lord of the Rings NFTs could see it release other movie titles as digital collectable bundles. It also said it could potentially turn its Movieverse into a marketplace where users can trade the NFTs among themselves.
The company says it wants to give its consumers a sense of digital ownership by allowing them to hold the NFTs in their wallets rather than buying them off platforms like Amazon – which can still revoke their rights.
Before Warner Bros.'s recent Web3 offering, other Hollywood giants have flirted with the idea of creating film-inspired NFTs for their fans. These include Saw NFTs from Lionsgate, The Walking Dead NFTs from AMC, and Netflix's blockbuster series Stranger Things NFTs, which were met with considerable criticism by some fans.