New NFT company sells out world’s first 'collectable' movie
NiftySplits, a UK company sharing entertainment content through non-fungible tokens (NFTs), has sold out its first collectible movie.
KevCoin the movie is is an independent comedy feature made in the UK via One Light Productions and produced by Danny Wimborne. The now sold out NFT gives viewers access to a download link to watch the movie, as well as unique artwork to enhance its appeal as a collectible.
Founded after 25-years of entertainment creation, marketing and business experience, NiftySplits launched in November 2020 and is focused on creating unique digital assets with entertainment brands as a means of adding value and proof of ownership to mediums such as films, music, books, games and art.
NFTs use blockchain technology as an online ledger which can’t be tampered with, whereby digital ownership of content stored on the internet and in physical goods can be more easily proved. It is believed to have a bright future for creators wanting more control over how much their content can sell for, as well as being able to set royalty fees on resale for long-term income.
Jason Attar, Founder of NiftySplits, says: "We placed the film as an ongoing experiment to understand the process and possibilities of NFTs. We were so surprised at the speed in which it sold out.
“By showcasing the breadth of new markets available to traditional content owners via NFT and blockchain, we hope to build both third party licensing and original content as a scalable business.
“We are building software solutions to enable NFT plug and play functionality on third party websites and apps.
“The unique aspect of NFTs is the fact they can be resold, with the original publisher claiming a typical 5 per cent-20 per cent royalty. This is written into the code of the NFT for life. It transforms the long-tail on content revenue, upon which, depending on the rarity of the digital goods, could easily see the value increase over time.”
NiftySplits is currently negotiating with rights owners of some the most iconic moments in cinema, with the view to sell new NFT collectables as part of the NFT ecosystem.
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