Warner Bros. has entered a partnership with Eluvio, a Web3 company. It will help build an NFT “Movieverse.” It would be presented like videos with a lot of menus added on.
The new project they now embark on is to produce NFTs of The Lord of the Rings: The Fellowship of the Ring. It will be used to set the Warner Bros. “Movieverse” rolling. Analysts have criticized it as a move that makes less sense the more it is spoken about.
Warner Bros. announced the coming release of the mover experience on Web3 on Thursday. It is yet another release of the 2001 Peter Jackson movie. Only this time, it will permanently be on Eluvio’s content blockchain.
Eluvio’s CEO, Michelle Munson, spoke via a press statement about the new partnership. He praised Warner Bros. for the company’s displayed commitment to NFTs. He also said the latest partnership is going to bring movies as NFTs to a wider audience of people.
The statement read that Lord of the Rings fans can now buy, trade, and participate in a media experience. It is one that is guaranteed to give them delight. Munson said the experience is designed to cater to a mass audience of people, not only Web3 lovers.
One can buy and possess an actual copy of The Fellowship of the Ring in 4K. You can also get all other Warner Bros. Lord of the Rings collections also in 4K. the studio is, however, depending on a few features to be sufficient to convince people into buying other editions of the movie so they get embedded in the “Movieverse.”
Warner Bros. plans to have more of its movies released as NFTs in the future. A possible use case of the “Movievserse” in the future is to become a marketplace. Users would be able to buy and sell assets there.
Eluvio said Warner Bros. might want to mint each asset in a movie NFT. They would then be able to sell them independently in the future, apart from the total bundle.