KEY POINTS
Netflix UK has reportedly acquired “NTF:WTF?,” a documentary from BAFTA-winning filmmaker David Shulman delving into the realm of non-fungible tokens (NFTs) and their influence on the art market.
Co-produced by Josh Berger’s Battersea Entertainment and Atomized Studios (“Real Mo Farah”), the film delves into the transition of traditional art to the digital realm, examining how NFTs have impacted both artists and art enthusiasts.
Released on December 21, 2023, the documentary references the successes of notable collections like Bored Ape Yacht Club (BAYC) and Cryptopunks, alongside projects such as the NFT game CryptoKitties and NBA Top Shots, a platform enabling the trade of digital collectibles featuring NBA highlights.
Furthermore, it sheds light on early adopters like Snoop Dogg, who ventured into the space in 2021 by acquiring four BAYC NFTs, and influential digital artists like Beeple, renowned for selling one of the most expensive NFTs at a staggering price of $69 million.
The documentary also includes an interview with Damien Hirst, the artist who made headlines in 2022 by opting to burn $10 million worth of physical artworks from his “The Currency” collection after some holders chose to retain only the NFT versions.
NTF:WTF? is not the first documentary to explore NFTs. In 2022, Amazon Prime added the series “NFTMe” to its extensive library, aiming to introduce and showcase the rising popularity of NFTs.
In January 2024, Netflix premiered “Lift,” featuring Kevin Hart in a thrilling heist not just for gold but also for a valuable NFT. The film sparked discussions about the impact of NFTs, blending elements of crime with digital art.
These documentaries play a role in spreading the popularity of NFTs and educating audiences about their significance and potential. NFTs garnered widespread attention during their boom years in 2021 and 2022, experiencing some downturns in 2023, but showing signs of recovery in 2024. According to BCC Research, the global NFT market is projected to reach $125.6 billion by 2027.
