The giant company Warner Bros. Discovery will launch non-fungible token (NFT) The Lord of the Rings: The Fellowship of the Ring which includes the 4K movie version on October 21.
Please be informed that Warner Bros. Home Entertainment and blockchain company Eluvio have collaborated to release the NFT collection which includes an 'extended version' of the 2001 film in 4K UHD, an image gallery and a hidden AR collection.
In context, NFT The Fellowship of the Ring not only created a "Mystery Edition" priced at $30 and an "Epic Edition" at $100 but also created a navigation menu for The Shire, Rivendell and Mines of Moria.
Explained, Warner Bros. is the first major studio to give its fans a unique experience by releasing the Fellowship of the Ring Web3 movie as an NFT.
Furthermore, the company is confident that it will expand the NFT market through the release of other movie titles and the establishment of a website that functions as a WB Movieverse venture.
According to Jessica Schell, General Manager of Warner Bros. Entertainment stated that NFT of the Lord of the Rings movie has produced 999 copies of the "Epic Edition" and 10,000 "Mystery Edition" so that fans can experience the exclusivity.
Meanwhile, NFTs and cryptocurrencies are said to have gained attention in the technology space in the last year, but some argue that the technology will have a negative impact on the environment following the energy that must be used when mining digital assets.
