In recent months, the film industry has forged stronger ties with NFTs. There are now several platforms that use NFTs to finance movies. Hollywood greats have also entered the lucrative world of NFTs.
In January, Quentin Tarantino took over Pulp Fiction NFT, with the launch of the ETH-based TARANTINO NFT, a set of 7 NFTs that included never-before-seen footage from the film.
Coinbase aims to re-engineer the link by bringing Bored Ape Yacht Club to theaters.
Coinbase announces Bored Ape film trilogy titled "The Degen Trilogy"
This week, Coinbase announced a new film project.
Announced on Twitter, Coinbase tweeted:
“We are creating a three part interactive film with the @BoredApeYC & @apecoin communities”.
Coinbase invited the NFT community to participate in the creation of the trilogy.
Coinbase has invited the owners of Bored Ape NFT to audit their monkeys for the trilogy.
According to the latest news, Coinbase's director of marketing for entertainment and culture William Swann said:
"Mutant Apes, another project owned by Yuga Labs, will receive the same treatment, along with other popular projects yet to be disclosed."
For the NFT space, the timing of the trilogy coincides with the expected launch of CoinbaseNFT. In March, Coinbase announced the imminent launch of CoinbaseNFT, a peer-to-peer marketplace that allows users to discover, mint, buy and display NFTs.
While Coinbase may be among the first to bring NFTs to theaters, the film industry has been partnering with NFTs for some time.
The film industry is targeting NFTs to revolutionize the industry
It was a busy first quarter for the film industry as directors turned to NFTs for fundraising.
In January, FF3, a new platform, was launched to allow the film industry to finance its movements through NFT sales. The Investors they can get a share of the movie's revenues, as well as receive collectible NFTs which could fetch a tidy sum on the NFT market.
Indie films, more commonly known as Indie Films, have also made headlines. FX Empire reported that indie films are targeting NFTs and DAOs as a major source of funding. In February, director Miguel Faus announced a crowdfunding for “Calladita,” with NFT and other rewards offered to those who contributed.
With Coinbase and its film production capabilities, the platform may have plans to join the film industry revolution.