Streaming company Cinedigm is turning films from the 1950s into Non Fungible Tokens, the latest craze in digital collectibles and investments.
Cinedigm acquired Fandor, a global subscription service in January and has created Fandor Select, which will release a set of classic, contemporary and international films. Cinedigm will create a bundle of NFTs for each film, including restored versions of the film in 2K and 4K, stills posters, extra features, interviews and commentaries.
Cinedigm said that each bundle will be a limited edition and price to make collecting films affordable for mainstream consumers. The collections will be available on top NFT collectible markets, where everything from fine art to basketball highlights is traded.
This summer the first two Fandor Selects films will be The Capture and A Life at Stake.
The Capture was released in 1950 starring Lew Ayres, Teresa Wright and Victor Jory, The Western noir film was directed by John Sturges.
Released in 1955, A Life at Stake stars Angela Lansbury and Keith Andes. The noir independent film was directed by Paul Guilfoyle.
“Cinedigm has always been at the forefront of key industry-changing technological advances in the entertainment business” said Cinedigm CEO Chris McGurk. “The launch of Fandor Selects into the promising new NFT ecosystem continues our leadership position in the industry’s ongoing technological revolution. And we are in extensive discussions with additional brands, content creators and IP holders who need a partner with our capabilities to reach fans and collectors in this exciting new NFT medium.”
Cinedigm said this is the first of a number of Fandor product extensions. One item on the company’s roadmap is to use NFT features and capabilities to create a loyalty program.
"As a company with a strong focus on innovation and creating user value, we're excited to be the first film-centric company to offer a new way for film lovers to own a piece of film history,” said Phil Hopkins, president of Fandor and The Film Detective, Cinedigm’s unit focused on classic film discovery and restoration. “These NFT collections illustrate our commitment to preserving film culture while at the same time embracing the future.”
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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