PVR announces NFTs for the forthcoming film RRR In talks with movie studios to create digital assets. This multiplexer is launching 300 digital assets from RRR, the film’s upcoming release which is scheduled to release on the 25th of March.
Multiplex player PVR has joined forces with the producers of the upcoming venture RRR to make available digital assets from the film, with the initial release containing six types of non-fungible tokens (NFTs).
“There is two NFTs which are posters that have been which have been signed by all of them, while the other four are props like coins, bikes and weapons. There will be 50 collectibles from the NFTs. In total, 300 NFTs were created,” Sanjeev Kumar Bijli the Joint Managing Director of PVR Limited, told Moneycontrol.
As well as creating buzz for RRRwhich has been estimated to make around 200 crores in the Indian box office, PVR is exploring the NFT avenue to connect with its viewers, who primarily is between the ages of 18-24.
The digital assets from the film RRR are not being sold and the multiplex has launched a contest offering NFTs. “Customers must purchase tickets to RRR using the PVR or the SPI app or on the website, which will offer 300 people the chances to win NFTs from PVRRR. These NFTs are awarded to winners on March 31,” said Bijli.
Alongside RRR The exhibitor is currently in discussions with other producers about launching digital collectibles based on films.
“We are in talks with 5-6 film studios to launch movie-NFTs across Hollywood and Bollywood. We are looking to drop NFTs of both old classics and forthcoming ventures,” added Bijli.
Rajat Tyagi, Chief Information Officer at PVR announced that the firm has signed a partnership in KoineArth’s ngageN platform, which is an NFT platform that is designed to support brands as well as the creator economy.
Tyagi is a skeptic who believes NFTs can be the most influential in the fields of entertainment and media The company is contemplating launching NFTs as special edition tickets to movies that could be sold through the business.
Experts agree that even though the percentage of movie NFTs isn’t huge in the present, because the market is still brand new, digital collectibles based on films are a rapidly growing market, and India is a major market for NFTs, particularly film-related ones. Additionally, pre-theatrical NFT release is the latest trend for movie marketing could take advantage of, say experts.
In NFT, the NFT sector in India films have made a splash and NFT players claim that the digital assets in films can be a good opportunity to introduce concepts such as NFT to the market, as India has a large film-loving population.