© Reuters. Arabian Camels runs NFT by giving 50% of the intellectual property rights in a feature film
The $ 50 million Antara feature film, based on the story of the medieval Arab knight Antarah Ibn Shaddad, is produced by the NFT community Arabian Camels, which developed NFT that allows buyers to retain up to half of their intellectual property rights.
The Arabian Camels and Swapp Protocol launched Antara Movie NFT to decentralize film ownership and minimize financial problems associated with film production. Ownership of a digital or real object is confirmed using NFT, which is a virtual asset.
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Deft-enabled NFTs will be created by these two partners, who will be the first of their kind in the world. Blockchain provides the foundation for Swapp, a DeFi system driven by the Ethereum community. Instead of using traditional financial instruments, DeFi relies on smart blockchain contracts to raise funds.
The use of Swapp Protocol’s decentralized financial products will eliminate the financial risks associated with financing films by linking to the Swapp Protocol. “My goal was to build a mechanism for making films that typically cost more than $ 50 million without risk,” Alexander Amaratei, producer of Antara, said in a December 9 statement.
Alexander Amaratei continues:
“This method would not only eliminate financial problems, but would also empower NFT fans to own movies. Without Swap’s innovative NFT farming skills and knowledge and platform and blockchain / cryptocurrency platform, this feat would not have been possible.”
Because of this change, people and film viewers who want to support the project will have more power over the way the film is made by conventional financiers and production companies. Owners of Arabian Camel NFT can take advantage of passive income. Direct financial rewards are provided for people who support the project before its theatrical premiere through the Swap platform.
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Those who are part of the Arabian Camel NFT can participate in the production of the film, have their own names as producers and have access to the set in the Arabian Desert, where the film is being shot.
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