NFT tokens will be used to finance movies

Spike Lee, director of the films Do the Right Thing, Catcher in the Rye, and Oldboy, has expressed his opinion on the prospects of non-fungible tokens in film financing.

During the NFT.NYC conference, Spike Lee said that the use of NFTs will create a more democratic environment for film production. The director shared examples from his own experience: investors who backed his films in the 80s still receive a percentage of the sales. Therefore, according to Li, it is obvious that users who purchase NFT tokens to support a particular movie will make a big profit.

The director also hinted at the upcoming launch of his own NFT project related to the film industry and advised supporters to «consider the risks of investing and not to sacrifice all their savings.»

The idea of using virtual assets to finance films is not new, as California producers Ben Rosenblatt and Micho Rutare presented a project to finance independent films using the FLIX cryptocurrency in early June. Using the FLIX token, movie lovers will sponsor indie films (75% of the cost will be transferred to the film fund, and 25% will be spent on marketing and production needs in connection with the token support).