Whether they’re terrifying, humorous, serious, romantic, or somewhere in between, movies have the power to move us like nothing else. There are so many titles to try out and so much to learn.
From award-winning satires to graphically rich science fiction, movies have one element in common: creativity.
Perhaps a movie’s most creative and innovative aspect comes from the plot and how the film is designed graphically. Non-fungible tokens are one of the best options when it comes to superior designs, complete ownership, and attention to grasp details.
In a move expected to result in a shift in the way the Indian film industry operates, NFTs and movie production have joined hands. Senthil Nayagam, a technology entrepreneur, and G K Tirunavukarasu, a film producer and movie business expert, have teamed up to launch Oracle Movies, India’s first NFT Movie Market Place.
Oracle Movies will be India’s first NFT Movie Marketplace. The two founders aim to help Tamil, Telugu, Malayalam, Kannada & Hindi producers to earn more revenue and gain more recognition.
The ‘Non-fungible Tokens,’ or NFTs, are based on blockchain technology. This tech allows filmmakers and companies to acquire and sell movie rights quickly and smoothly. NFT is a one-of-a-kind product that cannot be duplicated. As a result, it avoids fraud and provides stakeholders with a safe and secure environment. It also ensures that the artists, creators, and designers get deserved recognition and profits from a movie’s box-office sales.
Because the existing system relies on paper contracts, work becomes slow, messy, and clumsy. These traits are unsuitable for modern cinema. On top of everything, there is no central agency that maintains track of movie rights sold.
NFT will fill in the gaps and provide a solution for all the problems mentioned above, with Oracle Movies serving as the one-stop-shop. Any asset can be “tokenized” and placed in a decentralized ledger called blockchain to generate a digital certificate of ownership that can be bought and traded using NFTs.
Scope and market segmentation by OracleMovies
Oracle Movies will first offer its services to filmmakers and IP rights holders, with target sectors in Tamil, Telugu, Malayalam, Kannada, Hindi, and English. Other regional languages will also be added to the service in the future.
Their long-term plans include expansion throughout the country and beyond. Oracle Movies will bring Indian films to a traditional global market and new, unheralded, and undiscovered markets. The company also aims at bringing international films to India for release, dubbing, and remakes.
This will increase the scope for targeted market sectors and give way to new industries.
Information related to the project and its leaders.
Oracle Movies plans to integrate RBI’s Central Bank Digital Currency, DigitalRupee, into its Blockchain Application Platform. DigitalRupee is set to release later this year.
Senthil Nayagam has spent more than two decades working on open source technologies. He co-founded Sedin Technologies, a 16-year-old software service firm with locations in Chennai, Bangalore, and Canada that employs hundreds of employees.
GK Tirunavukarasu is a media professional, co-founder, and director of Oracle Movies. He has over 15 years of experience in radio, television, events, film, movie production, and consultancy.
OracleMovies looks like a brilliant project. Let the force be with them!