Spike Lee believes NFTs will support film financing
The producer said he was preparing a new NFT project
Spike Lee, the famed American director and producer, made an appearance at an NFT NYC conference at Radio City Music Hall on June 21 to discuss the future of non fungible tokens (NFTs) and film productions. During the conference, the filmmaker discussed the opportunities NFTs offer to open up film financing, to a wider range of investors.
A month ago, the filmmaker announced the launch of a collection in partnership with The invisible project that had as its primary mission to create a community of moviegoers excited about Web3-driven film promotions. Since then, the film maker has become a figure of interest in non-fungible tokens for movies and series,
According to The Block, Lee said his views on the potential usefulness of NFTs came from his own experience with financing his own films. Although they were different methods, the director described that people who financed his films in the 1980s still benefit from that investment. «The individuals who invested in the film are still receiving checks more than 30 years later. The rest is history.»
Lee believes that using NFTs to fund films could bring more democracy to filmmaking, However, he also acknowledged the investment risk involved and urged those interested in investing to conduct proper research on the project, the companies and individuals behind the production «Don’t bet the house.»
He also said he was preparing a new NFT project that will be launched «soon» and will continue with the same objective he has been working on.
About Spike Lee
Academy Award® Winner SPIKE LEE’s iconic body of storytelling has made an indelible mark on filmmaking and television. Most recently, he Directed NYC Epicenters 9/11-> 2021 1/2, and Directed and Co-wrote Da 5 Bloods for Netflix. His directed version of David Byrne’s American Utopia was released by HBO. Prior to Da 5 Bloods, the visionary filmmaker Co-Wrote and Directed the Academy Award®-nominated and critically acclaimed hit film BlacKkKlansman, winning the Oscar® for Best Adapted Screenplay.
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