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Secondary market is calling you: How to add secondary market power on Film NFTs?

After traditional art forms such as painting and photography, film production quickly recognized the potential of NFT technology. The key question here too is what fans get for their money.

Firstly, you can broadcast your film as NFT and break all traditional distribution models and monetize your film as NFT. So how realistic and useful is this? Honestly, almost zero at least for a while.

Despite the fact that there have been early-bird projects that promised this (but none of them exist anymore), CHEYNI does not claim that NFT will disrupt traditional film distribution. Forget the idea of producing films as NFTs and build digital collectibles of films!

How do CHEYNI establish the Film and NFT relationship?

Let's first recap what NFT is:

NFT means non-fungible tokens (NFTs), which are generally created using the same type of programming used for cryptocurrencies. In simple terms these cryptographic assets are based on blockchain technology. Cryptographic assets cannot be exchanged or traded in the same way. In contrast to Bitcoin or Ethereum, they cannot include liquidity. Utility, benefits, and use cases determine their value.

Here are some use cases that can add value to film NFTs:

  • NFT crowdfunding

  • Exclusive audience engagements

  • Cross-project partnerships

  • Brand collaborations

  • Donations

Wait, it's not over yet! You should also design the secondary market!

The second market is directly proportional to NFTs' tradability power. The potential of an NFT to create a second market can tell you whether it is likely to be sold on the market. A second market is determined by the benefits and uses of NFTs.

So how can we create a second market power?

Develop exclusive and sustainable NFT usage areas! You can greatly increase the tradability of your NFT only by doing this.

Let's reach the second market potential by deepening an NFT example:

Let's offer the buyer the benefit of meeting the actors/actresses of the film as the benefit of the NFT collection of a film.

In this example, NFT's potential to sell is related to who the cast of the film is. If your cast is Scarlett Johansson, that's a good idea! But the second market power is not established yet. Meeting the cast could technically be a benefit only available to first buyers.

What if we added access to the behind-the-scenes of the film as an NFT benefit? Not a bad idea. This seems like a sustainable benefit and a good hint of second market potential. But if your film isn't Scarlett Johansson's Avangers, there might not be enough of a "exclusive" second-market benefit. But let's keep this idea anyway and move on.

We want to make the benefits of NFTs visibly "exclusive" and "advantageous" to push the second market to a strong point. Isn't it? So let's try to go deeper with all our potential.

Let's leave the Scarlett Johansson and Avangers example behind and move on to a more local production example.

Let's take the example of a film shot in Paris or Istanbul, maybe even in a small town. There are no Hollywood-based casts in the film, so an army of millions of fans eager to access behind the scenes of the film isn't waiting for you.

Whether it's a Hollywood or an independent production, the locations where your film was shot, the brands sponsoring your film and the lifestyle of your target audience will give you clues in the process of creating the secondary market values of NFTs.

In the second market, you can offer NFT owners special privileges at the venues where your film was shot, discount opportunities on the services or products of the brands sponsoring your film, and the opportunity to attend events that will attract your film's audience. In this way, you increase the second market chance of your NFTs and take the first step in building a sustainable NFT community.

In summary, designing your film's NFTs as a chargeable digital membership card will increase your NFTs' second market chance and allow you to build a sustainable NFT community.

A bright Future for Filmmakers

Diversity and a wealth of ideas characterize the connection between Filmmaking and the NFT world. A true “blue ocean”, where many more surprising and exciting solutions will be created soon. Here too, the community can give new “fuel” to projects that would never have a chance to come to life without fans.

A whole range of examples of use cases could be cited, from the sale of film frames to online fan screenings with NFT passes to a wide range of film meta and multiverses and games, to personal enthusiast activism, the new technology offers thousands of opportunities. The process has already begun, and we are at the seed stage of the widespread adoption of cinematic NFTs.

So, stay tuned!

What CHEYNI offers to the Film industry?

We would love to hear from you! Contact us to embark on a creative journey with CHEYNI, the Paris-based streaming collectibles platform. At CHEYNI, we bring together trend-setting content creators, audiences, and top brands to foster growth, connectivity, and monetization opportunities in the world of art and entertainment.

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Contact us today and let's revolutionize the way we engage with art, entertainment, and NFTs together. We look forward to hearing from you!



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