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AN NFT MOVIE “INFINITE MACHINE”

Versus Entertainment contacted Decentraland and Lumiere to develop NFT and metaverse-focused aspects for the movie “Infinite Machine,” which will focus on Ethereum founder Vitalik Buterin.

The film will be produced by Versus and Scott Free, the production company of renowned director Ridley Scott. The film will tell the story of Buterin and the world’s second largest digital asset, who commissioned the virtual land world Decentraland and Lumiere to develop crypto and NFT-based plots.

Decentraland, a virtual world powered by open source technology that allows other member users to expand their world. Lumiere, an entertainment specialist based in Hong Kong and Singapore, also supports the project by developing and integrating the movie experience into the Decentraland metaverse.

With a budget of $16 million, the film is expected to make it the first film ever funded by NFT. There are reportedly 10,499 uniquely designed NFTs in the collection of 36 new artists, including work by Lucas Riberiro, Marella Gonzalez, and Eduardo Calegari.

Russo added:

“We believe that Ethereum enables a world where users and viewers are now owned and participating, and so the movie ‘Infinite Machine’ should itself be a part of this movement and engage the Ethereum community in creating a movie about the platform,”

Proceeds from NFT sales will be split between 36 artists (22.5%), Infinite Machine DAO (10%) and overall movie budget (67.5%).

Decentraland Opens New Doors To Audiences

Francisco Gordillo, executive producer of the movie:

“It will be a project that will unleash Ethereum’s ecosystem potential to mainstream audiences”.

“We’re really proud that a company like Lumiere and Decentraland have chosen to develop an important film like ‘The Infinite Machine’,” said Alejandro De Grazia of Decentraland. “The connection between movies, their communities and the metaverse is already happening.”

Patrice Poujol, CEO of Lumiere:

“This is a case that could change how the entire industry develops and promotes its content to its fans and audiences,” he said.

Metaverse Collides With Corporate Culture

The corporate world is starting to embrace the metaverse by purchasing NFTs of their virtual estates on the blockchain where they can create virtual infrastructures in Decentraland for their existing brands.

JP Morgan

For example, JPMorgan’s “Onyx Lounge” enables the Wall Street giant to run a virtual bank within its metadata warehouse. In a recent report, JPMorgan embraced the idea of ​​virtual gaming in the global economy.

Many aspects of virtual worlds reflect the global economy, focusing on factors such as population, gross domestic product, in-game currency, and digital assets that, according to the bank, directly feed JPMorgan’s core competencies.

Cross-border payments, foreign currency asset creation, trading and custody, as well as other aspects, including the ability to serve clients at scale, are competencies that JPMorgan believes will translate well when moved to a virtual world.

Forever 21

The metaverse for retail fashion chains, including Forever 21, is a good opportunity to further drive e-commerce and then new revenue streams.

In December, Forever 21 entered the metaverse by opening a virtual store on Roblox. Users will be able to purchase furniture, clothing and accessories for their avatars.

During Metaverse Fashion Week in March, Forever 21 was one of the brands, in addition to Estee Lauder, who opened a virtual store by renting 450,000 square feet of virtual land in Decentraland. Forever 21’s virtual store allows users to interact with affiliates and even purchase NFTs.

Winnie Park, CEO of the fashion retailer:

“We embraced the growth of the Metaverse as we continued to collide with culture,” he told The Wall Street Journal.

Prager Metis

In December, Prager Metis became the first CPA firm to officially open its headquarters in the metaverse by purchasing a three-story building in Decentraland. Through a joint venture with Banquet LLC, Prager Metis’ metadatabase office currently provides real-world services critical to the metadatabase world.

New-York accounting firm Prager-Metis International LLC announced that it has opened a virtual building in Decentraland on January 7, 2022. The company acquired the three-story building in partnership with Banquet LLC on December 28, 2021.

Glenn Friedman, CEO of Prager Metis:

The opening of a metadata warehouse office reflects Prager Metis’ belief that metadata will be the future and technology will continue to influence the way the world works.”

Our new Metaverse hub will act as a bridge between traditional and digital and provide valuable real-world financial services for the metaverse. Our presence in the meta-universe demonstrates how serious we are about our vision for the future and supports our belief that there is a tremendous need for financial expertise and resources in the evolving digital world.

According to the firm’s press release, the first floor of the building offers meeting rooms, conference facilities and rooftop space for live events to showcase clients’ NFTs.

PwC

PricewaterhouseCoopers bought a piece of land in The Sandbox in January.

Developed by game studio Pixowl, The Sandbox is a sandbox game for mobile phones and Microsoft Windows, and was eventually acquired by Animoca Brands in 2018.

Animoca has since used the name “Sandbox” for a new blockchain-based open world game that sells NFTs representing virtual real estate spaces and has raised over $2.5 million in funding for the development of the project.

PwC’s Hong Kong division did not say at the time why the acquisition was made, but comments by PwC’s crypto chief Henri Arslanian in July 2021 hinted that the firm could use its digital property to access and invest in a smaller but promising one.

A recent Citigroup report revealed that the metaverse economy could be between $8 trillion and $13 trillion by 2030.

RELATED : NFT COLLECTION GOBLINTOWN IS NOW WORTH OVER $50 MILLION

 

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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