NFT-Backed Film ‘Project Iceman’ Tracks Antarctica Triathlon Attempt of Anders Hofman – Decrypt
A new documentary following “Iceman” Anders Hofman’s attempt to complete the first long-distance triathlon in Antarctica is being funded by NFT sales.
The crowdfunding raise for “Project Iceman” comes after the producers of the film turned down a $1.25 million offer from a major streaming platform on the basis that it afforded them “limited creative freedom.” Instead, the project aims to build a community around the film, with participants becoming “investors and digital owners of the film.”
The raise includes four NFT tiers, with perks including access to the film’s virtual and physical premieres, access to future events and NFT launches, and ownership of 10-second clips of the film itself.
Hofman’s effort saw him attempt a 3.9-kilometer (2.4-mile) swim in ice water, a 180-kilometer (112-mile) bike ride across a glacier, and a 42.2-kilometer (26.2-mile) run in Antarctic conditions, including blizzards.
Film and NFTs
“Project Iceman” is one of a number of projects using cryptocurrency, Web3 concepts such as DAOs, and non-fungible tokens (NFTs), to disrupt the film industry.
A number of films have launched NFT crowdfunding raises similar to that of “Project Iceman,” while indie film “Calladita” has been partly funded by the decentralized autonomous organization Nouns DAO, in exchange for a “product placement” deal that will see its NFTs featured in the film.
Film funding bodies such as Decentralized Pictures are adopting DAO-like structures to determine which projects will win funds; the Coppola-backed nonprofit recently teamed up with “Ocean’s Eleven” director Steven Soderbergh to launch a $300,000 filmmaking grant on the platform.
NFT collections such as Bored Ape Yacht Club, World of Women and CryptoPunks have secured Hollywood representation—a trio of Bored Ape Yacht Club short films backed by crypto exchange Coinbase already is in development.
Films are also being distributed as NFTs, including last year’s “Zero Contact,” starring Anthony Hopkins, and “Clerks” director Kevin Smith’s forthcoming “Killroy Was Here.” And NFT creators are exploring creative applications for NFTs—crypto artist pplpleasr’s Web3 video project Shibuya will give NFT holders a say in the creative direction of each project launched on the platform.
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This content was originally published here.