The movie is centered around a global pandemic and will be offered as a hybrid non-fungible (h-NFT) before it hits theaters.
“Lockdown” is an upcoming thriller movie set during a pandemic is set to hit theaters in November 2021. The gist of the movie is that an actor played by Kevin Leslie enters an audition where he is forced to take part in a series of tests that determine the fate of others in the room. The movie co-stars Xander Berkely along with supporting performances from Anita Chui, John Savage, Alix Wilton Regan, and Pamela Nomvete.
According to producer and director Bizhan Tong, “‘Lockdown’ is a commentary on the events of 2020 including our increased reliance on technology and the innovative ways in which it can be used. While we purposely eschewed making a ‘Zoom movie’ in favor of shooting on location to create a cinematic experience that feels both familiar and expansive, the use of NFTs fits with the themes of the film and the groundbreaking nature of our production.”
Hybrid NFT collection
Marvion Media is planning to release five limited-edition h-NFTs in the month leading up to the release of the film. Additionally, NFT tickets will be offered to the public for the chance to attend either the Hong Kong or the United Kingdom premieres.
Marvion Media Limited is a blockchain company that touts itself as the world’s first hybrid NFT company. According to Marvion, an h-NFT is “an integrated, best in class, a smart contract that can execute a transaction and also contains the specific legal terms of the intellectual property ownership and license.” Each h-NFT contains five key features. SPA for the purchase of the license, evidence of ownership of intellectual property, transfer deed for the transfer of the licenses to h-NFT holders, ownership titles, and image/video/music files. The idea is to bring together the digital metaverse and the physical experience of enjoying art or music.
In a press release, Marvion added that they “will be adopting their Hybrid NFT (h-NFT) format across all minted NFTs. The h-NFTs will undergo full know-your-client (KYC) and verification processes prior to Marvion.”
In a separate statement, the interim CEO of Marvion said that the company is focused on tackling one of the biggest concerns surrounding NFT ownership. Who owns the intellectual property (IP)? “Many NFT investors we have engaged with are unaware that as an NFT owner, they do not own the underlying IP associated with the artwork within the NFT smart contract.” In most cases, the IP continues to stay with the artist meaning that NFT owners have no right to take any legal action against intellectual property issues.
What do you think about this subject? Write to us and tell us!
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
