Warner Bros. is doubling down on Web3 with the launch of a new movie non-fungible token: the 1978 Superman film starring Christopher Reeves. The movie NFT will come at two price points, $30 and $100, and features a variety of special features, including behind the scenes footage and special artist renderings. The drop will have two components:
- The Standard Edition: $30, including an interactive location-based menu, previously released special features, and behind-the-scenes still shots. On sale from 8 am June 9th until 7:59 pm June 16th.
- The Premium Edition: $100, including three different variations (Truth, Justice, and Hope), illustrations of Christopher Reeves’ Superman from three DC artists, an interactive menu, and three versions of the feature film. Available from 8 am June 9th until 7:59 pm June 10th.
The drop will take place on Warner Bros. NFT marketplace, which runs on the Eluvio blockchain. Eluvio is known for its proof-of-authority consensus mechanism, which reduces its carbon footprint significantly compared to proof-of-work blockchains.
“For fans of this beloved and iconic film, Superman: The Movie is being released as an exclusive Web3 film and immersive digital collectible for the first time,” Michelle Munson, CEO and co-founder of Eluvio, said in a statement shared with Rarity Sniper.
In addition to receiving the film as a non-fungible token, collectors will be airdropped a free voucher that they can redeem three Superman comics. The comics come with rarities from Common to Legendary and will be available on the DC non-fungible token marketplace.
To purchase the Superman movie NFT, customers can create a media wallet, which acts as a digital vault. This will enable them to purchase the NFT using cryptocurrency or a credit card.
Warner Bros. Turning IP into Web3 Assets
While many companies have entered Web3 in the past couple of years, Warner Bros. is one of the only movie studios to do so. And it has done so with a novel approach: turning its IP, especially films, into non-fungible tokens.
Eight months ago, it debuted its first movie NFT — The Fellowship of the Ring from the Lord of the Rings trilogy. Like with the Superman film NFT it is launching, The Fellowship of the Ring NFT came with certain features like different navigation menus and special features. At the time, there was even talk of Warner Bros. creating a more gamified experience with its LOTR NFT.
In addition, it has launched non-fungible token comics, including those featuring Batman and Superman from the DC universe. It has also debuted Looney Tunes NFTs as special profile-pic non-fungible tokens, ones that were said to have many IRL benefits, like access to special events, rewards, and games.
As DVD sales fade due to the rise of popular streaming services, some film studios have experienced a drop in revenue. That may be one of the reasons Warner Bros. is turning to Web3, though it is certainly innovating within the field as well. At Rarity Sniper, we’ll be following up on any new developments in the story.