World’s First Movie Score & Soundtrack For Sale As An NFT [EXCLUSIVE]

adminMay 4, 2021

World’s First Movie Score & Soundtrack For Sale As An NFT [EXCLUSIVE]

Gregg Leonard’s score for Relativity Media’s TRIUMPH is the world’s first NFT movie soundtrack, resulting in the sole ownership of the intellectual property of a movie.

The latest NFT innovation to be released is the soundtrack of the TRIUMPH feature film. Although NFTs have become somewhat more common in recent times, this one is slightly different from others. Not only does it represent a more direct connection between the buyer and the original artist, it could also mark a change in the way NFTs are packaged within the wider film industry. It is the world’s first NFT for a feature film soundtrack.

Non-fungible tokens have started to become big business following recent sales by high-profile individuals and companies. Unlike traditional purchases where a buyer typically receives something physical or a copy of something digital, NFTs are neither. NFT purchases are different in that they relate to the transfer of ownership of something digital. Specifically, digital property on the Ethereum blockchain. Unlike a physical purchase, nothing ships or changes hands with an NFT. Also, unlike a digital purchase, an NFT is not a copy of anything. In fact, it is a one-time digital purchase and this is what creates value for buyers. Not to mention, the approach makes it easy for almost anything digital to be sold as NFT, including a soundtrack.

Related: Why SEGA Fans Are Upset With NFTs

Produced by The MAP Group, Digital Ignition Entertainment and Argonaut Entertainment Partners, TRIUMPH stars RJ Mitte and Colton Haynes, and is inspired by Michael D. Coffey’s true story of a high school senior who struggles to become a wrestler despite having cerebral palsy. Relativity Media, in association with United Cerebral Palsy and Cinemark Theaters have confirmed the launch of TRIUMPH in theaters today. The film will also be released on VOD in June. To coincide with the theatrical release, the score for the film NFT has also been released. Composed by Gregg leonard, the NFT soundtrack gives fans of the movie industry the option of owning a unique part of the movie making process.

The score for TRIUMPH It lasts over 80 minutes and an NFT has not only been created and validated for the score as a whole, but also for five separate themes used in the score. The NFTs have been validated by NFT validator, use the validation engine UREEQA, and represent an industry first, possibly paving the way for similar transactions to take place in the future. In Leonard’s own words:

“Whether you have a franchise, a catalog you need to protect, or an independent artist who needs to fund your project, NFT minting and validation give you the ability to explore creative options for both funding and creation.”

What makes these movie-related NFTs different?

NFT Ethereum Bitcoin

Until now, movie-related NFTs have tended to focus on digital collectibles, but that’s changing. For example, the independent film Friday It recently became the first movie ever sold as NFT and it is understood that Kevin Smith is preparing the option for a buyer to buy. Killroy was here as NFT. Although the collectibles are related to a movie, and the Friday/Killroy was here NFTs are related to the general rights to a movie, the sale of the Triumph soundtrack as NFT is somewhere in between. Essentially, it represents the opportunity for an artist to control the rights, distribution, and even monetization of their individual and unique contribution to a film. In this sense, it is separate from the movie itself.

From the artist’s point of view, this could be a remarkable development within the world of NFTs. In addition to the monetary value associated with a sale, it is a way for an artist to receive recognition for what they have created without it being included with another product, such as a movie. While it is no different than an artist selling a painting as an NFT, it is different in that an individual contribution is recognized and sold directly as a product.

Next: How NFTs are affecting the world of comics and art collecting

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