It was announced the other day that the premiere of the new film starring Oscar-winning actor Sir Anthony Hopkins will take place in the form of NFT via the Vuele platform. For the connoisseurs, none of what is included in the previous sentence is impressive, except for the original thing, since NFTs have long been used in the world of art and natural products. But what are the NFTs and what does it mean to do now with Anthony Hopkins' new film, which at 83 will be recorded, not in some brilliant new page in the history of the big screen but in the history of finance?
As those who have read and understood the recent news about the theft of 35 million dollars in cryptocurrencies from a Belgian company whose director made the complaint in Cyprus where he resides know, the NFTs are the Non-Fungible Tokens. While a currency, e.g. of one euro can be exchanged with any other one euro coin without any discrimination, hence it is characterized as fungible, a e.g. A work of art or a booking at an event or even a plane ticket is not fungible because it is not indistinguishable. They are distinct, unique and concern exclusively and nominally only their owner / owner.
At the moment, the global NFT market is reaching $ 2.5 billion and is growing rapidly through the use of Ethereum technology and other similar Blockchain mechanisms that enable the chain-linking, recording and confirmation of the exchange and ownership of any unique acquisition. A painting, for example, or a bottle of wine or… a movie… or even part of it! A creation that can be collected, basically, like the one starring Anthony Hopkins. So instead of going to any movie theater or Amazon Prime platform and buying a ticket to watch the movie or download it and watch it on your TV, you can buy it on the Vuele platform. io and see it and sell it to someone else who wants to take part, e.g. at an auction. Also, and specifically for Anthony Hopkins's film, the customer will have access to a host of other content, such as e.g. collectible souvenirs, non-projected scenes, “behind the camera” scenes and various others that interest the friends of the Seventh Art.
Those of you who are thinking of the implications of the above event as you read the text, have already realized the shocking thing. The form of ownership of objects, materials and intangibles is changing. Confirmation of their possession also changed. The deed and the post-transaction, the trade itself changed. The very creation and ownership of tangible and intangible objects and their identification with money (digital and traditional) is changing. We are not just talking about cryptocurrencies that are being tackled by scholars, “revolutionaries” and “adventurers”, businessmen, criminals and swindlers. We are talking about the coupling of the “natural” world with the internet, where a tangible object is quantified and priced and held digitally and physically.
In this world our children grow up. In this world they will work and in this world they will be called to raise our grandchildren. And this world, of a truly new and uncharted economy, is not a product of science fiction, nor is it in the laboratories of a university or in the mind of a philosopher. It is already in the market, in the “bazaar” around us. With us. One click on our mobile.
This is what I was thinking when I was watching the public debate in Cyprus at that time, some decisions of the Minister, some appointments, some statements of politicians and parties, some comments in the media, some announcements of banks and companies. How far behind we are unfortunately from what is really happening in the world…
