Warner Bros. is releasing a 10,999 NFT collection for the extended edition of Lord of the Rings: The Fellowship of the Ring that will include additional content not found in the DVD version. Hosted on the media-focused Eluvio blockchain, this move is not mistaken for an expensive JPEG cash grab but is a compelling use of NFT technology. By owning one of these special edition tokens, fans can forever access the extended edition of the world-renowned fantasy epic along with hours of special edition content without fear of misplacing or damaging a physical DVD.
While NFTs are terribly misunderstood due to 2021's epidemic of massively overpriced JPEG collectibles and various NFT scams, they are capable of a massive range of functionality. NFTs allow digital content to be stored in a scarce and ownable form that can be traded with cryptocurrency over a blockchain network. So far, hosting exclusive media content through NFTs has been difficult due to the limitations of general-purpose smart contract blockchains like Ethereum, as anyone can view and access the link to the media file itself. However, Eluvio is a blockchain explicitly built for NFTs that provide exclusive media content to their owners while retaining the ability to own and sell the tokens on the Ethereum blockchain and are tradable on standard NFT exchanges like OpenSea or Rarible.
As reported by Variety, Warner Bros. announced a drop of 10,999 NFTs for Lord Of The Rings: The Fellowship Of The Ring Extended Edition beginning tomorrow, Oct. 21. The collection will feature 10,000 Mystery Edition NFTs for $30 each, and 999 Epic Edition NFTs for $100 each, both of which contain the Extended Edition content found on the DVDs as well as unique content exclusive to the NFT collection. To participate in the sale, buyers must create an Eluvio blockchain crypto wallet using an Apple or Google account or a Metamask Ethereum crypto wallet and visit the Warner Bros. Web3 premiere page on the day of the sale.
What Kind Of Special Content Do The Tokens Offer?
Both editions offer access to the Extended Edition version of the film in 4K UHD, along with over eight hours of special features, hundreds of images and hidden AR collectibles. Additional content includes three explorable locations (The Shire, Rivendell, and the Mines of Moria) with location-specific artwork and behind-the-scenes image galleries exclusive to the token collection. The Mystery Edition offers one of the three locations chosen at random, while the Epic Edition comes with all three. In addition, both editions are fully compatible with the Ethereum blockchain and its decentralized application (dApp) ecosystem.
Thanks to NFT prices crashing, gone are the days of million-dollar profile picture cash grabs with little or no actual value to their buyers. Instead, innovation is required when creating and selling NFT collectibles. The end user must receive something of value from their purchase at a reasonable price. Warner Bros. seems to understand this situation and is making a bold move into the Web3 space with The Lord of the Rings NFT movie collection.
Sources: Variety, Eluvio 1, Warner Bros.