Production house, Lekh-Haq recently announced that it has listed the short film titled “For Those That Watch Me Dream” as an NFT on OpenSea, which is one of the worlds largest NFT marketplaces.
For those who don’t know what NFT’s are – NFT or Non Fungible Tokens are irreplaceable and immutable digital assets and digital collectibles that can be anything from an Original Artwork, Music, Video, Animations or anything digital where these assets, once they get converted into an NFT, they become irreplaceable and cannot be duplicated or replicated. The reason being, NFT’s are able to hold additional data or information that can trace the ownership of the NFT on the blockchain. Once, a digital asset is tokenized as an NFT, they can be sold on NFT marketplaces like OpenSea, Rarible and many others.
Currently, the Short Flim “For Those That Watch Me Dream” is listed on OpenSea with a starting bid price of 0.3 ETH. There’s still more room for bidders to increase the price of the NFT.
In additon to the digital version of the NFT, the highest bidder will also get the “Collectors Edtion” of the film in a marble box having the DVD inside the box. He will also get the hand painted poster of the film although, the production house will still hold the right to the move.
The Film was directed by Terence-Hari Fernandes, and the film was listed on the platform during the first week of April. Although, the listing hasn’t received much offers, the team hopes to see the NFT scale up in the future as the word of the film spreads across the internet.
As Fernandes says “We do have ambitions that are sizeable, but if someone is able to buy it at $700-800 that would be good. However, we hope that as we scale up, the resale of collector’s edition of the film will be higher. What we are looking at is easy level entry for Indian investors. The idea is to sell the movie at around 0.3 ethererum and, tomorrow, it might have a resale value, which will be higher,”.
Production house, Lekh-Haq was also a part of the Indiarath’s first cohort of nine startups with the co-founder being Terence-Hari Fernandes. The company has produced 6 short films, they include Doori and Starchild and Goodbye Love.