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Arabian Camels launches NFT giving 50% of IP rights in feature film

Moneycontrol logo Moneycontrol 14-12-2021 Jocelyn Fernandes
Arabian Camels launches NFT giving 50% of IP rights in feature film © Jocelyn Fernandes Arabian Camels launches NFT giving 50% of IP rights in feature film

Arabian Camels, an NFT community that’s creating a Hollywood movie, has launched an NFT (non-fungible token) that allows buyers to hold up to half the intellectual property rights to Antara, a $50 million feature film based on the life of ancient Arabian knight Antarah Ibn Shaddad.

Arabian Camels introduced the Antara Movie NFT in partnership with Swapp Protocol in a bid to decentralise film ownership and eliminate funding risks associated with film production. An NFT is a virtual asset that confirms ownership over a real-world or digital item including art, collectibles, music, and videos.

The two partners will produce the world’s first decentralised feature film production NFTs with decentralised finance (DeFi) capabilities. Swapp is a community-driven DeFi protocol built on the Ethereum blockchain.

DeFi, is a form of funding that does not rely on intermediaries offering traditional financial instruments and instead uses smart contracts on blockchains.

Tying up with Swapp Protocol will enable the use of its decentralised finance products to eliminate monetary risks associated with movie funding.

“My vision was to create a system to produce films that normally cost more than $50 million completely risk-free,” Alexander Amaratei, the producer of Antara, said in a statement dated December 9.

“In addition to eliminating funding risks, this system would allow films to be owned by the fans, the NFT owners. This feat would not have been possible without Swapp’s innovative NFT farming capabilities and blockchain/cryptocurrency knowledge and platforms,” he added.

This shift in the production model is expected to move control of film-making away from traditional lenders and production studios into the hands of individuals and fans who support the film. Arabian Camel NFT owners can earn passive income on their NFTs. Swapp’s platform allows films to be funded and simultaneously provides a direct monetary benefit to those who support the project before their theatrical release.

“With the power of community, speed of the internet, and dexterity of DeFi, we are generating a tectonic shift that will create waves of opportunity in the film industry,” said Tural Bayev, CEO of Swapp Protocol.

Members of the Arabian Camel NFT community can share in the ownership of the film, get movie roles, credits as producers, and join exclusive gatherings on the set in the Arabian Desert with the cast and crew.

Arabian Camels has also collaborated with Dominic Ryder, CEO of vEmpire, who is designing and creating the ANTARA Play-To-Earn game.

Antarah Ibn Shaddad was a black slave in ancient/pre-Islamic Arabia, who won his freedom and became a knight. He rose to stardom in the 5th century, becoming known for his prowess on the battlefield and also his talent as a poet. Even today, students of Arabic Literature in Oxford or Cambridge study the poetry of Antara.

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