The Bored Apes NFT collection is stepping into the Movie Business

Share Us

513
The Bored Apes NFT collection is stepping into the Movie Business
19 Apr 2022
6 min read

News Synopsis

The Bored Apes Yacht Club (BAYC) NFT collection is now ready to foray into the movie business. The company has signed a deal with Coinbase to launch a three-part movie series, tentatively titled ‘The Dengen Trilogy’. The cryptocurrency exchange platform has already kicked things off by sending out a casting call. The company has asked BAYC holders to submit their apes to be the stars of the film. The said movie is planned to take place in a ‘chaotic’ Midtown Manhattan. It is set at a time when digital goods and services are the primary measures of value in the market. In simple words, it will depict that fiat currency has been replaced by crypto-assets and non-fungible tokens (NFTs). 

As per the prologue of the movie, the scuffle between the old system and the new results in the emergence of new realms – the Dengens – “A new class of social adept, versed in the constantly re-invented tools of an ever-accelerating economy.” According to the official website, the owners of the casted apes will receive a licensing fee of $10,000 in either Apecoin or Bitcoin. The license will be a transaction, which gets recorded on-chain. This implies that even if the ape is sold in the secondary market, the license will be attached along with the ape. However, Critics have criticized that this licensing fee will mean the surrender of all IP rights with respect to the chosen apes for a one-time lump sum fee with no profit sharing.

TWN Opinion