Forest Road Creating NFT Platform For Independent Producers; Trendy Digital Tokens That Jolted Art World Turn To Film IP

deadline.com:

EXCLUSIVE: Forest Road Company, the film financier and tax credit specialist, is creating an NFT platform to help independent producers as well as Hollywood studios monetize content.The firm said Tuesday that alongside its investors it will spend an initial $20 million to launch the platform using the latest blockchain technology to help content owners turn new and existing IP into NFTs – or non-fungible tokens – while increasing liquidity in the market.

The move comes a month after the artist known as Beeple whipped up an NFT media storm by selling an NFT work at a Christie’s auction for $69 million.

Art, music, sports and entertainment have all been sizing up and testing out the new medium.Forest Road financed or distributed over 550