LOS ANGELES, April 8, 2021 /PRNewswire-PRWeb/ -- Dream Channel, a science fiction film directed by XR crypto-artist KgrindJonny (also known as Jonny Peters), today announced the world's first NFT (non-fungible token) sale of a multi-platform film.
Dream Channel is an episodic multi-platform film where each episode consists of a VR film, a traditional 2D film and persistent immersive world with virtual real estate. The film is being sold through a similarly-named NFT platform DreamChannel.io, a purpose-built NFT platform for immersive media, and on a second NFT financing platform, Dream Frames, a new NFT platform for financing feature films.
Dream Channel is the proof of concept for its immersive NFT platform, DreamChannel.io, where each episode of the franchise story takes place in a designated sector of an immersive story world. Dream Channel will 'drop' one sector of the story at a time as an NFT, selling scenes, characters and virtual real estate each time.
Dream Frames, the second platform, offers an NFT monetization and financing solution for traditional feature films by allowing investors to buy frames or clips of a film, stake them (lock them up) in the film's smart contract and receive a daily interest payment in the form of the film's designated cryptocurrency. Earnings can then be converted into film royalties by accredited investors.
Already proven as a model for art collecting, films are the next evolution of crypto-art NFTs. Via blockchain technology, investors can now collect and trade "moments" in film (in the form of frames of the film or entire clips) by purchasing an NFT that proves ownership of the unique original work. "You can sell films now as collectible frames, in blocks (seconds and minutes), whole scenes, or even more exciting, as fully immersive VR scenes where you as the owner can literally stand in them and have the actors talk to you like you are in the movie," Peters commented.
Peters' DreamChannel.io platform allows investors to own and trade not only media clips, but also authentic characters from media properties such as movies and games. This initial token sale, for example, offers 32 3-D holographic fighting characters from the Dream Channel film, marking another world's first as the first movie character NFT sale.
Peters commented, "We developed an entire DEFI financing model for films based on fans being able to own and trade not only the film itself, but also authentic characters from the movie. For the Dream Channel film, the cryptocurrency earned is Gaze Coin. Investors and fans alike may trade tokens or use them to unlock other things inside the film's immersive world. This is the future of film." Gaze Coin is an established ERC20 token cryptocurrency launched in 2017.
"This is a chance for leading-edge investors to own Dream Channel Episode 1 Genesis NFTs that are the foundation for the entire story. These Genesis NFTs can be staked (locked up) in the film's smart contract to earn premium returns. Accredited investors can also redeem coins earned to claim royalty tokens," Peters explained.
The Dream Channel Genesis NFT sale was featured at the FutureArt expo in Sydney, Australia, on Easter Sunday.
The Genesis NFT sale is as follows:
22 separate VR scenes of the 42-minute Dream Channel VR feature film (Episode 1)
70,500 film frames of the 47-minute Dream Channel traditional 2-D film (Episode 1)
32 3-D holographic fighting Dream Channel characters
212 virtual apartments in Sector 1 (most valuable Genesis sector) of the Dream Channel immersive world
The Dream Channel VR film, 2D film and associated virtual world can be viewed at https://dreamchannel.io.
For further information on the Dream Channel NFT sale, please visit https://dreamframes.io/.
For further information on KgrindJonny, please visit https://instagram.com/kgrindjonny.
About Dream Channel:
The brainchild of Australian XR crypto-artist and film director, KgrindJonny (a.k.a. Jonny Peters), Dream Channel is an XR entertainment franchise that first premiered at the Cannes Film Festival VR Cinema Pavilion in 2016 as a pilot. Dream Channel is now an interactive narrative-driven choose-your-own-adventure story in which gangsters buy and sell dreams in a virtual world called "The Dream Channel", a world monetized by the cryptocurrency Gaze Coin. Dream Channel is the world's first immersive media series (traditional and VR film franchise and persistent immersive XR world) funded by NFTs. For more information, please visit https://dreamchannel.io and follow Dream Channel on Instagram @dreamchannel.
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SOURCE Dream Channel
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