What is NFT?
Stands for “Non-fungible Token” means it is unique and can’t be replaced with something else
NFTs are “one-of-a-kind” assets in the digital world that can be bought and sold like any other piece of property and it gives you a certificate of ownership for the traded asset (can be an art painting, a digital photo, or a movie.
How NFT works?
With NFTs, any asset (physical or digital) can be “tokenised” and stored in a decentralised ledger known as blockchain to create a digital certificate of ownership that can be bought and sold.
Why do we need NFT for a Movie
There is no central agency that keeps track of movie rights sold and the current system relies on paper contract which does not hold good for modern cinema
free of cost to buy or sell movie rights