NFT Community Arabian Camels and Swapp Protocol have launched the “Antara Movie NFT,” which allows buyers to hold up to 50 percent intellectual property rights to “Antara,” a $50 million feature film based on the life of Arabian knight Antarah Ibn Shaddad.

Arabian Camels will partner with Swapp Protocol to produce the world’s first decentralised feature film production non-fungible token (NFTs) with decentralised finance (DeFi) capabilities. The idea behind partnering with Swapp Protocol is to enable decentralised finance products to eliminate the monetary risk associated with movie funding.

“My vision was to create a system to produce films that normally cost more than $50 million, completely risk-free,” said Alexander Amaratei, the producer of Antara. “In addition to eliminating funding risks, this system would allow films to be owned by the fans, the NFT owners.”

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Swapp’s NFT farming platform will allow Arabian Camel NFT owners to earn passive income on their NFTs. Farming enables the films to be funded, simultaneously providing a direct monetary benefit to those who support the project before the theatrical release. This paradigm shift moves the control of the industry away from traditional lenders and production studios and into the hands of individuals/fans who support the film, which Swapp coined.

“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 from the Arabian Camel NFT community will share in the ownership of the film, get roles in the movie, credit as producers, and join the production team for exclusive gatherings on the set in the Arabian Desert with the cast and crew.

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Arabian Camels has also collaborated with Dominic Ryder, CEO of vEmpire, whose token has recently rocketed 1500 percent and reached a market cap of $100M. Dominic Ryder’s protocol is in the process of 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 lofty knight. He rose to stardom in the 5th century due to his character and prowess on the battlefield and his miraculous talent as a poet. His poetry was held in such high regard that it was sewn in gold and suspended on the Kaaba in Mecca before the days of Islam. To this day, if one studies Arabic Literature in Oxford or Cambridge, the poetry of Antara is studied and revered.

– Murtuza Merchant is a former journalist who works at The Transform Group and takes a keen interest in the ever-evolving world of cryptocurrencies.

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(Edited by : Yashi Gupta)

First Published:Dec 14, 2021 1:10 PM IST