Blockchain Startup CinTech Using EY Tech To Create NFTs For Italian Movie Scenes

Announcements, Blockchain, News | August 6, 2021 By:

Ernst & Young (EY) has announced that its client Italian blockchain startup CinTech has utilized EY technology to create NFTs for the 22 main scenes of an award-winning Italian film, La Leggenda Di Kaspar Hauser.

The two parties worked together to design a disruptive business vision for the entertainment industry to help filmmakers reach new audiences and drive additional revenue streams – creating 62 NFTs using EY OpsChain, an EY blockchain as-a-service offering.

Giuseppe Perrone, EY EMEIA Blockchain Leader, said that the project takes advantage of EY OpsChain to create non-fungible tokens on the Ethereum blockchain — a digital representation of each frame of the film.

“We are proud to support a new and innovative way of driving value for the film industry,” Perrone said. “It demonstrates the tremendous potential to leverage blockchain and truly exhibits how the technology can provide benefits across various sectors.”

According to CinTech, the initiative will showcase how digital content or assets can innovate business models by creating new revenue streams and financing sources.

“We plan to use a portion of the revenue from the anticipated sale of the NFTs to develop a documentary on the phenomenon of NFTs, production of new films, works of art and more,” CinTech added.