The next Hollywood hit could be based on an NFT

Staring  Arnold Schwarzenegge, True Lies in 1994 ,was a huge hit, grossing nearly $400 million at the box office and was directed by freshman James Cameron but who remembered La Totale French version of the movie.

That’s the question on the mind of John Wick creator Derek Kolstad. In between writing Netflix’s upcoming Splinter Cell show, Kolstad is writing an eight-episode anime show based on Forgotten Runes Wizard’s Cult.

 Forgotten Runes is an NFT collection that launched last July and consists of just under 10,000 awesome characters. The question is simple: is it possible for a program based on NFT to be transferred to a general audience that may not even know what those three letters stand for?

Kolstad said “There’s real life and there’s what Web3 does, and there’s a divide between the two,” Kolstad said in a recent Zoom interview. “You [need] to bridge the gap by doing something good, something good that makes people say, “What is this? Is it based on something? What is this?’”

NFT collections, like the Bored Ape Nautical Club, typically feature thousands of different characters, as well as a loose story that ties them together. But NFTs are polarizing. Some have embraced them with enthusiasm, but many despise them. Those working in the industry are aware that interest is too limited in NFT adaptations of the market, such as a TV show, based on their crypto credentials alone.

“The number of [NFT owners] in a single collection it’s usually about 5,000,” said Bryce Anderson, a production executive at Clubhouse Pictures, which helped produce I, Tonya and Birds of Prey. “If that’s your audience, don’t ‘is enough to make a global brand. We talk about our TV shows, and it’s 500,000 people a week or they cancel you. That’s what you need.”

It won’t be easy. Much of the hype surrounding NFTs was generated by speculative bubble that enveloped the crypto market in 2021. The fall in cryptocurrency prices in recent months has calmed this speculative mania, dampening enthusiasm for NFTs. Despite the cold winds of the “crypto winter”, many creators are trying to prove that NFTs are here to stay.

Just as some developers and engineers left Silicon Valley giants to join the crypto industry, big-name creatives are exploring NFTs. The most prominent are the famous ones. Seth Green is working on a show that will star his Bored Ape Yacht Club NFT. Reese Witherspoon’s production house is working on a film and television universe for the World of Women NFT collection. Equally important are the artists and writers, who come from companies like Pixar and Marvel.

“You never know what something will become,” said Bearsnake, one of the founders of Forgotten Runes. Bearsnake declined to give his real name, but confirmed to CNET that he was a creative at an entertainment startup acquired by Disney. “Hello Kitty started as a vinyl purse. Did they know it would become… one of the biggest media franchises in the world? No, but it found an organic way to get to where it is now.”