LONDON, Aug. 3, 2021 /PRNewswire/ --EY today announced that the client CinTech, an Italian start-up operating in the blockchain industry, utilized EY technology to create unique digital assets known as non-fungible tokens (NFTs) for the 22 main scenes of an award-winning Italian film, La Leggenda Di Kaspar Hauser.
EY teams worked with CinTech to design a disruptive business vision for the entertainment industry to help filmmakers reach new audiences and drive additional revenue streams. EY teams supported the strategy and operations to define and create 62 NFTs using EY OpsChain, an EY blockchain as-a-service offering on blockchain.ey.com, in addition to supporting the planning of the sales process.
Giuseppe Perrone, EY EMEIA Blockchain Leader, says:
"This 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. It demonstrates the tremendous potential to leverage blockchain and truly exhibits how the technology can provide benefits across various sectors."
Renato Pezzi, and Jacopo and Nicolò Lucignano, Founders, CinTech, say:
"With this initiative, we are showcasing 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."