Clerks filmmaker Kevin Smith is set to sell his latest film as an NFT (non-fungible token).
The film, a horror enthology entitled Killroy Was Here, will be sold to the highest bidder, along with the rights to exhibit, stream and distribute the film.
NFTs have been discussed widely in the news in recent weeks. An NFT is a unique digital token that that functions as a digital certificate of authentication, and can be used to prove ownership of a specific piece of music, art, or merchandise.
The key selling point of an NFT is that it can’t be copied. You can read a fuller explanation of what exactly an NFT is, and why they’re suddenly so popular, here.
“Back in 1994, we took Clerks up to Sundance [Film Festival] and sold it,” Smith said, per Deadline. “Selling Killroy as an NFT feels very similar: whoever buys it could choose to monetise it traditionally, or simply own a film that nobody ever sees but them.
“We’re not trying to raise financing by selling NFT’s for a Killroy movie; the completed Killroy movie IS the NFT. And If this works, we suddenly have a new stage on which I and other, better artists than me can tell our stories.”
According to the report, Smith will retain no theatrical rights to the film after the auction, allowing the new owner to profit from any distribution deals.
While artists such as Smith and rock band Kings of Leon are turning to NFTs as a novel way of selling their creations, there remain some environmental concerns about the amount of energy that cryptocurrency technology uses.
A recent episode of Saturday Night Live explained what NFTs are by means of an elaborate Eminem parody song.