Cinedigm (NASDAQ:CIDM), a distributor of various movies, television and other digital content, managing a library of distribution rights to several thousand titles and different episodes launched across digital and mobile entertainment media platforms announced the release of Fandor Selects, a latest NFT-based movie label focusing to launch exclusive editions of essential classic, contemporary and global cinema. The Company is using the acquisition of Fandor, the mainstream worldwide independent movie subscription streaming service, which the Wall Street Journal titled as “The Netflix for Indie Film,” emphasizing upon its lucrative nature.
At last check in premarket trading, shares of Cinedigm Corp. (CIDM) soared 4.96% at $1.27. CIDM stock closed last session at $1.21, declining -7.63% or -$0.1. Shares of the company fluctuated between $1.21 and $1.3199 throughout the day. In the past 12 months, the company’s stock has advanced 137.25%, and in the last one week, the stock has moved down -19.87%
Fandor Selects is anticipated to be released in summer of 2021, and will launch each film as a collection, which will be inclusive of high-definition, restored transfer from the classic 35mm film elements in 2K and 4K, various interviews and commentaries, as well as exclusive stills, GIFs, original and unorthodox posters from several artists with a huge fan base, with all items in the collection demonstrated as NFTs. Each bundle will be extremely exclusive and limited addition as well as be economical to make collecting films easier for conventional customers.
The collections will be obtainable on the leading NFT collectibles market, such as Rarible, Opensea, and several others, allowing consumers to truly acquire and control their digital film assets. For the launch in the first month, Fandor Selects™ has selected two classic titles focusing on the Company’s strength in Westerns and Film Noir:
The chosen classic titles include, The Capture (1950) which was directed by John Sturges and featured Lew Ayers, Teresa Wright, and Victor Jory. The film depicts one of the primary cases of the “Western Noir” style of storytelling. A Life at Stake was also launched, which was directed by Paul Guilfoyle and featured Angela Lansbury and Keith Andes, which was Originally distributed in 1955 by Gibraltar Motion Picture
Fandor Selects is focusing to preserve and secure film and television properties from its large-scale film and television archive saved by the Academy of Motion Pictures, the UCLA Film & Television Archive, and the Warner Brothers Archives and will also work with present suppliers with significant IP to launch under the label. CIDM intends to integrate further NFT features which may include loyalty and direct marketplace capabilities in the upcoming quarters.
Managing a library of distribution rights combined with the launch of an NFT based movie label has peaked investor interest for CIDM. High consumer orientation towards the NFT trend has immensely increased potential sales to sky rocket with CIDM stock rising substantially at last check.