Kevin Smith: New Movie Released as an NFT; Now What?

by Jestin Davis

041621E-300x157 Kevin Smith: New Movie Released as an NFT; Now What?Most comic book collectors are familiar with Kevin Smith due to his involvement in writing comic books, his show Comic Book Men on AMC, and his comic book podcast Fatman on Batman, among other things. It appears that Kevin will be entering the world of non-fungible tokens, as a recent article points out that his newest movie release will be exclusively sold as an NFT to the top bidder. What really intrigued me was the fact that the new owner of the movie will have all the rights to distribute and therefore monetize the movie.

NFTs in general, to me, are hard to put a value on or put a lot of money behind due to the unknown intrinsic value of them. It is hard to say what painting or comic book will be the next piece of art to skyrocket in price. In the same way, it’s hard to say what NFT will increase in value. However, in the case of the Kevin Smith NFT, the movie ‘Killroy was Here’ has value in distribution right away, whatever that may look like. If you were the top bidder on this NFT, the possibilities to distribute are nearly endless in today’s interconnected world.

This feels very similar to water or oil rights on certain properties you can purchase. Or even buying a dividend-producing stock that can generate future income. I initially wrote off NFTs when I first heard about the concept. However, having distribution rights really got me thinking more regarding their future value. This also made me think about the future of the physical collectibles industry.

What Does This Mean For Real Assets and Collectibles?kevin-smith-kilroy-was-here-e1618675320149-286x300 Kevin Smith: New Movie Released as an NFT; Now What?

Does hearing about cryptocurrency and NFTs has you fearful for the future of collectibles that you can hold in your hand and other real assets you can touch? I wouldn’t go selling off your entire collection just yet. There are countless examples that I can point to in order to make my point regarding the value of a true physical asset, but let’s think about an example that most everyone can relate to.

If you drive or have driven a car, you are operating a piece of technology that seemed like science fiction many years ago. The main mode of transportation, back in the back, was a horse, followed by a horse drawn carriage. When the automobile took over as the transportation means of choice, what happened to all those beautiful horses that people relied on years prior? Did people suddenly stop riding horses all together? The answer is no, they did not.

What DID They Do?

When people were able to use a motor vehicle to travel, the equestrian market shifted from a utility to a luxury market for the most part. People that still enjoyed riding horses and had the means to do so, would go horseback riding as a means of entertainment, fun, and even investment. Even to this day, owning a horse is considered a luxury and something that wealthy individuals do. So, if all of our print materials eventually goes digital, my theory is that people will continue to read and collect paper. The paper that is out there will be worth more when less is circulating in the world. There will always be an investment and collector market for physical assets. Will the four Cs (Cards, Comics, Coins, & Currency) always hold value? I don’t know the answer to that, but I do know that people still ride horses!

What do you think? Did Kevin Smith make the right call?

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2 comments

Jason Kokotoff April 20, 2021 - 2:39 pm

I really do not understand the concept of this. Why is an NFT even part of the transaction? Can’t Kevin Smith just straight out sell the distribution rights to the film? What is the NFT component? Why is it even necessary? These are honest questions, not cynical ones. I’m trying to wrap my mind around the whole NFT phenomenon to better understand its appeal.

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Jestin Davis April 21, 2021 - 9:28 pm

Yes I think he could sell the rights, but in all reality this draws attention to him and his brand as well as makes it more of a public offering rather than selling distribution rights to typical outlets. I admit I don’t full see it either.

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