Veteran Film Director Spike Lee Makes Way Into The NFT Space

Legendary filmmaker Spike Lee has made a move into the non-fungible token (NFT) space after announcing an Ethereum artwork based on his 1986 movie, “She’s Gotta Have It,” Lee was speaking about how Web3 can have a major impact on traditional film financing. He also talked about allowing NFT holders to decide which film should receive funding.

This is coming after veteran directors Kevin Smith and Quentin Tarantino made similar moves to use NFTs to fund firms.

Lee says he is exploring the potential of using his IP in the Web3 space. He wants to achieve this through a new filmmaking platform known as The Visible Project. The platform will allow NFT holders to vote on the firms that will be funded. It will also open the space for young directors to showcase their talents.

3,945 Ethereum NFTs To Be Released

Lee, while speaking about the project at the Gary Vaynerchuk’s VeeCon conference in Minneapolis, stated that 3,945 Ethereum NFTS will be released for the project. These will feature till images where he portrays the character Mars Blackmon in “She’s Gotta Have It.”

Lee stated that his adult children Jackson and Satchel introduced him to NFTs, which represent proof of ownership for things like collectibles and digital artworks. Since then, he has become more knowledgeable in the field, interacting with artists and buying single-edition NFT artworks. He has also engaged in more homework and research to learn more about the MFT space.

“I think that to do anything in this world, to come on successful, you have to do some research to learn about it,” he stated.

Democratizing Film Funding

At 65, Lee has spent decades directing several top-rated films, but he admitted that the NFT space is new to him. Habitat Labs, a Web3 infrastructure startup, will power the Visible Project. Lee said the collaboration with the firm has given the project a chance to succeed.

The goal of the project is to democratize film funding using NFT drops to raise funds and allow token holders to decide which project they want to support.