Oracle Movies: The country's first NFT movie marketplace promises to be a boon for producers

With an aim to bring about a radical change in the functioning of the film business, entrepreneur Senthil Nayagam and film producer G K Tirunavukarasu have joined forces to come up with the country's first NFT Movie Market Place, Oracle Movies. Non-fungible Token, popularly referred to as NFT, allows producers, production houses to buy/ sell movie rights using blockchain technology.

NFT is irreplaceable and prevents malpractices, offering a secure environment for stakeholders. Oracle Movies, to begin with, will extend its services to Tamil, Telugu, Malayalam, Kannada, Hindi and English film producers and soon be expanded in other languages across the country.

Oracle Movies promises to bolster the business of Indian movies, opening them to a traditional global market besides helping international films release, be dubbed and remade in the Indian market. They will aid producers in moving beyond paper contracts and also serve as an avenue that keeps track of movie rights.

Vijay Dingari, COO, Oracle Movies, believes that content is truly the king. "While OTT platforms are hunting for the right content, producers are looking for the right platform to sell their content and we're here to bridge the gap," he says. The platform would help producers get the right price for their content, Vijay adds.