Arbitrum Foundation funds crypto-related film from Oscar-winning producer

Arbitrum ARB -3.81% Foundation has decided to finance a film project which promises to explore the world of digital art "through the lens of a new user falling down the crypto rabbit hole."

The foundation, an organization supporting the Ethereum Layer 2 network Arbitrum, announced on Wednesday its partnership with the new media company Dpop Studios and will help finance "New Here," a film that will examine how "artists are using new technologies like blockchain and AI to shape the future." The film will be produced, in part, by Shane Boris, who won an Academy Award last year for the documentary "Navalny."

"Just to look at what NFTs and NFT artists are doing more deeply, and see the possibilities of what this new mode of creation is capable of," said Boris during an X spaces on Wednesday. "We sort of profile those artists and thinkers within the space, but also in the film itself, where we’re experimenting with all different types of creative modalities and storytelling structure, and ideas of how to allow a film or piece of art to find, reach and create new audiences."

This is not the first time the world of filmmaking and crypto have intersected. Last year, Decentralized Pictures, co-founded by legendary director Francis Ford Coppola's son Roman Coppola, helped fund the film "The Quiet Maid," which secured much of its financing from the sale of NFTs.

Interacting with film series through NFTs

“The 'New Here' universe introduces an exciting new digital realm that connects entertainment with digital ownership in a way the media and film industry has yet to venture into," Arbitrum Foundation's head of ecosystem development, Nina Rong said in a statement. "Owning an NFT corresponding to a short series to unlock advancing viewing experiences has the potential to reimagine how media companies approach media  releases in a web3 world.” 

"New Here" is a feature film that is comprised of 11 short films that will be released throughout this year, according to the statement. An NFT collection called Glimpses can be claimed on Zora, a platform artists and brands can use to mint non-fungible tokens. "Glimpses are open-edition art pieces that will connect audiences to an interactive experience while viewing the 'New Here,'" short film series, the statement also said.