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As blockchain technology continues to revolutionize various industries, including real estate, film, and music, new business models centered around cultural content are emerging rapidly.
One of the hottest topics in the blockchain industry today is undoubtedly the RWA (Real World Asset)-linked business model. This innovative approach, which tokenizes physical assets and connects them to digital assets, is gaining attention from global financial institutions and tech giants. Experts believe that the applications of RWA are limitless.
Among the many industries exploring RWA applications, the film industry is particularly active. Global projects are integrating the RWA model into filmmaking, covering production, distribution, and screening.
Wonki Choi, CEO of Nova Film
Against this backdrop, a groundbreaking overseas film RWA project led by a Korean film industry figure is drawing attention. The “Double N” project, spearheaded by Wonki Choi, CEO of Nova Film and a key figure in the production of the films Wild and Ashfall, is at the center of this movement.
Double N established as a local corporation in Indonesia to implement the RWA model in the Southeast Asian film industry. The project aims to expand into the global market by collaborating with local film industry professionals and companies. Its primary business partner is Punkvism, a team specializing in Web3 blockchain ecosystems, operating multiple projects utilizing RWA, NFTs, and digital assets.
To gain deeper insight into the film RWA project and Double N’s strategies, we spoke with CEO Wonki Choi about key issues surrounding the initiative.
Could you briefly introduce the Double N project?
Double N was born out of the idea of integrating blockchain technology into the film industry to create new value. We considered the possibility of digitizing both indie films and big-budget movies as assets. That is when we discovered the RWA model and became convinced that film IP, being a tangible asset, could be tokenized.
Indonesia is one of the fastest-growing film markets in Southeast Asia, attracting significant global investment. To gain a first-mover advantage, we established Double N as an Indonesian local entity and set forth the vision of building an RWA-based film ecosystem in Southeast Asia. We are exploring diverse applications, including film production, distribution, NFT issuance, and integration with Web3 gaming. Drawing from Nova Film’s experience in film production, we aim to create a new model that connects film and blockchain through Double N’s platform coin.
We chose Indonesia as our base because the Southeast Asian market is rapidly adopting blockchain and digital assets, positioning itself as a global investment hub. Our goal is for Double N to become the leading RWA-based entertainment project in Asia.
What notable films have you worked on?
One of the most well-known films I produced under Nova Film is Wild, starring Don lee. I also participated as a producer in several commercial blockbusters, including Ashfall. My experience spans various projects, from big-budget films to indie productions. Now, I want to leverage this expertise to build a new ecosystem where fans and investors can engage in the filmmaking process from its initial stages.
What role does the Double N project coin play?
The Double N coin serves two key functions. First, it facilitates token-based participation in film production and financial structure. Our RWA model will tokenize film shares, IP rights, and funding sources, enabling seamless digital transactions. The Double N coin will function as a core medium, allowing investors and fans to engage easily with film projects. This will make film financing more accessible and enhance the transparency of reward distribution.
Second, the coin will serve multiple utility purposes. This technology has potential applications in Web3 gaming that involve film and actor intellectual property, as well as for purchasing NFT movie tickets within the metaverse. Our goal is to create an ecosystem where digital assets extend beyond mere investment tools to become integral to content consumption. While Web3 gaming is still in its initial stages, we are collaborating with Punkvism to overcome technical and operational challenges. Just as Kakao Games built a robust platform in the Web2 environment, we aim to establish a sustainable and competitive Web3 gaming platform featuring unique actors and film IPs. In this Web3 gaming space, the Double N coin will play a vital role.
Through this project, we seek to bridge the film industry and Web3, creating an ecosystem where investors, fans, and creators all actively participate.
How do you plan to integrate film and the metaverse?
We intend to develop virtual theaters within the metaverse to screen independent and low-budget films. Viewers will purchase NFT-based tickets with Double N coins to enter. We believe metaverse screenings can complement traditional theaters and OTT services. Blockchain technology will ensure secure ticketing and copyright management. Numerous artists and independent filmmakers have expressed their interest, and we will gradually introduce case studies.
Which film will be the first to adapt the RWA model?
We are currently evaluating multiple films to determine the best candidate for our first RWA project. The key factors are whether the film excites investors and fans and whether it can effectively demonstrate the value of the RWA model. Some films in discussion are large projects, involving Hollywood studios. Initially, we will focus on high-profile films before expanding into various genres. If we successfully connect with major overseas studios, Double N could evolve into a global hub for film production.
What sets this film’s financial structure apart from traditional approaches?
Key investors or financial experts manage traditional film investment. However, tokenizing film assets through RWA allows anyone to participate with insignificant amounts while ensuring clear, traceable rights. This enhances transparency in profit distribution and enables coin holders to benefit from secondary and tertiary licensing returns. The biggest difference lies in blockchain’s ability to create an open, equitable investment environment.
How will RWA film investors receive returns?
Investors in RWA-based films will not merely hold tokens; they will participate in actual reward distribution. In traditional models, film returns are allocated following theatrical release or through distributor agreements. Double N, however, will leverage blockchain to ensure a transparent allocation process.
The first source of returns will be theatrical releases, with a portion of box office proceeds allocated to RWA investors. Beyond that, investors will also receive returns from OTT streaming, VOD sales, international distribution, and secondary licensing deals. Our system will facilitate sustained reward distribution, allowing investors to receive incentives for up to five years post-release. Following the period, an extra licensing incentive will be allocated to investors. The goal is to expand the value of film IP through RWA, ensuring a continuous reward stream for both investors and creators.
How will you navigate blockchain regulations?
Blockchain and digital asset regulations vary widely by country, so we are carefully monitoring legal frameworks. As RWA gains recognition within regulated financial ecosystems, we are ensuring compliance with relevant laws. The Double N coin will be issued in accordance with digital asset regulations in Indonesia, Asia, and the U.S., and we are closely tracking global regulatory trends. Additionally, we are implementing stringent AML (Anti-Money Laundering) and KYC (Know Your Customer) protocols to meet financial compliance requirements.
Final thoughts?
RWA is a community-driven business model. Unlike traditional film production, Double N fosters a community where investors actively support and promote their films. We want to create a space where fans, investors, and creators can share both financial success and meaningful experiences. We invite everyone to join us in pioneering the next evolution of film economic model through blockchain.
