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" ... A number of issues will need to be resolved in order to convert film clips to NFTs. The first issue is whether the studio owns clip rights; i.e., did it own them to start with or have they already been licensed to a third party? The next issue will be whether the consent of actors appearing in the clips is needed to waive their right of publicity, and this will depend on the scope of rights in their acting agreements. Unless the actor’s contract granted clip rights, it will be necessary to obtain the actor’s express consent and to pay a minimum reuse fee set by SAG. In addition, minimum reuse fees will be owed to the director and the writer under the DGA and WGA Basic Agreements. If the clip includes music, it may be necessary to obtain the permission of the owners of the copyright to both the written and recorded music unless they granted synch rights for film clips. The payment to the studio itself from the sale of NFTs or the license of NFT rights may trigger participations owed to any talent that share in the profits from the film if clip right fees are included in accountable gross receipts. ... "
" ... Although at a pre-revenue stage, Noops has drawn strong investor interest as it recently closed a $2 million funding led by 25Madison, with participations from Unovis/New Crop Capital, and Siddhi Capital. ... "
" ... Deferments and participations paid to talent are not included in the budget. For example, if talent is paid $20 million up front, that amount will be included in the budget. On the other hand, if talent foregoes the upfront payment of $20 million in exchange for a much larger, albeit contingent, deferment or participation, the budget will be reduced by $20 million. This, in turn, will have the completely crazy impact of reducing the amount that the film can be sold for because of the budget/sales corollary. ... "
" ... Keep It Simple. If you can keep your deal simple, do it. Complexity means more legal work and more risk of mistakes. Try to stay away from deal elements that tend to get complicated, such as profit participations, rights of first offer or first refusal, special provisions for weird hypothetical eventualities, deal structures that are designed to echo or replicate other deal elements, multiple interacting waterfalls, complex exceptions and alternatives, creative new ways to do things that everyone else has always done a certain way, and so on. That’s particularly true for deal elements that will probably never activate and never have much practical or economic value. ... "
" ... The funding round was co-led by BrandProject and Courtside Ventures with additional participations by AF Ventures, Round 13 Capital, Barrel Ventures, and the founder of global sports agency Polaris Sports. ... "