The singer Kanye West is reportedly ready to the return to the Middle East next month for a film project.
Sources quoted by The Hollywood Reporter say the rapper has had teams scouting Abu Dhabi, Dubai and Doha over the past week.
"They did a full round of meetings, speaking with various government agencies, institutions and private investors," the source said. "They toured each area and met with all the major players."
The source said there was a "pretty intense bidding war" in progress.
The film is said to be about 30 minutes long, between a music video and short film.
It sounds similar to the arthouse film Runaway starring the Victoria's Secret model Selita Ebanks, which was launched in the build-up to the release of West's My Beautiful Dark Twisted Fantasy album in 2010.
The script was apparently conceived by West to be set in the region, and designed to show its natural beauty while remaining culturally sensitive and embracing customs and traditions.
To keep the authentic feel, he will reportedly be moving a creative team to the region "for a few weeks", claims the source, and plans to use "as much local talent and crew as possible".
Stories suggest West's love for the region grew after he played at the Abu Dhabi Formula One Grand Prix on Yas Island in 2010.
His most recent trip is believed to have been in December last year when he played a private party in Dubai with Jay-Z.
West has not confirmed the coming trip, but a member of his team told The Hollywood Reporter he was in the Middle East last week.
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What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
About Proto21
Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group
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