In The Mood For Auction: Wong Kar-Wai ‘s First NFT Available At Sotheby’s

Legendary Hong Kong director Wong Kar-Wai will be minting an “In The Mood For Love” NFT soon. Revered fine art auction house Sotheby’s will broker the deal. The NFT will contain never-before-seen footage from the first day of filming. How rare does that make it? Considering “In The Mood For Love” is one of the most critically acclaimed films of the century, what does this mean for the NFT space? What does it mean for Asian cinema?

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So far, this trailer for the whole event is all we have:

In the description box, Sotheby’s presents its Modern Art Sale in Hong Kong:

“Celebrated auteur Wong Kar Wai will bring his avant-garde aesthetic to Sotheby’s this October. The first Chinese filmmaker to win Best Director at the Cannes Film Festival, Wong’s sensuous cinema embodies the spirit of Modernism so it is only fitting that we will be working together on our Modern Art Sale in Hong Kong.“

Every time film critics vote, “In the Mood for Love’s” name appears among the best films of the century. Its reputation has only increased since the movie’s 2000 release. Along with Wong Kar-Wai ‘s “Days of Being Wild” and “2046,” “In the Mood for Love” is part of an informal trilogy. And now, a lucky soul can own a digital representation of unreleased footage from the movie. In it, the two main actors play different characters than those in “In the Mood for Love.” How rare!

The auction house describes the item as:

“The star lot of Sotheby’s Modern Art Evening Sale on 9 October is the debut of Wong Kar Wai’s first ever NFT creation – “In the Mood for Love – Day One” – edited from never-before-seen footage shot on the first production day of the international masterpiece, “In The Mood For Love” (2000).”

And they quote Wong Kar-Wai himself, saying:

“Today, we are able to eternalize this first day in a brand-new form. In the world of blockchain, this arrow can chart a new course. Here’s to more of us that will live and chase that first spark in every flash.”

This rhymes with the whole Wong Kar-Wai trilogy in more ways than one. “In the Mood for Love’s” main actors, but as completely different characters. What a concept.

“Unveiled for the very first time, the NFT short film contains rare footage starring Tony Leung and Maggie Cheung as characters utterly different from the iconic lovers in the original film. This unique artwork celebrates the critical and wondrous moment when a creative idea is first conceived, while marking the first Asian film NFT ever to be offered in international auction houses.”

Will this extremely rare NFT that has a concept behind it and it’s backed up by a legendary piece of cinema break some records? So far, the world’s most expensive NFT is Beeple’s “Everydays: The First 5000 Days.” Rival auctioneers Christie’s sold it for $69,3M. That doesn’t mean Sotheby’s hasn’t been part of the game. They sold CryptoPunk #7523, AKA Covid Alien, for $11.8M.

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Currently, Sotheby’s is auctioning a lot of 101 Bored Ape Yacht Club NFTs. The highest bid is $19M and the lot closes in approximately 9 hours. Participate while you can. Or save your money for the Wong Kar-Wai one.