YouTube collective Yes Theory has just announced a new NFT project that will help fund the release of its feature film documentary “Iceman.” Despite the backlash from its community, Yes Theory addressed NFT concerns and explained why this route was the best choice for the collective’s vision.
Photo credit: The Hustle
Who is Yes Theory?
Yes Theory is a digital brand built around a YouTube channel founded by Thomas Brag, Ammar Kandil, Matt Dajer and Derin Emre. At its core, Yes Theory is about saying “yes” to things that take you out of your comfort zone in order to live a more fulfilling life. What began as a YouTube channel expanded into a brand with a global audience of more than 10 million people.
About Project Iceman
Yes Theory set out to create the most impactful documentary ever made on YouTube. After recognizing the power of their community, the Yes Theory team members decided to create their first feature-length film. Their subject? Anders Hofman – an athlete who wanted to do an Ironman distance triathlon in Antarctica.
After successfully completing their mission in Antarctica, the crew returned home on March 14, 2020 – the day of global lockdown. The team spent one year pitching to global streamers. After navigating the bureaucracy associated with pitching, the team secured a $1.25 million deal with (arguably) the world’s largest streamer.
However, the team decided to reject the money after recognizing that accepting it would mean losing control over the project. Therefore, they decided to evolve the crowdfunding concept into one that would give their backers a deeper sense of ownership. This is where NFTs come in.
Yes Theory NFTs
On April 17th, the YouTubers announced they will be dropping 10,000 Limited Premiere Tickets and 226 NFTs corresponding to every kilometre of the Iceman. This will enable them to have full creative control over the project, and release the film on their own terms. In addition, the NFTs are designed in such a way that even those without a wallet can participate.
There are 4 tiers, which are: The World’s Coldest Movie Ticket (priced at $50), the Ice Squad (priced at $1,500), The Owner’s Table (priced at $15,000), and a one-of-one titled The Executive Producer, which will be auctioned.
The backlash against Yes Theory NFTs
Ammar Kandil from Yes Theory and Anders Hofman responded to the NFT backlash by releasing a video on Yes Theory’s sister channel “Seek Discomfort”. First, they spoke about the environmental impact of their NFTs. They stated that by working with Polygon, each NFT has the environmental impact of sending three emails. Additionally, they will also be offsetting the environmental impact of their NFTs.
They clarified that their fans do not need a crypto wallet to buy their NFT. Their aim is to make these NFTs as accessible as possible. Furthermore, they want their community to support them without having to learn a brand new technology. In fact, they stated that purchasing these NFTs is as seamless as a normal online checkout.
Both Kandil and Hofman asserted that this is not a profit-making project. On the contrary, the money raised will all be spent on post-production and ensuring that the film is released at the highest level possible.
By opting for NFTs, the Youtuber collective is joining a list of acclaimed creators who are bypassing the middlemen to release their creations. In fact, more and more filmmakers are viewing NFTs as the antithesis of film industry gatekeeping.
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