Oracle Movies, India’s first NFT Movie MarketPlace, is steadily making progress by creating the right waves in the industry and beyond.
Founded by Technology Entrepreneur Senthil Nayagam and Film Producer G K Tirunavukarasu, Oracle Movies is expected to bring a tectonic shift in the way film business is being done in India.
Already, around 1000 movies in multiple Indian languages have onboarded with Oracle Movies, and the library is set to expand in the near future. With the help of technology, Oracle Movies is projected to take the business of Indian movies to the global market and to new unheralded and unexplored areas. Besides, it would also bring the international films for release, dubbing and remakes to the Indian market.
In a testimony to the enormous promise being shown by Oracle Movies, it has been selected for Rs 25 lakh seed fund under the Union government’s Startup India Seed Fund Scheme (SISFS).
Oracle Movies has been selected after a rigorous process by VelTech TBI (Technology Business Incubator) – Avadi, a part of Vel Tech group of educational institutions, which has been identified as Centre of Excellence by the Central government.
Dr. S. Salivahanan, Vice Chancellor, Vel Tech; Prof. Dr. E. Kannan – Registrar; Dr. Rajaram Venkataraman – CoE : Chief Executive Officer, Vel Tech; Dr. P. ChandraKumar – Dean- Industry Relations and Vel Tech TBI; Mrs. Sheeba Rani G.W – SISFS Manager/ Vel Tech TBI among others congratulated Oracle Movies for the seed fund and wished the startup success in its endeavours.
Oracle Movies has also received mentoring and support from SASTRA TBI of the renowned SASTRA University in Thanjavur.
The Department for Promotion of Industry and Internal Trade (DPIIT) created Startup India Seed Fund Scheme with an outlay of Rs 945 crore to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. It enables technology embedded and innovation powered start-ups to survive and scale across a wide-spectrum of thrust areas with funding, infrastructure, mentorship, industry networking, resources, and training.
The scheme is aimed at enabling startups to graduate to a level where they will be able to raise investments from angel investors or venture capitalists, or seek loans from commercial banks or financial institutions. With technologies like Web3, NFT, Blockchain Technology, Metaverse, and AI gaining momentum, it is essential to support startups to make India the global leader in these fields. Interestingly, Oracle Movies is venturing into the Metaverse too soon.
Oracle Movies expands its wings in Kerala by signing a pact with over 40 Malayalam producers.
With this, Oracle Movies will take their films and other film content worldwide in a secure digital way and help them earn more revenue from traditional and emerging revenue sources.
With the appreciation and support of G Suresh Kumar, President, Kerala Film Chamber of Commerce, Oracle Movies recently conducted sessions on ‘Emerging Business Opportunities in Film Industry’ in Thiruvananthapuram and Cochin.