Just over two years after the Terra blockchain crash, a documentary on NFTs has come to the web, showcasing the aftermath of this catastrophic event on NFT collectors. After its release on X, "Deep Down The Rabbit Hole" becomes a nostalgic artwork NFT, mintable on Base Network.
It was May 7, 2022, when the most established blockchain of the moment, Terra, began to falter, before collapsing irreparably a few days later. Behind this network and its governance token, LUNA, was one of the most cohesive and vibrant communities in the crypto landscape, the LUNAtics. "Deep Down The Rabbit Hole" tells the world of NFTs through the direct experience of some members of that community, particularly the film's director, Nick.
Born in Rome and residing in London, Nick Rizzini aka MabCollector founded his film production company, The Queen Mab Company, in 2017. He has written and directed several short films including “Shhh,” “Brexit,” and “FOMO.” In 2021, he directed the feature film “Framed”, a romantic thriller starring Thomas Law and Edmund Kingsley, currently available for viewing on Prime Video.
In the film “Deep Down The Rabbit Hole,” MabCollector tells the story of his fall down the rabbit hole: the mint of his first NFT, his desire to launch an NFT project tied to film production, his relationship with the Terra community, and the repercussions of the LUNA and UST crash. You’ll find interviews with founders, artists, and members of the most important NFT communities of those years. Noteworthy is the contribution of several Rekt Gang members, particularly Bren (Brendarious), who animated the PFPs of the people who preferred not to show their faces.
Besides its significant testimony to NFT culture, “Deep Down The Rabbit Hole” deserves to be seen for the honest portrayal of the digital art world it shows the viewer. The constant danger of falling into a scam, the legal complications of launching a collection, the euphoria of the minting process, and the enthusiasm from belonging to a virtual community. By diving into the rabbit hole, even spectators unfamiliar with the crypto world will experience the emotions triggered by FOMO (fear of missing out) and FUD (fear, uncertainty, and doubt), feelings that continuously alternate in the NFT space.
“Deep Down The Rabbit Hole” is available for viewing on X in English, but I’m working on the Italian subtitle version to facilitate its distribution among our compatriots. Once released, Nick and I will try to organize screenings in some Italian cinemas. Besides the opportunity to introduce the NFT world to the general public, this could become an occasion for collectors and crypto enthusiasts in the Belpaese to meet in the real world.
A documentary about NFTs, community, hope and despair.
Watch now exclusively on X
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The film has also just been launched as an NFT on Base Network. It will be possible to be minted on Zora for a month and then purchased on secondary markets like OpenSea. In my opinion, this is one of the most significant mintings of Onchain Summer. The artwork of the first NFT documentary aims to represent a lifeline thrown by web3 to the film industry and the DVD market, constantly threatened by streaming platforms. For this reason, MabCollector decided to mint the film on-chain on Base during Onchain Summer, giving it the guise of a nostalgic VHS.
Minting this NFT will allow users to actively support the film, as well as collect a unique piece of art that represents the infinite possibilities arising from the intersection of digital art and the real world.
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