It won Best Visual Effects at the Oscars for the work done by Rhythm & Hues Studios - but by the time the awards arrived R&H had filed for bankruptcy due to being constantly undercut by offshore startups, when Bill Westenhoffer from R&H went up to collect the award for Best VFX and started to mention R&H they cut his mic off.
Then to top it off, when Ang Lee went up to collect the Best Director award he spent ages thanking everyone from the cast, his agent, his lawyers, the people of Taiwan, down to the people who built the wave pool in the blue-screen sound stage where they shot most of the film.... BUT didn't mention or thank any of the 100's of animators from Rhythm & Hues who created the Tiger from scratch, removed the blue sound-stage boat and created the scenery and landscapes (most of who had just been made un-employed).
The film also won the Oscar for Best Cinematography - when the majority of the film was shot in blue-screen and generated in VFX post - not a popular win in the film industry when the Cinematographer couldn't really see what the shots would look like for 80% of the film.


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