Source: news.google.com
The entertainment media landscape has changed immensely in the last decade. And for the new generations (Gen Z and later), it keeps changing. There was a time when kids woke up to cartoons and spent afternoons watching regularly scheduled family programming, but the youth of the 2020s now eat their breakfasts with a side of YouTube and their late-night snacks while watching shows on Netflix.
That’s not a bad thing, unless of course you’re in the TV industry. Because in the last 10 years or so, subscriptions to streaming video services have skyrocketed, while subscriptions to pay (cable) television have dropped by 10.2 million (about 12 percent since the end of 2016). It is becoming increasingly clear that traditional television programming is about to disappear. But what could become of the industry that defined home entertainment?
Well, in Web3, TV might have a chance to return, but it won’t look or feel like its original form. Instead, television could be reinvented on the blockchain through streaming technology and NFTs. Instead of ratings deciding a show’s viability, shared ownership will allow consumers to dictate what type of content a network publishes. Sounds dystopian? Good.
TV, but make it Web3
With NFT, any type of IP can be monetized. This might be common knowledge to those in Web3, but because of its implications, it’s a fact worth repeating. Essentially, the blockchain has become a place where content creators of any kind can make a living. And as you may have already guessed, this also includes those on television.
But it’s not the major networks or brands that are leading the charge in this still-niche market sector, but creators who have established themselves in the industry (or in the media), perhaps even gained a bit of influence, and now they’re trying their hands at bringing television into the metaverse. This is best exemplified by featured voice actor Greg Cipes.
Best known as the voice of Beast Boy on the popular animated show. teen titans, Cipes has amassed an almost cult following for his involvement in the beloved DC Comics franchise. With his vast knowledge of the cartoon industry, he created a Web3 project called NFTV Network, a 24/7 live streaming platform hosting original cartoons and other NFT content, fashion, entertainment and news generated by the community.
With NFTV, Cipes hopes to promote a new mode of media production through the use of NFTs, which essentially power the platform. Creators wishing to stream their content on the network can simply purchase an NFTV Airtime Token to gain access to exclusive member benefits, including the ability to submit content for streaming on the network. And while creators can have their content streamed on the platform 24/7, they still retain all rights to their content in a non-exclusive deal, which means NFTV is simply promoting the content alongside their own, leaving creators the chance to take a deal if, say, Netflix came knocking on the door.
With an upcoming slate of programming for the network featuring roles and cameos from big names like Jamie Foxx, Pete Wentz, Danny Trejo and more, NFTV looks poised to break new ground for Web3 entertainment companies. But it’s not just NFTV exploring this intersection, as several other digital native projects have also announced plans to create and launch blockchain-based shows and movies.
The expanding Web3 entertainment landscape
In a similar vein to NFTV, Shibuya, a decentralized narrative project created by leading Web3 artists Emily Yang and maciej kuciara, also intends to use shared ownership as a means for content creation. With the studio’s first production, White Rabbit, community members who purchase a Producer Pass NFT become the center of the Shibuya ecosystem, being able to watch every episode of the project and, at the end, vote on the direction of the next installment. : Similar to the “choose your own adventure” form of interactive entertainment that has become very popular in recent years.
While digital native creators remain at the forefront of photography, music, film, poetry, comedy, and other new forms of art and entertainment that are available on Web3, others from the legacy media industry have also joined. interested in blockchain-based content. One of those creators is rick and morty Co-creator Dan Harmon. In a recent partnership with Blockchain Creative Labs (BCL, Fox Entertainment’s Web3 studio), Harmon also aims to use shared ownership as a means to create content.
With the launch of an NFT series centered around a new animated series called Krapopolis, Harmon, and BCL will grant NFT owners access to token-controlled content, private screening rooms, access to Discord channels, and more, including voting rights for the series (i.e., influence over the direction of the show). . Given the high-profile nature of this joint venture, the plan being put forward by NFTV, Shibuya and now Krapopolis, where fans use their ownership of NFTs to influence a network’s output, could be a blueprint for the future of the Web3 entertainment industry.
Shared ownership: TV’s saving grace?
While it’s easy to see NFT media projects run by TV veterans as a new use case for blockchain-based TV, in reality, Web3 TV doesn’t feel like “TV” at all. Although the term makes perfect sense in the accompaniment of shows like the one endorsed by Mila Kunis stoner cats Y the tricksWeb3 TV has almost nothing to do with television or broadcast media.
While various efforts have taken up the cause of bringing TV to NFTs. Web2 producers like Cipes and Kunis are on the cusp of a new form of blockchain entertainment, and one that is still largely dominated by native Web3 projects like interspersed Y dead heads. So while it’s easy to look at NFTV and assume that it’s simply setting the standard for a new form of television, perhaps it’s better to take a different stance and view all Web3 media as not just another iteration of entertainment, but a gateway gateway to a new paradigm of decentralized content creation, artistic empowerment and fandom.
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