The Web3 era will bring massive changes to scheduled TV programming


Image: Shutterstock

Almost every aspect of the physical world is affected by non-fungible tokens (NFTs), with musicians distributing outdated song rights, and major fashion brands like Gucci embracing technology to digitize artifacts.


Even television, or any other content planned for the age of streaming, is now using NFTs to fund shows. While giving viewers a voice in what’s on the menu, NFTV airs material with a crypto theme and uses NFTs as the basis for crowdfunding shows.

Each program has a collection of connected NFTs that give creators – rather than large media organizations – control of the business and enable holders to create content.
NFTV co-creator Greg Cipes spoke about the delicate balance between democratizing content and bringing an artist’s vision to life authentically.
Kim Kardashian, Snoop Dogg, Eminem, and Matt Damon are just a few of the famous people who have embraced the NFT craze. Many artists, especially seasoned professionals with a distinct brand or style, have a clear vision of their content when it comes to their creative output.
According to Cipes, there is a fine line to be crossed when NFTs come into the picture and offer a voice to the community as it could “absolutely” drive creators away.

He likened potential NFT-based streaming networks to a pirate ship, where decisions about featured characters are made democratically, with the captain having the final say.

“Everyone has a role, responsibility and accountability [and must] lead their respective team with creative freedom,” Cipes said.
Cipes highlighted the usefulness of non-fungible tokens (NFTs) in a television network environment, with non-fungible tokens serving as keys to additional network privileges similar to a subscription, but with concrete capabilities and ownership characteristics. He further stated, “Content is a great way to connect the concept of NFT to utility like entertainment.”
Among other things, NFTV will feature material on the Bored Ape Yacht Club and a cartoon from the NFT world, two popular topics in the crypto community.
Even among individuals in the crypto industry, a proper understanding of how NFT democratization works is a hurdle. According to Cipes, hands-on experience with projects like this helps people better understand the technology.
Because of their propensity to act as catalysts for adoption and education regarding real-world usefulness, the crypto community itself continues to support projects that are both entertaining and popular.
On October 18, blockchain technology provider Ripple unveiled the second $250 million fundraising round for its creators program, which aims to attract Web3 content with a focus on entertainment and media.
The writer is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash

Check out our festive offers of up to Rs.1000/- off website prices on subscriptions + Gift Card worth Rs 500/- from Eatbetterco.com. Click here to find out more.

Comments are closed.