NFTs are changing the TV and film industry!

It began the symbols of non-replaceable (NFTs) already in capturing the music industry, which is heading to the cinema industry and television.

The animated series "Stoner Cats" raised $ 8.4 million at the end of July in the sale of NFTs  (which give owners the exclusive right to watch episodes), and they sold out in just 35 minutes.

And that's only the beginning, as industry players speaking to Cryptonews.com say an increasing number of film and television studios have begun looking for NFTs .

Global production company also entered Enderby Antrtemnt FAQ in partnership with Korensa and Rex CurrencyWorks in June to form a foil VUELE , the first viewing platform and the distribution of NFT long films.

For many in the coding and TV movie industries, NFTs provide a new and lucrative source of merchandise, and may also help shape the industry in new ways.

This will include enabling smaller independent production companies to secure funding, as well as the possibility to use NFTs to allow viewers to vote on plot developments , among others.

Strong value proposition

He said Alex Salnikov's , co - founder and head of products at the site Rarible.com :

“ NFTs bring a strong value proposition to the table, as an alternative source of revenue and native digital audience engagement, as with any creative sector, be it film, photography or music.”

While acknowledging that the NFT space is still in its early days, Salnikov stresses that we are starting to see more adopters from traditional industries, including film and television, experimenting with NFTs in the process of validating them as a commercial component.

It is reported that just this year, the first Academy Award-nominated film was released as NFT , while media giants the size of Fox , began exploring investment and building opportunities within the space.

Said Salnikov site Cryptonews.com :

“All of these actions have a domino effect: they influence other key players in the industry to give NFTs the opportunity, while emerging artists and creators are further inspired, to explore this exciting new medium.”

It refers Salnikov also noted that Riribl itself hosted the show NFT director Michael Bates award - winning, which was held to raise funds for the first documentary film in the world are filmed by refugees around the world.

These may be modest first steps, but according to some figures within the NFT space , they indicate an imminent large-scale transformation within the world of television and film.

Where the head of strategy said in theta Labs the Theta Labs , , Louis Levitt Levitt Wes , the company that stands behind the network theta Network the Network the Theta (THETA) , a broadcast network supported video Blukchen Blockchain :

 “Every major production company is looking at using NFTs to increase fan engagement and find new revenue lines, and movie licensing arrangements are complex,

So it has taken some time to work through the proper ways of implementation, but we anticipate that the NFTs, once resolved, will become a huge part of the movie fan experience.”

Mintable CEO and founder Zach Burks also endorses this picture of the growing interest in NFTs , in the film and television industry, suggesting that most of them will be involved in one way or another.

He told Cryptonews.com :

“I think we've already seen TV studios and production companies dive into NFTs . From CNN to Fox , to independent studios, there is already a lot of activity in this area.”

It takes Burks , Stoner Cats as an example of how the evolution - based presentations NFT or associated, since it has such a successful release.

Indeed, the offer , which includes Kutcher in Ashton , and Chris Rock, and Jane Fonda 's The Jane , had already released the first episode, with more in the future.

More control and close connection

As mentioned above, potential viewers need to purchase Stoner Cat NFTs , in order to access the rings, as each costs  0.35NFT ETH (over a thousand USD at the time of writing).

As this high price indicates, NFTs can become very profitable for television and film companies.

Wes Levitt added :

“The first, and simplest, use case is what most people see: digital collectibles such as famous movie scenes, NFTs representing famous characters or items from films, and other negative examples.”

However, other than this obvious use case, most numbers within the cryptography and NFT subsector would expect more interesting purposes to emerge over time.

For CurrencyWorks CEO and co-chair of VUELE, Cameron Chell, NFTs will give production companies more control over their business financing, while also putting them in closer contact with their audience.

He told Cryptonews . com :

“Our platform allows the production company to promote itself. She can decide how many NFTs of her movie she wants to distribute, and whether she wants to package it with exclusive content, like artwork or behind-the-scenes footage.”

Chell also reveals , that with VUELE FOIL , filmmakers can also have complete control over the rate and timing of NFT drop . Moreover, it has the potential to become a useful marketing tool, allowing production companies to "stay informed about the desires of their target audience" .

Some observers believe that NFTs will lead to new and emerging formats and experiences within the television and film industry, as well as providing new revenue and funding streams.

As Wes Levitt said :

“Exciting use cases are still in their infancy, and I believe that NFTs may grant the right to vote on how the next season of a TV show will be shown, or access to special content that can only be seen by NFT holders .

This advanced level of fan engagement will come about when you see the high demand for NFTs , as well as changing how fans interact with their preferred IP address .”

Similarly, Alex Salnikov also predicts that the uses of NFT within Hollywood will evolve over time, stating:

“I expect that in the near term, more TV shows and movies, will start taking advantage of NFTs to distribute unique digital content related to each movie and show, and to experience add-ons such as experiences, physical goods and exclusive content.

Furthermore, we may see things like TV shows in metaverses , where NFTs change as the series develops, as well as on-chain voting  for future characters.”

And for Zack Burks , NFTs will become more than just an add-on to TV and film, eventually rising to the status of something that advances production, in the production studios.

where he said:

“ NFTs make a lot of sense when it comes to TV and movies. One of the interesting moments that I'm looking for is when the studio is using NFT in a way that relates to the intellectual property of the production, that's going to be exciting."

For his part , says Cameron Chil of woe VUELE , that NFTs will become a new evolutionary way to distribute movies and enjoy it, as it stimulates the possession of digital media, after years of broadcasting, which may have reduced the value of the media.

For example, rather than just going to a traditional distributor or streaming service, VUELE allows studios or distributors to go directly to fans of digital collectibles developed by Currency Works .

He concluded Chil Chell said:

“ NFT provides new ways for content creators to establish deeper and more meaningful relationships with their supporters.”