This is a brief report on the state of blockchain implementations in the entertainment industry. What has been done, what are the most promising concepts and where are any potential bottlenecks aside from the ingrained conservative nature of the entertainment business.
Entertainment business has long struggled with the gatekeeper problem.
So many barriers to overcome before you just barely crack the surface: Record deals, distribution rights, funding, you name it.
But even the entertainment industry is being flipped on its head with the arrival of the internet age and the democratization of content.
Through platforms like YouTube, Spotify, and Netflix, content is already being made more accessible and the road does not stop there. As the frustration over red tape continues to grow, people are looking for more ways to disrupt the industry and drive power back to where it deserves to be.
One way to do so is through blockchain technology. According to an article on CryptoDigest, the technology is already in the full swing of disrupting industries like healthcare, banking or agriculture.
It’s only a matter of time before crypto works its magic on entertainment, too. This is a brief report on the state of blockchain implementations in the entertainment industry, what has been done, what are the most promising concepts and where are any potential bottlenecks aside from the ingrained conservative nature of the entertainment business.
Blockchain to re-empower the artist
In entertainment, middlemen aren’t always a good thing. Too many parties involved will lead to hijacking of content, unbalanced income streams and loss of distribution control.
Blockchain-powered systems forge a more direct relationship between the artist and their audience. This is able to shave off critical costs and generate better returns for the artist.
One of the early innovators who tapped into blockchain for the music industry is Imogen Heap. In 2015, the Grammy-winning artist made use of the Ethereum Blockchain-based Ujo platform to distribute her song Tiny Human. This solution allowed her to price her song at just $0.60 per download — a substantial markdown from the usual pricing of $1 and up.
Blockchain for crowdfunding and fair trade relationships
The entertainment business belongs to the industries that forgot to innovate for the past few decades and its bureaucratic model is ripe for disruption.
Blockchain technology is creating more funding options, consequently more people get to earn their slice of the media pie.
SingularDTV, for example, invites fans to become investors themselves. This platform for funding of movie creation collates all forms of crypto and fiat currencies. This way it creates new liquidity in line with cryptocurrency exchanges and the 21M trading wallet.
The SingularDTV system targets everyone with a story to tell but without the means to deliver it to an audience. The innovative bit though is that it also provides an opportunity for fans to support and earn from films they actually like. This form of rewarding the fans is completely new and unprecedented.
Decentralized talent management
Because there are limited resources to scout every potential superstar out there, it is inevitable that some well-deserved talents end up fading in the background. Even for talents that are found, the struggle with funding is still real.
In sports, especially, young athletes have a difficult time covering their expenses when starting out.
TokenStars is the first to recognize this gap and to employ blockchain technology to facilitate deal-breaking support for upcoming sportsmen.
Funding for athletes opens up a wealth of possibilities and resources that can propel them to success — from better coaches and health support, to quality equipment and training.
Conducive collaboration between developers and publishers
Collaboration is the pulse of the entertainment industry, but it’s not always easy to do.
Smart Contracts can create a more streamlined approach to managing multiple teams and ensuring each member sticks to a pre-determined agreement.
In gaming, companies like Bounties Network and Qravity are connecting video game publishers to developers, tracking their contributions to new titles, and settling their wages via smart contracts.
Limitations ob blockchain tech: The price of transparency
Despite these exciting possibilities, however, blockchain technology still has its limitations.
An article focused on blockchain’s limitations by FXCM notes that while it has undoubtedly contributed to greater transparency and protection of intellectual property, it comes with the caveat of having to address the need for confidentiality.
Companies have to remember that preserving data privacy and commercial transparency doesn’t equate to integrity. At the end of the day, confidentiality terms must be agreed upon.
All in all, blockchain technology has yet to mature fully. It may take a while before it can be adopted into the vast Hollywood mainstream — a territory that is known to play it safe and stick to tradition.
But as history has proven, at the end of the day innovation is inevitable in business if one wants to stay afloat.
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Upcoming and current airdrops February 2019
|Name||Date||How to access||Official URL||Additional Info|
|Cryptomillions $CPMS Airdrop||Capped||New crypto airdrop, simple social tasks will get you $8 worth of tokens that will be directly tradable.||join||web|
|COSS Exchange Valentine's Day Airdrop||14 Feb 2019 00:00 GMT+8 - 23:59 GMT+8||This is a special event from the crypto exchange COSS: On Feb 14 only you receive an airdrop of 25 CFT if you make one deposit and trade any cryptocurrency to qualify.||join||more|
|Valentine's Day at CryptoFlower game||14 Feb 2019||This is a special event from the dApp game CryptoFlowers: On Feb 14 only you can grow flowers with special pot and AR flying hearts. These flowers will be rare and can be sold later.||sign up||web|
|Genes Token Airdrop (ERC20)||As available||A tokenized project for genome storage service on the blockchain. You get 5 GENES for commenting on Bitcointalk.||join||web|
|Synchrotron / $STC Airdrop #9||30 weeks of airdrops (Airdrop #9 starts 11 February 2019)||Hybrid PoW/PoS payment cryptocurrency. The team drops 72% of supply (18 MM coins) during 30 weeks of airdrop campaign; there is additional budget for bounties. The bounties are announced on discord server. Each airdrop round runs from Monday 10AM UTC to Friday 10PM UTC. Validation runs weekends and distribution Mondays. You need to download a $STC wallet.||drop rules in this thread||info|
|DSTRA / $DST Airdrop #21||Biweekly, drop #21 runs from 11 Feb 2019||DSTRA is PoS Scrypt Masternode coin with limited supply that will be used in DEX environment and marketplaces. There are airdrops every two weeks, users need to register via discord. Regular payouts verified.||discord||rules|
|Agri Novus Bounty||As available||New blockchain-based project for organic supplies providers and customers. The team will pay out bounties for social media work.||more|
|Tratok Airdrop||February - March 2019||Tratok stands for Travel Token, it is a token of an application to make bookings for travel and hospitality. Follow the Tratok Project on their social media platforms and get 1000 TRAT for each approved action. Tokens distribute 20th March 2019.||join|
|LATOKEN Invite-Only $LA Airdrop||Capped||LATOKEN drops their exchange LA tokens to invited users who verify their e-mail address. LA is a token of a fintech project aiming to setup a distributed trading ecosystem. If you contribute with bounty work you can earn up to 3,140 LA. The token trades actively on the exchange against several cryptocurrencies.||join||web|
|HubrisOne Airdrop Round #5||Weekly (16 weeks of airdrops, each weekly round starts on Tue)||HubrisOne is a financial service that offers personal and business crypto-friendly bank accounts. There is a massive bounty campaign with weekly payouts. The work ranges from social media engagement or Bitcointalk signature to content creation, all must be properly reported. New round starts every Tuesday.||join||web|
|IoT Classic Airdrop (ERC20)||As available||IoT Classic is a decentralized supply chain tracking platform for the internet of things. The developers have background in the supply chain industry and are working on a cloud-based software solution that will make IoT supply chain tracking easy and scalable. The team drops 1,800,000 IOTCL tokens in total for social media follows.||join||web|
|Endpass Testers' Bounty Campaign||As available||Endpass is a new ERC20 wallet that is looking for testers. Everyone who downloads the app and signs up via Bitcointalk and Google form receives 0.1 ETH if they provide constructive feedback, the reward for every reported bug is 0.1 ETH as well. Additionally, there is a Bitcointalk signature campaign.||join||bitcointalk|
|Isibeli / $BEL Airdrop||Capped||New crypto for fast payments. Drops 200 BEL to the first 5000 members who complete simple social media tasks. There is a dubiously big giveaway on the homepage too, be vigilant with this one, don't use your main e-mail to sign up.||join||web|
|PMTC Airdrop||Ends 1 March 2019||A new cryptocurrency written from scratch using PHP, Python and MySQL. Its purpose is a betting system built into blockchain, it currently lives on testnet that needs to be tested. Therefore after signup you'll receive some testnet tokens. You will need to use them on the platform in order to climb in the airdrop ranking to later receive the real tokens.||join||info|
|CoinIMP Airdrop||Capped||CoinIMP is a Monero and Webchain CryptoNight JS web miner that claims to be getting around anti-viruses and adblockers. They are currently in a token sale for a utility token IMP that should be used for payments via the CPM advertising model. A total of 25 million IMP tokens will be distributed among users in an airdrop. You get 500 IMP for a set of social actions: You'll need to sign up, head to the "Buy" section and scroll all the way down.||join||web|
|Cargo Coin Bounty||Weekly||Cargo Coin, a token for transport & logistics with an ICO past the soft cap by now, is having a weekly extensive bounty. It spans from simple retweets to YouTube reviews - make your bounty hunter account and pick your poison.||join||info|
|AllForCrypto (WAVES)||Ends March 2019||A WAVES project for eBay-style marketplace on the blockchain. Drops $20 worth of AFCT, plus they have updated their bounty campaign.||join drop||bounty|