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 2019
|Name||Date||How to access||Official URL||Additional Info|
|Greencoin Airdrop||Until 15 May 2019||Greencoin Team has decided to give away 500 000 GNC worth 150k USD in total. Simple social media tasks - twitter follow, medium follow etc - each pays 200 GNC each.||join||web|
|Bethereum Prize Pool||Until 1 June 2019||Bethereum, the betting platform on ETH, is giving away free bets with the chance to win prizes from a pool worth 12M Bether. Upon signup you get enough points to make your bets, and you can wager on sports and esports.||join||web|
|FanEspo Big Competition (ERC20)||Limited||The eSports platform FanEspo is giving away the total of $1.6 million of tokens in contests. Top winner's prize is over $100K worth. You need to have a FanEspo account, the tokens you get are beta but they will be transferred into real tokens upon launch. Estimated value is 1 USD per token.||details||make acct|
|BlockWage Airdrops + Bounties||Recurring||Platform for freelancers marketplace. Airdrops randomly announced via Discord, there's also the possibility of Masternodes.||join||web|
|DSTRA / $DST Discord Airdrop||Biweekly||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|
|HubrisOne Airdrop Round + Bounties||Weekly (16 weeks of airdrops, each weekly round starts on Tue)||HubrisOne is a UK financial service that offers personal and business crypto-friendly bank accounts and crypto-fiat cards. The easiest way to get the token is to download their banking app, which gives you 1000 tokens (10 USD) but 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, but on other days they publish random airdrops on their Twitter.||airdrop, bounty||twitter (more drops)|
|BitcoinLux Bounty||From 28 March 2019||A project that requires you to install their wallet, be vigilant here. Drops coins for blog or social media shilling.||details||web|
|SiQs Bounty||As available||New smart-contract based marketplace for freelancers. Pre-alpha minimum product available, just as litepaper and wallets for Linux and Windows (sadly not paper, so be vigilant). Runs on PoS / MN. Join discord for airdrops.||discord||wallets|
|Synchrotron / $STC Airdrop #15||30 weeks of airdrops (Airdrop #15 starts 25 March 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|
|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|