Decentralized Entertainment Economy

The film industry is in a state of flux. The traditional model of distributing and financing movies and content is under threat from new web3-based technologies and changing consumer habits. At the same time, there is an increasing demand for new and innovative content.

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What if there was a way for screenwriters, content creators and filmmakers to get paid every time their movie was watched? And what if viewers could watch their favorite movies, shows, and content for free, while still supporting the creators?

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This is the vision of the decentralized entertainment economy, where movies and content are distributed using blockchain technology and viewers can choose to support the creators with micro-payments and digital currency. This would create a more sustainable model for the film industry, where creators are directly rewarded for their work, and viewers can choose to support the movies and content they love.

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In this blog, we will explore the potential of the decentralized entertainment economy, and how it could benefit creators, consumers, and investors. We will also identify some of the challenges that need to be addressed to make this vision a reality.

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Throughout recent history, we have seen two major eras of film.

1. Old Hollywood, consisting of the traditional “blockbuster” system that we have been used to - one of the big media conglomerates funds a project from a well-known writer/director, it hits the box office, then lives on your local Wal-Mart shelf until it makes its way into the “$3-dollar-movie” bin (which I still tend to visit often).
2. New Hollywood, where streaming comes into play. Netflix, Hulu, Prime, and more have plugged in a subscription model that we are all subject to - I think I have every subscription, yet still struggle to find something new to watch.

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I believe Hollywood is entering into a new era some are calling “Decentralized Hollywood.”

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With old and new Hollywood eras, there have been a plethora of gatekeepers: networks, big studios, etc. that are hindering projects from seeing the light of day.

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With a decentralized Hollywood, producers, writers, and creators can crowdfund, create, and launch a film all on a blockchain-based platform AND eliminate the big studios that would have probably changed the narrative of their script anyway.

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Financially, decentralized Hollywood puts much more money in the pockets of those who are creating the content we love, and less in the pockets of the industry giants with gatekeepers. This opens the doors for more smart contracts, micropayments, crypto exchanges, royalty optimization, and greater opportunities for filmmakers to navigate industry funding by tapping into a vast pool of resources like major investors and crowdfunding platforms powered by blockchain technology. The sweeping nature of this blockchain technology, unhindered by geographical boundaries, means creators and consumers alike, will be able to interact with the industry in full.

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