Hi guys, this is Faiz, and welcome to my new blog. NFT is the thing that changed the whole point of view regarding art, collectibles, and tokenization. We can see that art can be transformed to NFT which is kind of token that is transferred and it has its own value but now this trend is entering in entertainment industry such as, films, music and in the pop culture so if you are thinking that NFT is just collectibles then it is not but it is becoming a tool to prove creativity, ownership and the building connecion between fan and actor or any famous personality. So the future NFT entertainment industry is looking bright, so let's talk more about this particular aspect.
You can see that a large part of earnings go to the middleman, so you can see that it is unfair for the artist, but with NFTs, I can mint their albums, songs, and passes to the backstage area. And you know all these things can be sold directly to the fan, so now you can see what the benefit artist is getting, he is directly connecting with the fan, and this particular thing is giving him more control over his earnings and the distribution.
NFT in music at not only about music, but it is like you are owning an experience, only if you can own this music NFT which can be a special version of the song.
Now let's discuss another way of using NFTs in the entertainment industry, such as NFTs that provide behind-the-scenes content, and can also provide early access. There is one more thing, and that is profit share. Yes, profit, you are listening to it right. Share in profit, and an independent filmmaker can provide this benefit to the NFT holders, and that filmmaker can do crowdfunding for the final team, so that NFT, and that will make it possible. New parade of
Filmmakers can also experiment with this technology, such as releasing a whole movie as an NFT This can be a great decentralisation in this entertainment industry, which is actually helpful for both friends and the film members. Here, the main aim is engagement, and this can be possible with the NFT. NFT can be a VIP pass for the fan. Show NFT has a great future in the entertainment Industry. A lot of things will change if the NFT concept is implemented in the industries; however there are some challenges that we also need to talk about
Challenges many people find anxious, confusing anonymity is confusing and technical it is not for the non technical person. Along with this there are market volatility and environmental impact copyright concerns and accessibility so these are the issues and these things can slow the mass adoption of an NFT n entertainment industry.
At the end I can say that NFT is here to stay, and even with the challenges, the industry will grow, and technology is evolving, and in the future, we can see solutions to the challenges So what is your opinion on this topic Let me know in the comments section.
