oh no, more hollywood gossip!! …
but not that Hollywood TMZ gossip…
… it’s a protocol called “gossip”.
“Gossip Dissemination protocol” is used in blockchains and allow participating components to communicate with each other.
Yep, them blockchains gossip like a bunch of retired movie stars hangin’ at Musso & Frank Grill.
The promise of blockchain technology in the Media & Entertainment and Music industry cannot be overstated. The number of stakeholders woven into film, television, new media, and musical works number in the hundreds and thousands with all of them taking a spot on a payments ledger and having some type of agreement binding them to the creator or production entity
You’re ready. We’re ready.
You’re ready. We’re ready.
Automate compensation, residuals, royalties. Micropayments allow tipping
Collection of agreements known as a chain of title are securely stored on an immutable ledger.
Tokenization and NFT’s. A tokenized production allows for a large pool of small investors. *
Zero Trust profiles allow rapid onboarding. Decentralized Identifiers (DID’s)
Circle of Trust
Onboarded participants can remain within a Production entity’s trusted environment.
A Blockchain-In-A-Box allows productions to replicate established business logic.
Chaincode / smart contracts accelerate business processes, improve efficiencies, transparency and tamper proofing.
Information/data is not controlled by a single entity. Ledger entries are pre-approved by all members and cannot be altered.
Plug & Play
Blockchain allows processes to be coded for high availabilty and recurring deployment.
Bypassing unnecessary and costly intermediaries will bring efficiencies and an equitable ecosystem.
IP assets are time stamped- WIPO is working on standards for use of Blockchain in the IP ecosystem.
Blockchain gives creators greater control over how & where content is distributed.
NFT’s – Ultimate Fan Engagement Tools
NFT’s have brought the fan club into the digital world. New swag bags will help propel branding and bring filmmakers, musician, and media creators new revenue opportunities. Creating unique and tamper-proof event tickets, backstage passes, merchandise redemption programs, and other event tools will minimize counterfeiting and also allow event organizers to regulate and control the secondary market. Blockchain will provide a transaparent and auditable record of ticket sales and smart contracts can automate ticket distribution and improve the ticket buying experience for event goers.
Opportunities are endless in the virtual world. The metaverse allows for social and commerce interactions the real world could never facilitate. Eventually the virtual communities will interface with an augmented-reality enhanced physical world. Leading edge orgaizations are replicating their real world assets in this new universe and that effort will result in new asset class monetization.
Blockchain first appeared as the technology underpinning that badboy of cryptocurrencies, bitcoin. The Bitcoin blockchain is a ‘public blockchain’, meaning that anyone can join it using freely available software.
“ “We think blockchain technology will help bring greater transparency for investors in the business and participants in a production. Right now there’s so much that’s murky when you invest in a movie,” said Christopher Woodrow, who The Hollywood Reporter claimed in an article in 2016 had been pushed out of a project in part because of excessive spending, told me in an interview.”
Jim Amos, Founder & CEO, Scout 53 Entertainment Consulting
"Blockchain in media and entertainment is giving companies the chance to reinvent their business models and reclaim the value they’ve lost from creation to consumption, whether through new entrants or digital intermediaries. They can re-set the digital playing field for the creators and curators using smart contracts, crypto tokens and smart content. Blockchain helps enable these players to connect directly with consumers."
Chris Lederer, Media & Entertainment Industry Leader, IBM
“While blockchain technology has the potential to fundamentally change the way our business is conducted in addition to helping us solve the piracy problem, understanding how the technology works and why it’s important is still very limited,”
Rouslan Ovtcharoff, Founder-Board Member, Blockchain Global Entertainment Alliance