Web3 technologies are already being used in the film industry to build communities and tokenize niche content. NFT will be the next rising star in Hollywood.
[Niche refers to a market segmented according to the advantages of an enterprise. This market is not large and has not received satisfactory services. There is a profit base for products to advance this market. Here we specifically refer to products that are highly targeted and professional. 】
British short "An Irish Goodbye" won Best Live Action Short at the 95th Academy Awards, produced by First Flights, the "Film3" company that made the film through crowdfunding . Before the release of "Irish Farewell", First Flights issued NFT and devoted itself to Web3.
"Irish Farewell"
It is undeniable that NFT has broken through the barriers of many traditional industries and came to the public, but the Web3 of the film industry is still uninhabited, and there are many roads to be discovered. More recently, Hollywood has started exploring the potential of blockchain technology and Web3.
NFT establishes a peer-to-peer relationship between buyers and issuers, helping to build a community that does not depend on multiple suppliers. Over the past few years, businesses have been exploring the power of community, but it has been difficult to quantify its return on investment.
The Importance of a Niche
Many people's understanding of data is superficial, and few people can understand what data represents and what we can get from data.
Our research found that mass (broad audience) entertainment channels have high subscriber churn rates, with an average churn rate of 28%.
Conversely, streaming channels that focus on a specific niche and serve a specific community have a much lower churn rate of 12.7%. Engagement rates are also higher for niche channels, with viewers spending an average of 506 minutes watching, compared to just 73 minutes per user for popular entertainment channels.
What's more, subscription price hikes had no effect on churn for niche channels, while churn surged for mass entertainment channels.
These findings confirm the importance of community building for creators, especially those creating niche content. Niche Content Build a community tailored to your users' interests and needs. Likewise, independent filmmakers of niche content can build their communities around their work and connect with audiences.
NFT + movie industry
The film industry is leveraging Web3 technologies to create communities and monetize niche content offerings, giving creators leverage over distributors and streamers. Web3 technologies help filmmakers overcome major challenges of funding, intellectual property protection, and audience engagement. Armed with tools like this, even in the current streaming wars, creators can build an unprecedented reach.
Cinematographer and filmmaker Julie Pacino encountered a lot of unconventional resistance with her film "I Live Here Now." When she was about to give up for a while, she suddenly had an inspiration and decided to fund the film through NFT and achieved great success. Jolie becomes the first filmmaker to fully fund a film with an NFT.
The Web3-funded film Calladita is the first recipient of the Andrews/Bernard Award at the 2023 Sundance Film Festival. "Calladita" uses NFT as its financing strategy, the first ever European film fully funded by Web3/NFT.
《Quiet》
Calladita's NFT is divided into four levels, from 0.16 ETH all the way to 6 ETH, and each NFT level has privileges. In addition to this, users can also support the film by donating to their main wallet calladita.eth. All tier holders are eligible for additional airdrops and sweepstakes.
"This movie started as a crazy idea in my head, maybe I could finance my first feature film with an NFT collection, a few months later, thanks to the 500 people on the internet who believed in us and minted our NFT , we had to make a movie."
"Calladita" producer Miguel Faus said.
Calladita's official website also displays a ranking of collectors and contributors to the film. Additionally, the NFT will form the Calladita DAO. The project transfers 50% of the profits from the film to the DAO. Although legal resolutions are not yet in place, Calladita DAO will utilize existing NFTs as governance tokens that will give holders decision-making power over the project.
The Squad 是一项由 NFT 驱动的倡议，它的发起者乔丹·贝恩 （Jordan Bayne）是 Film3 运动背后的推动力，该倡议旨在通过为电影内容生产者提供更公平的平台来改变电影业。
赋予创作者权力
NFT 有可能通过赋予创造者权力，促进协作、创新以及建立更公平的经济来改变社区互动和参与经济的方式。虽然 NFT 仍然是一个相对较新的概念，但随着创作者直接将其作品货币化并减少创意产业中传统上存在的权力不均，它们对社区和经济的影响已经开始显现。
电影业中的内容创作者罢工问题迫在眉睫，越来越多的创作者另寻他路。Web3 技术和 NFT 的兴起为传统的内容创作和分发模式提供了完美的替代方案，使独立电影制作人能够更直接地接触到观众，对他们的作品保持更多的控制权。
电影业正处于十字路口，我们需要顺应并拥抱技术的发展，在行业和技术之间寻找一个最佳交叉点，使得行业与用户建立更有意义和可持续的关系。
来源丨CoinDesk
作者丨Andrea Berry
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