{"id":126553,"date":"2022-08-15T18:12:45","date_gmt":"2022-08-15T12:42:45","guid":{"rendered":"https:\/\/centralrecorder.com\/full-mint-films-hopes-to-be-at-the-center-of-hollywoods-convergence-with-web3\/"},"modified":"2022-08-15T18:13:31","modified_gmt":"2022-08-15T12:43:31","slug":"full-mint-films-wants-to-be-the-center-of-hollywoods-convergence-with-web3","status":"publish","type":"post","link":"https:\/\/centralrecorder.com\/full-mint-films-wants-to-be-the-center-of-hollywoods-convergence-with-web3\/","title":{"rendered":"Full Mint Films Wants to Be the Center of Hollywood\u2019s Convergence with Web3"},"content":{"rendered":"\n

The media industry is constantly looking for new ways of connecting with audiences and monetizing content<\/p>\n

\n

Stock prices for Netflix stock, Disney stock, Warner Bros stock. Wall Street refuses reward different entertainment media strategies and Discovery and Paramount Global are both down in stock prices. Full Mint Films, a microcosm of the increasing convergence between Web3 (and the entertainment industry) is desperately searching for the next growth engine in Hollywood’s turbulent times. <\/p>\n

The media business has been noticing emerging opportunities, especially with the recent focus on NFTs (nonfungible tokens). This is in response to the hope for a decentralized internet that is free from large technology companies (Web3) and user-centric. It\u2019s true that NFT sales have fallen upwards of 90% from a September peak, per the Wall Street Journal<\/a>, and there\u2019s skepticism<\/a> surrounding the fad\u2019s sustainability overall, particularly as the cryptocurrency market continues to plunge<\/a>. While some see the Web3 or NFT space as a bearish market, others see an opportunity to create something new in entertainment.<\/p>\n<\/div>\n

\n

\u201cThe sustainable architecture and technology of Web3, of blockchain and how we see that scaling is this intersection of Web3 into different industries,\u201d Full Mint Films co-founder Karl Singer told .<\/p>\n

\n\t\t\t\t\t\t\t\t\t\"Would<\/p><\/div>\n

Hollywood\u2019s web3 convergence<\/h2>\n

Last year, Fox Entertainment Announcement<\/a>It had invested $100 million in a \u201ccreator fund\u201dBlockchain Creative Labs is a new venture that aims to bring NFT technology to the forefront. Marvel Entertainment and Orbis Blockchain Technologies Limited, a digital collectibles company. Announcement<\/a>Marvel fans had their sights set on a global digital experience that would include collectibles. Fox and Bento Box Entertainment are delivering the September event \u201cKrapopolis,\u201dThe first ever animated comedy series that was entirely curated on blockchain. Hollywood is constantly looking for innovative ways to reach audiences and monetize their content.<\/p>\n

Web3’s advantage, as some view it, is its ability to provide incentive to fans and emerging storytellers.<\/p>\n

\u201cFan fiction has been huge for a long time and NFTs, blockchain and Web3 are going to allow the fan fiction group to monetize that in a really powerful way for themselves,\u201dCameron Van Hoy, a filmmaker, told the story. <\/p>\n

\n\t\t\t\t\t\t\t\t\t\"How<\/p><\/div>\n

Projects in this new medium can create native tokens, or digital assets, that users can earn and play with through either head-to-head competitions or more advanced Dungeons & Dragons-style games all tailored to the lore of new film and TV projects. NFT holders have the ability to design and create work around characters that allows the IP to live its own life after filmmakers are finished. This \u201cgamification\u201dThis allows for high engagement and long-tail monetization. \u201cThe opportunities are really limitless,\u201dVan Hoy claimed.<\/p>\n

Blockchain is an innovation in the entertainment industry. It allows equity holders to access information and empowers them. Hollywood could reduce its dependence on the mass market blockbusters, which require nine-figure financial risk, and instead seek out a loyal but small group of fans who are committed to a project and willing and able to invest in it. It\u2019s a way to fundamentally change development and production funnels. <\/p>\n

\n\t\t\t\t\t\t\t\t\t\"How<\/p><\/div>\n

Full Mint Films has entered into a licensing partnership agreement with 0XB1, an overcollector. $450 Million in NFT assets<\/a>In October, he signed with CAA and has partnered up with Sugar23 to be its entertainment production arm. These efforts are hoped to help Web3 move from a nebulous idea to a practical application. <\/p>\n

David Stein, 0XB1\u2019s business partner and artistic creator of generative NFT collection The Symbols \u2014 which is a unique variation of the alphabet that explores language and perceptions \u2014 aims to add social and educational utility to the mix as well. \u201cI think without it, we\u2019re just a flat extension from the existing film and TV industry almost crawling into the Web3 space,\u201dStein said:<\/p>\n

The ultimate goal of Hollywood, as it seeks to create a digital foundation, might be to connect content and communities. This will allow users to share the experience with each other through new creations that are based on the original IP. It\u2019s the immersive next step for Hollywood, which has historically been slow to change, update or innovate unless forced to by disruptors. <\/p>\n

Can old and new models coexist?<\/h2>\n

Innovating and disrupting the industrial sector is not always without its pitfalls. This raises the question: Is the entertainment industry in an either\/or scenario? Are the legacy and fluid Web3 models compatible? Van Hoy is bullish as he compares the latter\u2019s embryonic stages to that of previous media interlopers that proved to have staying power. <\/p>\n

\u201cI see it shaking out the way that Instagram decimated the magazines in the transition of Web1 to Web 2,\u201dHe stated. \u201cWhen we gave people the ability to communicate and to comment, like and share, it was a drug that no one wanted to stop using.\u201d <\/p>\n

\n\t\t\t\t\t\t\t\t\t\"As<\/p><\/div>\n

The hope of digital explorers charting the unknown terrain between Hollywood and Silicon Valley\u2019s futures is that the decentralization of ownership Web3 offers will provide an intoxicating power to new audiences and users. They won’t be passive consumers anymore, but will instead become active creators along with the talent on-screen. Yet as starry eyed ambitious as Van Hoy and others may be, there\u2019s still an acknowledgement that cinema didn\u2019t kill radio, television never ousted the movie theater, and social media hasn\u2019t killed TV. <\/p>\n

\u201cStudios, just looking at history, are slow to adopt in a meaningful way,\u201d Singer said. \u201cSo it\u2019ll be really interesting to see how the entertainment industry holistically shakes out. But I think it will open up market share for a lot of companies like Full Mint to come in and really make waves in the new era of what film and TV is.\u201d<\/p>\n

\n\t\t\t\t\t\t\t\t\t\"Why<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The media industry is constantly looking for new ways of connecting with audiences and monetizing content Stock prices for Netflix stock, Disney stock, Warner Bros stock. Wall Street refuses reward different entertainment media strategies and Discovery and Paramount Global are both down in stock prices. Full Mint Films, a microcosm of the increasing convergence between […]<\/p>\n","protected":false},"author":51,"featured_media":126554,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[101,3,105,106],"tags":[],"jetpack_featured_media_url":"https:\/\/centralrecorder.com\/wp-content\/uploads\/2022\/08\/Full-Mint-Films-Hopes-to-Be-at-the-Center-of.jpg","_links":{"self":[{"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/posts\/126553"}],"collection":[{"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/users\/51"}],"replies":[{"embeddable":true,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/comments?post=126553"}],"version-history":[{"count":1,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/posts\/126553\/revisions"}],"predecessor-version":[{"id":126555,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/posts\/126553\/revisions\/126555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/media\/126554"}],"wp:attachment":[{"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/media?parent=126553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/categories?post=126553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/centralrecorder.com\/wp-json\/wp\/v2\/tags?post=126553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}