{"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
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 \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 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 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<\/p><\/div>\n
Hollywood\u2019s web3 convergence<\/h2>\n
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