Connect with us

Entertainment

How NFTs will disrupt gaming and music in 2022

 


NFTs have been one of the hottest buzzwords of 2021 (see VIP special report from November 1) and continue to grow in both buzz and sales.

Over the past month, there have been over $ 3 billion in NFT sales across 10 blockchains, with Ethereum accounting for more than half of that figure, with $ 1.7 billion in sales alone.

With the new industry apparently licensed to print money, there have been an increasing number of companies looking to enter the market. During the third quarter earnings season, figures like WWE and Electronic arts made specific mention of NFT strategies, joining Fox, WarnerMedia, Live Nation Entertainment, Warner Music, the NFL, the NBA and many more to take an increasing interest in the NFT space.

The interest in TVN goes beyond the creation of new sources of income. In many entertainment industries, NFTs feature a radical re-imagining of power structures, removing the middle man and allowing artists to share a much larger slice of the revenue pie.

NFTs allow artists and creators to receive the lion’s share of first sale revenue (around 80%), with royalties set and incorporated into all subsequent sales via smart contracts.

It was especially interesting to hear from EA, which releases franchises such as the annual “FIFA”, “NHL” and “Madden NFL” titles, given that its current model of video game DLC is contrary to NFT in games. These titles generate additional revenue via players paying to unlock additional players for dream teams in sports titles, or to unlock additional skins or game gear for other titles, and are not transferable between games. .

In contrast, NFT games such as “Axie Infinity”, “Metawars” and “Sandbox 3D” allow in-game purchases to be retained forever, to be exchanged for cryptocurrency, and in some cases, for Items gain value as they are used in the game. This is known as ‘play to win’ and can be best conceptualized by thinking about how a player can add experience and improve characters or weapons in the game.

“Play to win” is where game publishers and video game platforms will take the most notes, as they will be able to charge extractive rent on every sale made. It’s doubtful that this offsets any potential drops in revenue from annual in-game DLC sales, unless publishers agree to add past purchases to annual updates (consider moving your Tom Brady 2022 edition to “Madden 34”).

Music is another industry on the way to transformation, with NFTs providing artists with a way to make a living from their production without having to sign for a label and compromise their creativity. A good example of this comes from the rapper Latacha, who chose to become independent following her experience with the label and adopted NFT as a distribution mechanism for her production.

In May 2021, Latashá’s music video for “MAKDA VERSE” sold for 2.5 ETH (the equivalent of $ 11.3,000 at the time) on the Zora platform. It was after offered for resale for 1,111 ETH ($ 4.9 million), with 30% of the final price going to the artist and his collaborators via the terms of the smart contract defined with the initial sale.

This represents a much higher rate of return than what would traditionally be generated by rental record companies, allowing more musical artists to make a living from their art and essentially be a true form of spinoff economy.

NFTs offer musicians additional income opportunities. 3lau, an EDM artist, is perhaps the best-known example of an artist offering shares of streaming revenue to fans through NFT, getting the community to then listen and promote as much as possible to increase their own profits.

NFT revenue splitting is also used by Latashá in the sale of “MAKDA VERSE” through a service called PartyBid. PartyBid allows the NFT community at large to own a share of the content sold, with the remainder of the set price being paid by the buyer.

Expect the big labels to adopt NFTs. The example given by Latashá may well see the majors looking to monetize their vast library of clips, although it is possible that they overstate the initial sale price and block their own success.

There will be an increase in NFT add-ons for signed artists, whether they are rare items offering real-life experiences like the Golden Ticket of the Kings of Leon, additional content available for purchase in a short period of time via NFTs, clips from concerts or festivals attended or event tickets, or collaborations with existing NFT properties like “CryptoPunks” or ” Meebits “.

NFTs therefore represent substantial revenue opportunities within the entertainment industry, but also pose a threat to existing custodians. With the metaverse on the way, it is highly likely that NFTs will play a significant role, with the current disruptions by no means being the last waves NFTs will create in the industry.

Sources

1/ https://Google.com/

2/ https://variety.com/vip/how-nfts-will-disrupt-gaming-and-music-in-2022-1235107376/

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]