Many understand the power of NFTs and content creation. Many more continue to herald the technology as it helps creators connect directly with fans by tokenizing artistic and other creative work.
NFTs are viewed as an important tool towards democratizing creative endeavors, since more people can get involved without having to go through a third-party intermediary.
In fact, enthusiasm for specific NFT projects has led to some unprecedented moments in the crypto world.
The launch of Yuga Labs Otherside NFT collection on April 30th attracted so much attention, crypto traders were unable to buy, sell, and trade on the Ethereum blockchain for three hours due to demand. The swift sale of 55,000 plots of land left Yuga about $320 million richer in the same timeframe.
Even amid 2022’s bitter crypto winter, the innovative nature of NFTs has led some creators to look beyond digital images and see how the technology could be the foundation of new production and media conglomerates.
NFTs Are Transforming From Static Images To Immersive Digital Media
Right now, TV’s at the heart of NFT innovation.
Content creators have been working hard to release NFT TV series, opening up entertainment opportunities for particular NFT holders. One of the first NFT TV shows, Stoner Cats, counts Aston Kutcher, Chris Rock, and Vitalik Buterin as cast members. The adult animated series is produced by well-known actress Mila Kunis.
The Glue Factory Show, another show that premiered in March 2022, raised $3 million in August 2021 from a sold-out NFT sale of 10,000 items. The show’s core writing team includes several industry veterans, along with Ted Danson and Patton Oswalt as cast members.
Last year’s massive NFT boom also spurred innovation within the NFT movie sphere. In early 2022, Reese Witherspoon announced plans to launch movies and TV shows based around the World of Women NFT project. The actress signaled NFT holders would have a voice in the creation process.
Even Yuga Labs is looking to leverage the massively successful Bored Ape Yacht Club (BAYC) project in new arenas. In October 2021, the entity inked a deal with talent manager Guy Oseary to explore bringing BAYC to film and TV.
Supercute World Intends To Grow Into A Full-Fledged Media Conglomerate
The marriage of NFTs and entertainment avenues like TV, movies, and video games is still in its infancy. Many NFT projects understand they need to turn their concepts into a brand to gain notoriety outside of the crypto…
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