Netflix has set tongues wagging by asking its customers what they consider NFTs. This has led many CryptoTwitterers to foretell that the streaming big is searching for methods to get entangled within the NFT house. However how probably is that this prediction?
NFTs and Streaming: a match made in heaven?
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Stoner Cats is an instance of how Netflix and different streaming giants might utilise NFTs. To observe the present, potential viewers should buy Stoner Cat NFTs, with every NFT costing round 0.35 ETH. Such a mannequin might overturn the subscription mannequin and switch NFTs right into a profitable mannequin for streaming giants like Netflix.
Moreover, NFTs can be utilized as advertising instruments for high-profile TV reveals and films. This may be according to Netflix’s present trajectory; particularly, since Netflix is at the moment specializing in constructing franchises, not not like the Marvel Cinematic Universe.
NFTs and the rise of the superfan
NFTs might additionally create communities of superfans that affect the path of particular productions. For instance, an NFT might function a governance token that provides NFT holders the correct to vote on the path of a present or entry unique episodes.
According to GFT co-founder Mitch Chait, “That is only the start or the courting stage of those newfound relationships. IP house owners can now goal and have interaction their prospects immediately, by a totally disintermediated worth chain, driving efficiencies on their finish, which permits their capacity to present extra worth with larger frequency and delight to prospects.”
All in all, NFTs can function a software for IP house owners and streaming giants to fulfill the thirst for a continuing stream of content material. Leisure giants similar to Disney and Marvel have already jumped on the NFT bandwagon. It’s clearly time for Netflix to do the identical.