The entertainment industry is monstrous. Just consider the various forms of entertainment…
- Movies and television
- Books and magazines
- Carnivals and circuses
- and much more
It is becoming obvious that blockchain technology can be a huge benefit to many of these entertainment systems.
Just recently, Jaafar Jackson, son of Jermaine Jackson and nephew of Michael and Janet Jackson tokenized his music and himself. Fans will be able to invest in Jaafar and his music by purchasing his token that runs on the Nasgo blockchain. It is called Jusic.
Just listen to this young man sing…
Just as Jaafar has foreseen the benefits of having his music on blockchain, we believe many other artists, film makers, writers, etc… will see the benefits of having entertainment on blockchain.
Let’s look at the benefits of having entertainment on blockchain.
Decentralization Is A Benefit Of Having Entertainment On Blockchain
With a decentralized system, the blockchain allows that entertainment to be seen far and wide.
The current system puts entertainment in a centralized format. An example may be, a new movie is made but certain entities “think” that movie would not have much interest in Europe or Asia. So they make it available in the Americas. Even if the film maker believes it would have a strong following in say China, it won’t be released there because others have the say on that.
If on blockchain, the creator has more power and being decentralized, that entertainment will be available anywhere to anyone.
A Payment System Is A Benefit Of Having Entertainment On Blockchain
With the tokenization process, people will be able to pay for their entertainment using digital tokens or other forms of cryptocurrency. This eliminates costly payment processors and can ultimately bring some entertainment costs down.
There was a day when a person could attend a concert for $5 – $10. With today’s system, you can’t even park your car for that.
But using your tokens to purchase the tickets, we should see concert tickets come down in price as we see those who have their hands grabbing some of the revenues are eliminated.
There is another payment related benefit… Micro-payments will be easier using digital money. If you want to buy 1 song instead of the whole album, it is possible on blockchain, but doubtful Mastercard or Visa would allow such a small purchase.
Smart Contracts Are A Benefit Of Having Entertainment On Blockchain
Be it the backup band, lighting personnel, editors, etc, there are various other people who need to be paid for their services.
To ensure these people are paid, smart contracts can be created on the blockchain and when tasks are marked completed and verified, the blockchain system will automatically release their payments. This cuts down on paperwork and accounting and all records of payments are safely stored on the encrypted blockchain.
Proof Of Ownership Is A Benefit Of Having Entertainment On Blockchain
Copyright and Trademark ownership has been an ongoing struggle for many. Blockchain technology will solve that issue completely. He/she who enters their music, book, film or some other creative element on the blockchain first will have ample evidence they are the owner.
After all, blockchain data can not be erased or manipulated. It is similar to carving it in granite.
The Ability To Monetize Content Is A Benefit Of Having Entertainment On Blockchain
Consider newspapers and magazines who, with the advent of the internet, have lost tons of revenues.
But, using the blockchain, these media sources will now have a way to gain revenues back by offering blockchain subscription services that are cost efficient. They can also offer low cost “paid” content whereas people can pay a small fee using digital assets to read, listen or watch various entertaining or news coverage.
I have heard many people in the entertainment industry complaining about how chaotic it can be. Blockchain technology will take much of that chaos away. By creating a barrier from theft, a better way to pay and get paid and the ability to show and sell your creative works to the world as a whole, it just makes sense to get on the blockchain… And Nasgo is leading the way for entertainment professionals.
Are you ready to bring your creativity to blockchain? It isn’t difficult to get it done. If you are ready, we can guide you along. Feel free to comment here or better yet, head over to the Nasgo Facebook page here and just message us and say, I want to get my brand on blockchain. One of the Nasgo experts will contact you back and help you.
If you have any questions or feedback, just comment below and remember to…
Stay Free With Nasgo!