How Show Business Is Moving To The Metaverse

The introduction of NFTs over the last 24 months has fascinated many areas of society. From a very novel concept that most people outside the blockchain community have never heard of, NFTs have become globally recognized and more widely used.

Perhaps one of the more interesting things about NFTs is that they Applicable to virtually all industries.. In the art world, they are used to sell works of art, and artists like Beeple sell NFTs for millions of dollars. In sports, organizations like the NBA are releasing NFTs to commemorate this season. Even games are NFT enthusiastic, and top companies like Ubisoft are injecting NFTs into recent releases.

If the industry deals with all kinds of content, NFTs seem to find a way there.Art, games, sports and entertainment projects have started It will be a concept plateau Or do you just find the groove?

NFT in the movie

If somewhere NFT can be applied, It’s the entertainment industry. After all, Hollywood is synonymous with content, and NFTs have proven to be a way to deliver content.

Especially for movies, it seems like it’s already happening. For example, actor Kevin Smith released his latest movie, Kilroy Was Here, as an NFT. Those who purchase NFTs can access the movie and influence the outcome of the sequel.

Director Quentin Tarantino has also released his cult classic film Pulp Fiction as an NFT, greatly increasing the tendency for films to be tied to NFTs. NFTs seem to be a way to encourage viewer participation, not just actually release content.

In Smith movies, fans can influence the events of the movie’s sequels. This is almost unprecedented in Hollywood’s major productions. This shows how NFTs can change the status quo in the entertainment sector. Fans can not only financially support the art they love, but also feel like the core of a large creative process.

Check out the latest Coachella Music Festival with attendees from all over the world. The performances of the event have been broadcast live millions of times around the world, and there were requests from those who could not participate directly. Then imagine that millions of these people can buy virtual tickets and attend the Metaverse festival. The possibilities are endless.

NFTs are also aware of applications when it comes to creating products that have always been a big part of the entertainment industry. For example, the latest Batman movie had an NFT tie-in featuring a digital rendering of the superhero’s iconic cowl. As we’ve seen, this is another way movie fans can get some of their favorite franchises, much like buying action figures and t-shirts.

NFT-based companies are aware of this and are responding to the market. For example, MetaFactory allows users to create “digital physics” products. These items can be used within the Metaverse, where NFTs thrive as products and as interactive avatars themselves. Therefore, you can use MetaFactory to create products that can be easily tied to your entertainment project.

One of its biggest selling points is the ability to use the asset in different metaverses. If the NFT T-shirt was created for a franchise, it can be used in virtually any Metaverse. This is especially important given the fact that many of them pop up and are based on different blockchains.

Given the ease of creating assets, MetaFactory makes it easy for fans’ products to enter NFTs and metaverse spaces.

Next is the NFT project, which incorporates many of the classic Hollywood media metaphors and makes them possible. We will cover GAMA, an NFT-based metaverse based on the idea of ​​space exploration.

Using NFTs and project native tokens, users can explore the GAMA space station and dive into “space” to harness their energy. NFTs are limited and only 10,000 exist, but NFT ownership can be acquired along with other perks.

GAMA not only lets users enjoy the magic of virtual space, but also offers products and face-to-face events.

Imagine the potential of large-scale use of this type of platform, especially given Hollywood’s obsession with space adventures. Can you enter the world of Star Trek soon? That is a possibility.

Next, we have a project that aims to facilitate the transition to this metaverse. Take the SIMBA chain, whose mission is to support existing businesses, especially in entertainment, and make the leap to the Metaverse. For example, the company’s recent collaboration with the Emmy-winning anime series Lost in Oz creates blockchain-based products and experiences for fans of the series with the Bureau of Magic.

Another of its latest projects will be unveiled this month with the development of the NFT Marketplace for Club Brugge, Belgium’s premier football club.

Rob van Es, Chief Revenue Officer of the SIMBA chain, explains the announcement: The entire digital world, filled with fan-first-oriented interactive moments, will be available to Club Brugge fans. “

This is a recurring theme among NFT space projects that interact with entertainment companies. Like most companies that don’t want to set up an in-house coding team to launch a new website, you don’t have to write an NFT tool from scratch.

To meet this need, several projects have been launched to meet the NFT needs of existing companies, down to specific industries.

With all of this, there are still some basic issues that need to be addressed, primarily NFT validation. After all, for large-scale entertainment use, you need to check both the buyer and seller of the NFT.

The solution to this exists through the Ottó Blockchain by PLUGnet, a KYC-compliant smart finance blockchain that serves to validate NFTs. It is a multi-chain and works with different blockchains. Therefore, it can be widely applied to identify the platform used by NFT buyers and sellers. There is no doubt that this will be much more in demand in the future. All this is done while remaining cost-effective for companies using Ottó.

“Ottó does that while protecting user privacy without the use of gas,” said Jeff McDonald, CEO of PLUGnet and founder of Ottó Blockchain.

New Hollywood

The entertainment world is currently in transition and NFTs seem to be at the center of this transformation. There is a good reason for this. They provide owners with access to a more interactive fan experience and also represent a new era in which fans are in the driver’s seat of the entertainment business.

These efforts extend not only to the Metaverse and Silver Screen, but also to real life. After all, the entertainment world also includes face-to-face experiences. The NFT project Drunken Monkey Members Club does both. The project not only provides less than 10,000 NFTs featuring monkey-themed artwork, but also provides members with a hands-on VIP experience.

NFT holders have access to a variety of luxurious venues and experiences around the world, including London, Dubai, Las Vegas, Barcelona, ​​Paris, Milan, Bali, Mykonos, New York and Ibiza. Launched in March 2022, the NFT acts as a kind of membership pass, similar to the access provided to Disney VIP Club and subsequent Disney World.

Needless to say, as Hollywood evolves into the future, it’s clear that NFTs will not be left behind.