NFTs are taking over our TV and movie screens
Movies and TV have created a space for people to escape reality for generations. Giving us insight into a world of experiences and lives most of us could only dream of, but for a second while watching it on TV or the big screen, we feel like we are there. Over the years, the industry has created technology that allows us to feel like we’re part of TV and movies more than ever before – like 3D movies and finding secret objects in shows to unlock prizes online. But it does not stop there. Imagine being able to be involved in your favorite sitcom or movie series, not just as a consumer, but as a creative. Having the opportunity to lift the curtain, aka break the fourth wall, and get a behind the scenes experience and be in control. Well, to all my sci-fi nerds, Marvel enthusiasts, and Netflix bingers, hold on to your graphic tees because your wish is coming true thanks to NFTs.
Like most popular technologies, NFTs have found their way into the television industry. One of the ways they are used is “see-for-earn”. A new app called Sator allows consumers to earn tokens just by watching their favorite shows. Users build communities based on interest and genre preference and tune in to TV shows activated on the Sator app. Then, on a separate device, they use the app to earn different rewards. This model allows creators to reward consumers for viewing their content, which in turn will create a stronger community for that program.
Non-fungible stories (NFS) are another use case for NFTs in the industry. A non-fungible story is one created in collaboration with consumers to script based on NFTs that will be collectable digital avatars. This model is a new way for fans to not only consume content, but to be involved in the creative process. The first NFS was created by Carlos Grenoir and actor Alvaro Morte (who plays “The Professor” in the Netflix series “Money Heist”) through their blockchain platform Olyverse. The purpose of the collection is to give NFT holders the opportunity to write the script for a future character called Olyver, to be played by Morte in a 3D metaverse movie.
How does this work? After purchasing five NFTs, you will be given the title of executive producer and the ability to guide how the story is written. Additional perks of the collection include exclusive merchandise, gala parties, BTS content, meet-and-greets and more. Giving fans the opportunity to decide how the story ends sounds good in theory, but there must be limits to how much input is accepted. Otherwise, we’d have a story similar to a “Mad Libs” book (my 90s babies know exactly what I’m talking about). No matter how big or small the decision, I think the NFT holders will be thrilled just to have a say in a new show – even if it’s deciding the color of a shirt or dining room set.
Blockchain-based shows and movies aren’t going to be confined to the metaverse. The creators of “Rick and Morty” have teamed up with the FOX Network to launch a NFT collection for a new animated series called “Krapopolis.” Including NFTs called Krap Chickens, they will give viewers access to a dedicated website with private screening rooms and Discord channels, meet-and-greet information with the cast and producers, exclusive content and limited merchandise. But the biggest advantage as an NFT holder is that they will be able to vote on certain aspects of the series. Putting the power back in the hands of the user is one of the founding principles of the Web3 space, and that’s exactly what these creators are doing. Other NFT-based shows like “Stoner Cats” and “Glue Factory” follow the same model, and it will only be a matter of time before all the major networks have an NFT series on their channels.
Since movies are essentially just longer TV episodes, it makes perfect sense for the movie industry to tap into that as well. The last example is Lord of the Rings The NFT collection that fell last week. It allows holders to watch extended versions of the film in 4K, access hidden AR collectibles, view hundreds of images from the film, access three different set locations you can explore digitally, and eight hours of special features and commentary. There was a lot of backlash regarding the collection, as many of the benefits mentioned were items people had from Blu-ray DVDs. Many fans felt that there was nothing special or new the collection added to the consumer experience. Although I tip my hat to any company that tries to integrate into the Web3 area, there needs to be a level of research and understanding before doing so. One gold star I would give them is because they have a credit card purchase option. This thinking will help more Web2 users into Web3 by introducing them to something they are familiar with. Right idea? Yes. Wrong execution? Also yes.
The NFT craze doesn’t just stop at content for shows and movies. Earlier this year, Samsung announced that it would also incorporate smart TVs. Their new marketplace, LG Art Lab, will allow people to buy and sell NFTs directly from their TVs. The first set of NFTs dropped in September and they will be adding new ones every month. This feature is only available to US residents and those with WebOS 5.0 (or later) access through the app, but they eventually want to expand the experience to everyone worldwide. Samsung’s main goal is to provide a high-resolution visual experience when purchasing non-fungible tokens. Streaming platforms are taking the same approach – Roku has incorporated a channel called StreamNFTs that lets you display your collection and explore others from the biggest art marketplaces.
The possibilities for NFT use i TV and film are truly infinite. We even have NFT projects like World of Women and Bored Ape that use IP and brand to curate unscripted films and shows. I think we are only seeing the beginning of how Web3 can be used in this industry, but very soon it will become so integrated that it will be a part of every favorite show or movie we watch.
