Will the future of Hollywood be on the blockchain?

On April 6, outgoing WarnerMedia CEO Jason Kilar said that the future of Hollywood lies in blockchain. “I think it’s going to be a potential wave that’s going to come to Hollywood just like the DVD wave came to Hollywood in the ’90s,” Kilar said.

Hollywood is considered the oldest film industry and has been entertaining people with audio and video for over a century.The film industry has ultimately survived major historical developments such as the Industrial Revolution, world wars, economic recessions, and even the rise of the Internet and streaming services.

It has adapted quickly to changing consumer patterns over a century and remains relevant to consumers.

In 2021, Hollywood insiders are actively exploring the use of blockchain technology for content creation, and they seem to have found a ticket to the Metaverse in the NFT field.

The rising trend of these digital collectibles presents a golden opportunity for Hollywood actors, filmmakers, and production companies to take full advantage of NFTs to permanently etch their creations into the Metaverse.

Warner Bros. started on this front, launching and selling out a Matrix-inspired NFT collection featuring 100,000 NFT pieces. Whitney Houston had a never-released demo of a song that was auctioned off as an NFT for nearly $1 million a while ago.

Currently, decentralized entertainment and NFT platform Mogul Productions has launched its first character-driven NFT series called Mogies to celebrate the 100th anniversary of the unveiling of the Hollywood Sign.

So far, all of these NFT projects have proven successful and attracted a lot of attention, and these NFTs may end up on the walls of fans’ homes in the Metaverse. To survive in the Metaverse, however, Hollywood may need something more concrete.

The film industry is also currently working on developing iconic character avatars to fit into the Metaverse in every way. Walt Disney’s Disney+ project is a big step in this direction.

Millions of people from all over the world visit Disneyland each year to experience Disney World for themselves. As such, a Disney Metaverse with these timeless characters will have more surprises for fans.

It’s also possible that Marvel and DC will follow suit, with fans potentially saving the world with the Avengers in the Marvel Metaverse. The Metaverse offers Hollywood a huge opportunity to grow beyond movies and open up new dimensions in the entertainment world.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/will-the-future-of-hollywood-be-on-the-blockchain/
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