Non-Foldable Tokens (NFTs) leave almost no part of the physical world unchanged. From museums and major fashion brands like Gucci that are embracing technology to the digital items of musicians breaking old song rights distribution tactics.
Now, even television, or in the age of broadcasting – scheduled programming, take NFTs as a vehicle for crowdfunding programs. NFTV streams crypto-themed content but uses NFTs as the backbone of crowdfunding offerings while providing viewers with some insight into what’s on deck.
Each program contains a set of related NFTs, which give creators the reins of their projects, rather than giant media houses, while their owners have the opportunity to contribute content.
NFTV co-founder Greg Sipes spoke with Cointelegraph to discuss the fine line between democratizing content and seeing an artist appear true to themselves.
Big names in the entertainment industry have joined the NFT craze, such as Kim Kardashian, Snoop Dogg, Eminem and Matt Damon. When it comes to creative directing, many artists have a specific vision for their content, especially industry veterans with a particular style or ensemble.
When NFTs come into the picture and give feedback to the community, Cipes said this can “completely” steer clear of creators, and should walk a fine line.
Related: The Creators Economy: How We Got There, and Why We Need to Upgrade Web3
He has linked upcoming NFT-based broadcast networks to working like a pirate ship where the captain has the final say and all other decisions are democratic, like the VIPs.
“Everyone has a role, responsibility and accountability that they must have. [And must] Lead their team with creative freedom.”
Cipes has continued to highlight the added benefit of NFTs in setting up network television as the keys to additional network perks, such as subscription membership but with tangible capabilities and ownership aspects.
“Content is a great way to connect the concept of NFTs to a tool like entertainment.”
NFTV will have content related to topics trending in the crypto community such as Bored Ape Yacht Club and NFT-world Cartoon among others.
One barrier is a precise understanding of how NFT democratization works, even from within the crypto space. Cipes says that with this project and others, hands-on participation helps increase public understanding of the technology.
“People get more projects when they participate in the media they enjoy consuming.”
The crypto community itself also continues to drive entertainment and mainstream projects, as they tend to be catalysts for both adoption and education over real-world utility.
On October 18, blockchain solutions provider Ripple announced a second wave of $250 million in funding for its creators program to bring Web3-focused entertainment and media.
Originally published at San Jose News Bulletin
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