VIP+ charts NFT activity in entertainment — who's seizing the massive new revenue opportunities, and what pitfalls await?
The companies included in VIP+’s NFT analysis have barely scratched the surface of the intellectual property they own, which means many organizations will be just starting to create roadmaps for NFT drops to take place in the next decade.
NFTs offer the promise of walking away from the licensing era and going back to consumers owning what they buy. This is especially promising for entertainment companies, as it offers the promise of two additional revenue streams, even if only one should be adopted. The premise of the NFT smart contract, which allows the NFT creator to set a permanent royalty fee for resales when minting the NFT, also is attractive to media companies. Note that a resale fee doesn’t need to be included, but many independent artists do so as it means that they will always profit from the value of their work increasing over time.
If entertainment companies really move ahead with incorporating smart-contract resale fees into their content, there will be an inevitable backlash once consumers find out that selling a movie for $5 doesn’t yield $5, and it will give a perception that once again big corporations are using tech to exploit consumers.did not implement resell revenue
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kirobo Brings NFT Minting to Crypto Wallets via Liquid Vault | HackerNoonKirobo have developed a Defi-focused wallet with the ability to store and mint non-fungible tokens (NFTs).
Read more »
Three Music Writers Descend Into the NFT Craze at SXSWOne NFT-fatigued, NFT-curious, and NFT-skeptical just into the fray at SXSW Music.
Read more »
Common NFT Scams & Safety Tips 2022 | Binance BlogNFT scams are becoming increasingly more sophisticated, making it easier for anyone to fall for them. Learn how to protect yourself with Binance today.
Read more »
NFT collections brought to life at SXSW: Doodles and FLUF WorldCurious about how doodles and flufworld to took SXSW to showcase what their NFT communities look like? Read on to find out. (Reporting via Ornella_Hdz)
Read more »
Crypto and NFT Discussion Has Surged on Twitter | CoinMarketCapDiscussions about NFTs, crypto gaming, fan tokens and stablecoins are surging right now, according to a new Twitter report 📈 Find out which trends you should be keeping an eye out in the future 👀
Read more »
Forbes Virtual NFT BillionairesJoin the virtual fun as an owner of a Forbes Virtual NFT Billionaire, a fictional virtual investor with an enormous imaginary portfolio. Learn more here:
Read more »