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Some well-known names have now made tokens and NFTs (non-fungible token) available to the market. It doesn’t surprise me that they are taking special interest as the film and music industries have had issues of piracy that impact their business. By using NFTs and blockchain technology, I can see a great potential for the security of their assets and intellectual property. There is one cryptocurrency that I have read about that actually addresses media - The Graph (GRT). If the industry wants to adopt this new technology, GRT directly addresses storage of media on its blockchain.
Here are some of the recognizable names that have made their marks on the chain:
The first filmmaker to my knowledge to have announced the selling of his film as an NFT is Kevin Smith. I read this article back in April and thought it was genius and that other filmmakers should start adopting this same path. His film “Killroy is Here” is being sold as the first film NFT to my knowledge and the owner will have the right to “exhibit, distribute and stream the work.” In the distribution and exhibition world of film, this is a huge deal. He could have sold it to one of the 200 plus streaming platforms or distributors but has put his trust in the NFT market.
Additionally, for all the Jay and Silent Bob fans out there, you can now own a piece of them in the form of an NFT. They have partnered with Semkhor to mint the NFTs that hold their beloved characters in several types of 3D art. The Platinum Token NFT will grant the owner a crypto cameo in his next film “Clerks III” - what that means, we have yet to know.
Smith definitely has made bold moves in his career since the start and has won over audiences. I hope he does the same with his new crypto venture. Media assets on the blockchain has definitely stayed with me and the implications of the industry, as piracy had obliterated it in the past. If big studios pay attention here, there could very well be the start to a new dawning of the protection of securing media assets and creating a stable revenue stream for both the entertainment and cryptocurrency industries. GRT, as mentioned above, has Hollywood written all over it.
Steve Harvey throwing his hat in the ring of NFTs was the biggest surprise from the others on the list. But after reading more about it, it actually doesn’t surprise me. Harvey has been a savvy business man since he broke in - he worked super hard as a stand-up and went on to write books that have been made into movies and is a frequent face on US television. It only makes sense that he has been stuck at home looking for the next business venture and he has found it with NFTs. He has put three categories of his collection on Rarible, selling all proceeds to his foundation that supports the success of young people.
To me, it seems like a slight test run to see how far this technology gets Steve and if its worth further investigation for him to be all in on crypto. Cheers for him on recognizing the potential and furthering his cause.
Slim is not done yet. He is keeping up with the times, in spite of all the talk of him being too old. Clapping back at the haters, he has launched his collection of 50 NFTs on Nifty Gateway, minted with three different Slim Shady animations and produced tracks by himself.
Fans have enthuasiastically embraced this offer and the first one sold for $1.78 million.
Another fan bought one for $100,000 that came with an Air Jordan collaborated pair of shoes. The fan then created a Youtube video with the beats provided by Shady, which has received over 7.7 million views.
Don’t worry if you aren’t able to get in on the initial 50 available, 888 are reported to be available some time soon.
Remember “Tiger King” from Netflix? The documentary that helped many get through the pandemic? The brawling duo that captured the attention of many in lockdown are still vying for our attention - this time in the crypto scene.
Carol Baskin, antagonist tiger queen, has minted CAT. A currency for fans to buy merchandise and experiences at her animal sanctuary. Currently priced at $0.2293 and max volume of 15 million.
Not to be outdone, of course Joe Exotic has to clap back at Carol with his own token TKING, an ethereum chained based (ERC20) deflationary token, 3 million has been minted. It currently is priced at $0.00000381. 35% of the pool has been burned and with each transaction, there is a 2% burn rate. Joe himself owns the most, making this a profitable outcome for him. NFT’s from Exotic will be for sale as well, and proceeds will go to his legal expenses and tiger rescue efforts.