Digital collectables and NFTs Entertainment impacts for the video ecosystem
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20,000 foot view: Non-fungible tokens (NFTs) have caught the attention of the wider media landscape. However, consumer awareness is niche with just of consumers aware of what NFTs are. Despite this, NFTs represent the vanguard of paradigm shifts in consumer access and ownership of media. NFTs should be seen in the context of a wider digital collectable transition in aspirational digital entertainment. NFT functionality will become an operational must for smart TVs and video networks seeking wider engagement and retention with emerging TV show and film fandoms.
Key insights:
- NFTs represent emerging transition from physical ownership, access-to- ownership, through to digital
- NFT awareness currently low, with only of aware of them
- In-game purchases an insight into the emerging collectable behaviour in entertainment that be replicated in video
- Media streamers, downloaders, and multiple video service all over-index for in-game purchasing, a natural progression to digital
- Smart TVs a mainstream and secure platform NFTs and other digital collectibles be traded, promoted, and displayed
- Ultimately, digital may become as utilitarian as with the focus shifting to experiences powered by technology
- Inter-operable digital that can be migrated between and services will become the output of NFT technology in
Companies and brands mentioned: Amazon, Amazon Fire TV Stick, Apple, Apple TV, Disney+, LG Electronics, NetEase Cloud Music, Netflix, Samsung, and Tencent Music Entertainment