Digital collectables and NFTs Entertainment impacts for the video ecosystem
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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.
Companies and brands mentioned: Amazon, Amazon Fire TV Stick, Apple, Apple TV, Disney+, LG Electronics, NetEase Cloud Music, Netflix, Samsung, and Tencent Music Entertainment