First there was Matt Damon’s ill-timed adIf so, the Crypto winter is then the Crashes of FTX.
The last year wasn’t a great one. for the The crypto market However the promise of The goal of blockchain technology is not to make investors rich. of Blockchain technology. If there’s a silver lining to this latest implosion, it’s that we should finally decouple these events from the Potential that Web3 Technology must transform Hollywood for Fans, creators, and the industry’s development and production processes. There is no other place like it. the Opportunities for Web3 It is more important than ever and it’s more feasible. in the entertainment industry.
Web3 in Hollywood It has the Possibility to create more different creators the Bring more people to the table and help them get projects started, retain and deepen their audience, and ultimately lead them out. of the era of There are prequels, sequels, reboots. While fortune did not favor those who followed Damon’s advice, Web3 Fans and creators are in the same boat of entertainment.
This is the reason why investing in Web3 Projects in Hollywood The number of people who are interested in this subject continues to rise. Andreessen Horowitz opened recently a Santa Monica branch to supervise many. of Their Web3 UTA and investments recently partnered Investcorp Increase their investment in Web3 Warner Brothers and startups just created an NFT Account. TwitterIt is a sign of a public commitment the category.
To succeed, it’s more than just dropping an NFT in Web3 in Hollywood. Guideposts can be found at Web3 Pioneers pave the way the way Success is possible in the Space is important and every person, from startups to large studios, would benefit greatly from these aspects.
Authenticity: Both actions and messages must be consistent
Most importantly, don’t call a project “Web3” Just because an NFT is dropped does not mean it will be lost. Promise of Web3 This is all about ownership for Community and creators the Involvement of the community. The key to success is community the Assistance of the It is best to start early Web3 community and the incongruous nature of It is possible to turn Web3 Cash grabs and projects will soon be identified.
A major studio discovered this the hard way With its Web3 Project when they first listed their NFTs for A narrative about the accessibility of fans is included with every order. The sales were disappointing and the company had to rebuild. Marketing and communications the Your business model must match. It is possible to build it the Right wayThey will, indeed. It is important to label it Web3 Without the benefits of Web3They will. This leads me to…
Courtesy and customers (a.k.a., don’t move the furniture until you’re a resident)
It may sound like simple advice, but it’s important: Pay attention to and honor the Progression of People who bring Web3 This is the point. Each day there are advances in This is a fast-moving area.
Stoner Cats And Heads of DeadTwo of the The earliest examples of It is clear that asphalt can be paved the way for Building a Show on the blockchain, built huge communities of Early adopter evangelists. These groups understand authenticity and are concerned about respecting others the pioneers of the Web3 community. Students would benefit from new projects. of the Space and understanding, honour and incorporation the advancements. Along with setting up your project, the This will allow you to build trust with your community.
One of the Most exciting aspects of Web3 in Hollywood The ability of the organization to engage deeply in communities and give them a voice by creating a sense of belonging. in content development. In an era when streaming platforms fight for our attention for Survival and major studios are cutting departments early Web3 Communities look extremely promising for It is possible to turn that tide.
The first Web3 show, GimmicksNFT holders had the opportunity to participate in plot lines and character stories each week. An audience of Only 5,000 NFT owners produced over 70,000 On-chain Engagements per week (which actually are transactions). in Web3You spent approximately 15-20 hours per week reading content, voting and punching DIC, creating Wikis, and interacting with other community members.
It would be like watching the Same show, 40 times in One week is crazy! of in the content world. This level of Active engagement begins to look more like gaming. And it’s also the Kind of long-term engagement and passionate fandom that’s the Foundation for Each hit Entertainment IP.
To the This meant that the writing team had to determine a way Balance community participation and creative oversight Traditional Hollywood Can have difficulty with loosening the reins at all. Participatory storytelling doesn’t happen by accident in Traditional models are also available. for For fans that simply means to relax and enjoy (or not). in lean-back mode.
Continue reading GimmicksExperienced Hollywood Writers “The Daves” The team was able to maintain creative control. of A story arc of They are created while opening doors for Fans are encouraged to participate on a weekly basis. The key ingredient to success is understanding how to properly use “prompts” And “white space” Collective springboard for Participation and creativity are key to a successful development the world in You can find more information at way that’s authentic to both the character’s journey and the community’s relationship to them.
Silicon Valley is the key to convergence for Hollywood Projects
Producing a Show in Web3Creators must be creative in Terms of Fan experience is more important than content quality. These are the most popular Web3 These projects are somewhere in between passive viewing and interactive gaming.
We create opportunities for fans to not only take part but also have the opportunity to participate in Engage with your fans and share your stories in Fun and innovative ways to have fun the These elements build trust and community around the content. Here traditional tradition comes in. Hollywood Production teams have many options. the Muscle of Silicon Valley’s tech companies create memorable social experiences to increase fandom and harness technology the The true source of power of To build lasting entertainment, we need to work together IP/franchises.
Get in touch Hollywood 3.0
Web2 launched the “creator economy” Open the To scores of doors of new storytellers, the best of whom were able to translate Web2’s success to mainstream Hollywood careers. But today, Web2’s platform limitations related to control (changing algorithms impact reach) and monetization don’t offer the Similar opportunities for There are new creators.
For different reasons — slashed budgets, competition and risk-averse executives — even mainstream Hollywood Creators and platforms find it more difficult to connect with and keep their audiences. Web3 It has the Potential to resolve both of these problems and bring about change in a new era of interactive entertainment that’s a win for Creators and executives
John Attanasio cofounded the company of Toonstar.
We are glad you came to the VentureBeat community
DataDecisionMakers brings together experts from all disciplines, such as the Technical people who do data work can help each other with data-related insight and innovations.
For the most up-to date information on cutting-edge trends and best practice, you can visit and the future of DataDecisionMakers is your place for data, data tech and more.
You might even consider contributing an article of Make it yours!
DataDecisionMakers: More Information