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The post The Future Of The NFT Market: Investing In The Film Industry Is No Longer Just A Dream appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
Ritestream is a media ecosystem in web3 for the creation, monetization, and consumption of film and TV content. It completely democratizes the creator economy and empowers creators to bring film/TV projects to life through an engaged community.
riterstream enables its users to create and monetize NFTs that reach more than 100 million people worldwide.
By leveraging NFT technology, investors can get involved in the production of films, proposed by established producers, as well as independent creators.
This funding activity is powered by the native token RITE coin, through which initial NFTs are minted pre-production.
Film and TV NFTs can be bought and sold just like a work of art
Let’s illustrate how this works with an example. A Creator lists their film script onto the ritestream Launchpad for funding. When they upload the script and associated metadata (e.g., poster) onto the platform, an NFT is generated in their wallet.
This gives them proof of ownership on the blockchain that can’t be disputed. Imagine that this movie costs $1m to produce and the producer wants to retain 30% ownership of the film.
A million $1 NFTs are now generated and sold to the community which beliefs in this project. So, these one million NFTs represent 70% ownership of the project.
These NFTs can increase in value (say, a famous actor gets attached to the film) and be traded on the ritestream marketplace or on open markets such as Opensea.
Someone could buy 100,000 of these NFTs and receive additional benefits such as an Executive Producer credit on the film – a great way for someone with a passion for the industry to be involved without having to become a professional producer.
Once the film gets produced, it will be monetized through the ritestream ecosystem including ritestream cinemas in partner Metaverse projects (soon to be announced).
The revenues generated flow back to the NFTs via smart contracts (and therefore to the person who holds these NFTs at that time).
Film and TV shows generate revenues for decades especially if a movie is successful (e.g., Star Wars made in 1977 still makes money today)
Each NFT can then be monetized via the ritestream platform by the creator
- ritestream already has a global network of streaming platforms
- NFT earns revenue based on a pre-defined rate card
- Higher viewership ratings can make the NFT more valuable
- The NFT can be bought and sold through ritestream
Making an NFT
By introducing blockchains and NFTs into the film and TV production industry, new opportunities for investors will be on the rise.
Leading streaming platforms and studios will no longer be the only players when it comes to funding a project, and independent investors will be able to get involved.
Each piece of content created within a project is unique, so naturally, it can be encapsulated into an NFT.
Monetizing the NFT’s
ritestream is a LIVE multi-million dollar business today with 100,000+ hours of content, an expderienced team of 35 people across the globe, 5,000+ B2B customers and reaching over 100m views globally.
NFTs built on the ritestream platform have instant access to this network of streaming services and may be easily monetized through it.
The ritestream app
We will introduce a ritestream consumer app where the community can view content, earn RITE coins, offer important feedback, and interact with other community members to improve monetization potential for NFTs made on ritestream.
So go and register yourself right away to be a part of this revolution and create NFTs and support your fellow creators in this new world of ritesream.
You can register your interest by providing your email address at https://ritestream.io
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