{"id":1454,"date":"2021-06-04T13:26:17","date_gmt":"2021-06-04T13:26:17","guid":{"rendered":"https:\/\/www.kaashivinfotech.com\/tutorial\/?p=1454"},"modified":"2021-06-04T13:45:12","modified_gmt":"2021-06-04T13:45:12","slug":"the-impact-the-blockchain-is-making-in-the-entertainment-industry","status":"publish","type":"post","link":"https:\/\/www.kaashivinfotech.com\/tutorial\/the-impact-the-blockchain-is-making-in-the-entertainment-industry\/","title":{"rendered":"The Impact the Blockchain is Making in the Entertainment Industry"},"content":{"rendered":"<p style=\"text-align: justify;\">The rise of the blockchain in recent years has been fascinating, as it has changed the way that we view things like investments and international payments. Yet could its biggest and longest-lasting impact be in the way that the entertainment industry works?<\/p>\n<p><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/QpuX-ovQ2Og\" width=\"898\" height=\"505\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h2 style=\"text-align: justify;\"><strong>Royalties Can Go Directly to Content Creators by Cutting Out Third Parties<\/strong><\/h2>\n<p style=\"text-align: justify;\">One of the most interesting things about the blockchain is how it allows peer to peer communication and payment. Music is an area where this approach could be particularly useful in the future. Imagine a situation in which you could listen to a new song knowing that the royalties go directly to the artist. With a record \u00a3810m in music royalties paid out in the UK in 2019, this is a huge industry where there are over 52 million paid subscriptions to streaming services like Deezer and Amazon Music in the US alone.<\/p>\n<p style=\"text-align: justify;\">Opus is an example of the kind of blockchain-based platform designed to make things fairer in this respect. They state on their website <a href=\"https:\/\/opus.audio\/\">that artists will get 90% of expected revenue<\/a>, compared to around 20% on conventional streaming platforms. The same idea could be applied to areas such as film-making, TV shows and even books, as content creators can receive the money that their work makes directly.<\/p>\n<p style=\"text-align: justify;\">This could also help to build a stronger bond between consumers and the artists. It would allow content creators to offer special deals directly to their most loyal fans too. Another area where this could make an impact is in sports. In 2020, fans of the Barcelona football club bought over $US 1.3m of virtual tokens to give themselves a bigger say in how the club is run while pumping money directly into Barcelona. <a href=\"https:\/\/www.kaashivinfotech.com\/blockchain-internship\/\">The availability of blockchain internship opportunities<\/a> should see more companies able to call on experts to implement schemes like this in the future.<\/p>\n<h2 style=\"text-align: justify;\"><strong>Bitcoin and Other Tokens Are More Widely Accepted<\/strong><\/h2>\n<p style=\"text-align: justify;\">The use of Bitcoin and other virtual payments has made life a lot easier for us in the last few years. Bitcoin reached a new record number of transactions in December 2017, when growing interest in the token meant a total of close to 500,000 transactions in a single day. While the number has dropped off since then, it is clear that a lot of people are now used to making payments or sending money in this way.<\/p>\n<p style=\"text-align: justify;\">Some of the things that you can pay for online with BTC include internet services such as cloud storage and paying the cost of VPNs like CyberGhost. You can pay directly using Bitcoin on the Xbox and PlayStation networks, and while <a href=\"https:\/\/www.theverge.com\/2017\/12\/6\/16743220\/valve-steam-bitcoin-game-store-payment-method-crypto-volatility\">Steam stopped accepting Bitcoin payments in 2017<\/a> due to the volatility and fees involved, you can use other games providers to obtain a Steam key in this way. While some sites offer free Steam keys for free games, you can pay using Bitcoin for games that cost money.<\/p>\n<p style=\"text-align: justify;\">Cryptocurrency payments are also accepted by some online casinos, which can help players to include this as part of their overall money entertainment budget. Beyond that, this isn\u2019t the only change seen in online casinos recently due to changes prompted by technology. Just like cryptocurrencies, live-stream games have seen a similar boom in popularity due to technological advancement that has made such sites easily accessible. For example, the <a href=\"https:\/\/betway.com\/en\/live-casino\">Betway site confirms the presence of live-streamed games<\/a> many of which can be accessed anywhere from PC or mobile with real human dealers. Titles such as Live Mega Roulette, Live Baccarat and Live Dragon Tiger offer a variety of ways of playing with a human dealer. These games are combined with more traditional slots for a varied casino experience.<\/p>\n<p style=\"text-align: justify;\">&lt;iframe width=&#8221;898&#8243; height=&#8221;505&#8243; src=&#8221;https:\/\/www.youtube.com\/embed\/ZE2HxTmxfrI&#8221; title=&#8221;YouTube video player&#8221; frameborder=&#8221;0&#8243; allow=&#8221;accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture&#8221; allowfullscreen&gt;&lt;\/iframe&gt;<\/p>\n<h2 style=\"text-align: justify;\"><strong>Smart Contracts Make Payments More Transparent<\/strong><\/h2>\n<p style=\"text-align: justify;\">We are now spending more on entertainment services than ever before. Between the likes of games, music and movies, this has become a hugely important part of the global economy, as we can see in the fact that American entertainment companies spent more than $US 120 billion on original content in 2019. Meanwhile, the Digital Entertainment Group pointed out that the $US 26.5 billion spent on digital entertainment in 2020 was over 32% greater than the total from the year before.<\/p>\n<p style=\"text-align: justify;\">All of this means that a huge volume of money is being spent every day on these different forms of entertainment. This is why the transparency that comes with the blockchain can be beneficial. Every single transaction that is made is recorded on the blockchain, where it will remain and can\u2019t be altered. The <a href=\"https:\/\/www.kaashivinfotech.com\/blockchain-training-in-chennai-2\/\">increase in the popularity of blockchain training in Chennai<\/a> and elsewhere helps to reveal how important this technology is becoming.<\/p>\n<p style=\"text-align: justify;\">This allows consumers to make purchases and companies to offer services with complete confidence. According to Valuates Reports, the smart contracts market is expected to reach as high as USD 345.4 million by the time 2026 comes along, with a CAGG of over 18% from 2021 onwards driving this increase. To get started, you can buy Bitcoin on exchanges like Binance.<\/p>\n<p style=\"text-align: justify;\">All of these factors help to explain why so many people believe that the blockchain will carry on growing until it becomes ever more important in the global entertainment industry and for <a href=\"https:\/\/www.kaashivinfotech.com\/internship-for-cse-students\/\">students looking to get started on a new career<\/a>. Certainly, all the signs are that the next few years show see its growth rate continue to be as impressive as it has been lately<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The rise of the blockchain in recent years has been fascinating, as it has changed the way that we view things like investments and international payments. Yet could its biggest and longest-lasting impact be in the way that the entertainment industry works? Royalties Can Go Directly to Content Creators by Cutting Out Third Parties One [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[681],"tags":[1661,1663,1660,1664,1662,1658,1655,1659,1657,1654,1656],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Impact the Blockchain is Making in the Entertainment Industry<\/title>\n<meta name=\"description\" content=\"The Impact the Blockchain is Making in the Entertainment Industry - blockchain media and entertainment\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kaashivinfotech.com\/tutorial\/the-impact-the-blockchain-is-making-in-the-entertainment-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Impact the Blockchain is Making in the Entertainment Industry\" \/>\n<meta property=\"og:description\" content=\"The Impact the Blockchain is Making in the Entertainment Industry - 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