It appears that Netflix has taken a liking to the new world of NFTs and blockchain, and for a good reason. Many artists, film makers and influencers alike are pro NFTs, because it gives them the ability to expand their product/service offer to their fans. Here are some popular examples of artists that made a 7+ figure success in this space include Bipple, Trevor Jones and Fewocious.
Netflix is not a conservative party and if there are areas to innovate, they will take that chance. This is evident from their recent tweet post asking fans “what are your thoughts on NFTs”, which went viral. Just like many other big names such as Nike and Adidas, Netflix dares to dip its feet in uncharted territory. Love, Death + Robots is one of the first examples of Netflix allowing production companies to incorporate NFTs in their films.
If you are looking to learn more about NFTs and how you can successfully market them please checkout this article.
The new series featuring on Netflix Love, Death + Robots is an animated collection series directed by Tim Miller and David Fincher (the directors of Dead Pool and The House of Cards).
The show is a collection of short films that vary in length somewhat random in genre and style. It is understood the series has been developed by teams from different parts of the world. This means that you could expect the content of each episode to be unpredictable, with a wide mixture of culture and norms.
The new hit show features hidden NFTs in its episodes, if you spot one you can collect it. This is done by using the QR code that appears subtly on the screen during the show. In total, there are 9 QR codes found in both official social media accounts and within some scenes of the episodes. The viewers of the show will simply need to scan the QR code in order to redeem the NFT on their OpenSea account.
This is not the first time Netflix has experimented with its audience, finding innovative ways to interact with viewers. Do you remember that Black Mirror episode where the viewer could choose how the episode plays out?
Based on the amount of money purring into the NFT space, Love, Death + Robots will not be the last NFT experiment Netflix tests. There are also talks of an NFT range being introduced to the hit series “Stranger Things” season 4.
NFTs are changing the way we think of storing value in the digital world. Now literally anyone with an internet connection can mint an NFT range and sell it. Meaning there are a lot of useless NFTs out there, mostly because of people who are looking to scam others for a quick buck. But once the dust settles and the NFT market collapses at some point new innovations will rise and flourish, just like the .com bubble.
Here are some ways NFTs could change the landscape of media streaming platforms as we know it.
Collectibles from your favorite shows
Why can’t collectibles be digital? In the 20th century all collectible items were mostly physical objects. The most popular collectibles at the time included figurines, toys, cards, board games and magazines. Such items usually were successful because of trends relating to movies, sports and music bands which went viral.
Collectible NFTs are not only secure and less likely to get stolen or broken, but they are also somewhat better for the environment. Because they need much less resources to be created. It is anticipated that TV shows in the future will become more interactive, and one way to do it is to create limited collectible NFTs. It is also much easier to sell digital collectibles as you don’t have to worry about the manufacturing and delivery of the product.
Captial raising for show production
NFTs are a wonderful way to raise capital. They are simple to set up, an NFT range can literally be created by a single person in less than a day. Now imagine a great TV show is launching its first series, it’s the underdog and did not have much budget to start out with. You watch it and absolutely fall in love with the story and actors, you can’t wait for the next season to start.
However, the TV show production unfortunately does not have the fundings it needs in order to film the next season. Wouldn’t it be wonderful if there was a way you could save this show and fund it through NFTs?
Earn while you watch streaming models
Why not get paid for watching your favorite TV show? NFTs open up different ways for audience to earn while watching their favorite show. Other than NFT collectables, you can also use NFTs to reward the audience for taking a particular action. For example, if your TV watch time is over a certain number of hours, you may be given an NFT as an incentive.
This incentive could be a one-off ticket to watch a premium movie, or 30-day trial of a more premium TV streaming service. If the NFT you received is not for you, well you own it so you can always sell it. This is where the future is heading, a new Web 3 environment that gives back more to the users and content creators.
Sell your streaming data
Almost every action you take online can be sold as data. Now more than ever tech companies depend on this data in order to make decisions. And today most of the data they collect on us does not cost money. We are constantly being monitored for how we behave online. The Web3 and crypto space is opening a fairer environment for users to earn money for sharing their data (habits).
Wouldn’t it be nice to watch Netflix, and get paid for it?