Blockchain In Media And Entertainment

Mitigate piracy of digital content and achieve greater visibility across content creation and distribution lifecycle.

Media and Entertainment Industry: Ripe for Blockchain Adoption

The media and entertainment industry is affected by the commoditization of content and ubiquitous piracy of intellectual property (IP). Today, media users have free access to digital content and most of them are hesitant to sign up for paid subscriptions for premium content. In addition, the industry is beset with co pyright infringements. The new consumption models and streaming subscriptions have contributed to only partial recovery of revenue leakage.

All these inefficiencies make the media and entertainment industry an ideal use case for blockchain adoption. Blockchain in media and entertainment can help with decreased IP infringement, provide greater transparency into who owns the content, and enable monetization of copyrighted assets through smart contracts.

Blockchain Frameworks We Utilize for L2/L3 development

Bloom Genesis’s team of experienced blockchain developers has a deep understanding of L2 and L3 blockchains and their underlying frameworks. Our expertise lies in leveraging the robust capabilities of these frameworks that enable businesses to seamlessly launch L2 and L3 chains, particularly on Ethereum. We specialize in implementing advanced rollup technologies to enhance scalability and ensure your blockchain infrastructure can handle increased transaction volumes without compromising performance.

What is your business use case? Connect with our subject matter experts to turn your use case into a great product.

Use Cases of Blockchain for Entertainment Industry

Content Pricing

Blockchain can make the distribution and monetization of bite-sized content smoother and more accessible. It can empower copyright owners to keep track of the usage of their material and receive their fair share of profits accurately and cost-effectively.

Bypassing Intermediaries

Artists can sell their digital music or videos directly to their fans without the need for intermediaries like record labels. The allocation of revenues from music streaming, whether from advertising or paid content can become more fair.

Royalty Distribution

End-to-end visibility on a supply chain network helps pharmaceutical companies to prevent counterfeit medicines from entering the chain and reduce overall pharmaceutical costs.

C2C Sales

Businesses in the manufacturing sector can use a Blockchain supply chain software to track the spare auto parts, check the provenance of their products, and streamline auto safety recall processes.

Unrestricted Content Consumption

Blockchain Supply Chain solutions empower healthcare organizations to maintain a dependable inventory of medical devices and infrastructure which ensures efficient management, reliable performance, and product authenticity.

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Frequently Asked Questions

Blockchain-based gaming paradigm offers benefits like true ownership of in-game assets, interoperability and cross-game compatibility, transparent and secure transactions, and play-to-earn opportunities.

Integrating blockchain into game development offers several advantages:
True Ownership of In-Game Assets: Blockchain allows players to have true ownership and control over their in-game assets.
Enhanced Player Engagement: Blockchain games often introduce unique gameplay mechanics and economic models that incentivize and reward players.
Decentralized and Transparent Economy: Smart contracts and blockchain technology enable secure and trustless transactions, eliminating the need for intermediaries.
Anti-Cheating and Fraud Prevention: Blockchain's immutability and decentralized nature can help combat cheating and fraud in games.
Innovative Funding Models: Through Initial Coin Offerings (ICOs) or token sales, businesses can directly raise funds from the community, reducing reliance on traditional funding sources.

Blockchain platforms commonly used for game development include Ethereum, Binance Smart Chain (BSC), Flow, Polygon, and Tezos.
 
Many blockchain games use decentralized consensus mechanisms, such as proof-of-work (PoW) or proof-of-stake (PoS), to validate and verify game transactions and actions. Consensus algorithms ensure that multiple nodes in the network agree on the validity of gameplay, making it difficult for a single entity to manipulate or cheat the system.

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