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Blockchain boom in Hollywood

Time : 23/07/2022 Author : mnrf9w Click : + -
        2021 is the year of blockchain breaking. The blockchain industry has received great attention and development in this year, and many giant companies have successively arranged blockchain related industries. For example, there has been a lot of good news about metauniverse recently, first meta company "allin", and then the layout of Microsoft, the world's largest market capitalization, and chip giant NVIDIA. Disney, now the leader of the film and television industry, also said that metauniverse will be Disney's future. After the popularity of NFT, the well-known Hollywood brokerage company announced to sign a contract with NFT project. AMC, the world's largest cinema chain, also announced that it would enter the blockchain to improve revenue and transformation.
 
        Cryptopunks is one of the earliest art NFT projects launched on Ethereum blockchain in 2017. Each punk portrait is generated by algorithm, with specific features (such as hat or facial hair). Although these roles were initially given away for free, their sales have rebounded significantly in recent months. In the past week, the transaction price exceeded US $44million. Some characters cost millions of dollars. Today, the total value of these collections is now more than $1.66 billion. Lesleysilverman, head of utadigitalassets, said: "this is one of the first opportunities for IP, which originated entirely in the encryption world, to enter the broader entertainment sector, and they won it.
 
        They really have a violent impact on the spirit of the times. " Larvalabs said that he regarded this work as a way to maintain or improve the value of the entire collection. On November 8, 2021, adamaran, CEO of americanmulti cinema entertainment, the largest cinema in the United States, said that AMC was seeking to accept crypto as a payment method, and was exploring the launch of its own crypto to sell its own brand products. In addition, AMC is also negotiating with Hollywood studios on the launch of NFT. AMC cinema performance report after US stock market close on November 8, 2021.
 
        According to the financial report, AMC cinema had a net loss of $906 million in the same period last year, which narrowed significantly year-on-year. After the release of this financial report, AMC's share price fell nearly 5% to $42.90, although the company's Q3 revenue increased by more than 500%. Today, the share price of MAC is $42.13, with a market capitalization of $21.65 billion. Since the outbreak of the COVID-19, traditional cinemas around the world have fallen into a cold winter. The withdrawal of many blockbusters led to the depression of cinemas. In order to save the declining business, traditional cinemas such as AMC seek change and increase revenue. AMC focuses on the blockchain industry. 2021 is the year when NFT ushers in an outbreak.
 
        At the beginning of this year, after Musk's tweet promotion and the sky high auction of NFT art "everydays-thefirst5000days" (every day: the first 5000 days) (the auction price was US $69million, about 440million yuan), NFT quickly came out of the circle, causing a wave of upsurge in the world. Adamaron said that they are discussing with Hollywood studios to launch NFT related to films. He said in the financial report meeting: "after all, it is the 21st century. Now it seems that there may be a real AMC opportunity in these fields." However, he also stressed that the negotiations with Hollywood are still in the preliminary stage, and there is no guarantee that this idea will be realized.
 
        AMC has previously revealed that it will accept crypto (bitcoin and Ethereum) as a payment method before the end of the year, and is considering whether to accept other cryptos such as dogecoin as a payment method. Executives said on the conference call that they may have found a way to accept crypto without keeping it on the company's balance sheet. On November 15, 2021, bobchapek, CEO of Walt Disney, said at an event held in Boston that the metauniverse is Disney's future and plans to build its metauniverse by connecting the physical world and the digital world more closely.
 
        Bobchapek said that the reason for turning to virtual reality is that Disney now has virtual reality games and experiences, and can interact with characters virtually. Bobchapek, for example, "if you want to have lunch with Disney Princess, you can do it later.". Bobchapek said, "now it seems that this idea is a little difficult to understand, because the metauniverse has not been created, but I think Disney has this unique ability to obtain the physical expression of people's lives and integrate it with their digital existence, and do it in a unique way, because you have both a paradise and a digital platform, such as disney+ (Disney's streaming media platform) No one else has the ability to do this for the time being.
 
        ”。 Bobchapek said, "what we have done so far is just a prelude to the era when we will be able to connect the physical world and the digital world more closely, allowing unlimited storytelling in our own Disney metauniverse. We look forward to creating unparalleled opportunities for consumers to experience everything Disney offers on our products and platforms, no matter where they are.". Disney has now established a solid leading position in the physical world by relying on parks and resorts and media and entertainment assets in the digital world. With the virtualization of world entertainment and many industries, Disney has gradually paid attention to the evolution of world trends.
 
        Disney also revealed its vision for the future development of the metauniverse. People can access the virtual reality version of Disneyland through metauniverse. Here, people can experience different games, movies and demonstrations through digital avatars. Compared with offline Disneyland, the advantage of this virtual version is that there is no need to limit the number of people. Offline often limits the number of tickets sold every day because of the opening time of the park and the size of the venue, while the virtual version can operate 24 hours a day and theoretically sell unlimited tickets to people. In addition, in a sense, metauniverse is very suitable for Disney. Disney has a very strong IP. Who doesn't want to walk into 3D or avatar driven Disney movies and talk to characters? Bobchapek said, "Disney may become the happiest place in the metauniverse.
 
        ”。 The entertainment industry will benefit from the immersive experience of metauniverse, and entities like Disney are expected to gain more revenue and expand their business diversification. Film has been a traditional industry, and its overall market growth has become saturated. Most of the growth lies in the continuous expansion of China's film market. However, with the COVID-19 raging in 2020, the film industry has ushered in a cold winter. Its market even halved in 2020, and the share prices of many Hollywood related industries fell sharply. Although Disney recently focused on the layout of streaming media business to cope with the rise of Netflix (Netflix). However, Disney is a little weak in streaming media business.
 
        On November 10, Disney announced its fourth quarter earnings. According to the financial report, as of October 2, 2021, Disney Q4 had a total revenue of $18.534 billion, an increase of 26% year-on-year, lower than the market expectation of $18.792 billion. However, to the disappointment of the market, in addition to the less than expected total revenue, the user growth of disney+2.1 million, a streaming media platform that Disney is fully building and is in the period of user growth, is also lower than the market expectation. Disney+, as the mainstay of Disney during the COVID-19, replaced the amusement park and theater businesses. Only two years after its launch, it faced a decline in user growth and a slowdown in growth.
 
        Compared with the 4.38 million net new users of Netflix next door, disney+ is undoubtedly at a disadvantage in the battle for streaming media users this quarter. The impact of the decline in subscription volume of disney+ users was immediately reflected in the stock price. After the release of the financial report, Disney's after hours share price fell 5% that day. Hollywood companies will not wait to die, they are actively seeking transformation. The expected market growth rate of blockchain related industries such as NFT market and metauniverse is very high, which also leads them to hope to eat this big cake. NFT is very suitable to become the carrier of art. NFT can trace its history and effectively prevent counterfeits.
 
        Hollywood has a very strong IP. If these IPS are sold as NFTs, there will be some fan support. Moreover, the cost of making NFT is close to zero, which will also bring high profits to Hollywood companies. Hollywood companies will also bring vitality to the NFT market. Today's NFT market is generally "self created IP", and there are few NFTs with related IP such as spider man. This involves copyright. The production of NFT by Hollywood companies will also attract fans of strong IP to pay attention to the NFT industry, forming a positive cycle. 。 Metauniverse is a virtual scene integrating game + social interaction. Hollywood can authorize IP to become a user's virtual role and earn a commission, which is like buying a hero's skin among kings.
 
        The entry of Hollywood will also inject vitality into the metauniverse or bring new and different experiences. For example, we can enjoy dining with Disney Princess, or experience the feeling of being Superman and enjoying flying in the air.
 
        
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