TV Streaming Services
TV streaming services should use NFTs.
One more positive effect of NFT technology is the increased social value of streaming services. Like all consumer cultures, we consume in the digital world. NFTs can significantly strengthen the connection between the individual and the thing consumed.
There exists a solution for streaming "churn."
Who would have anticipated that digital communities focused on JPEG families would become billion-dollar companies a decade ago? NFTs have evolved into ID cards, VIP passes, verification of ownership, and digital art – all in one convenient product that anybody can use, including Bored Apes to Parties Degenerates. So why not also provide a streaming service?
An NFT might be designed around your passion for the natural world if your viewing habits are influenced mainly by the works of David Attenborough. Others like you will buy this specialized membership, which might cross-streaming platforms and split the money amongst distributors, IP holders, and content creators. We would have the makings of a community with this accumulated ultra-niche membership, with a typical relationship. This community has the potential to bring in significant revenue for outside parties and offer a wide range of partnership and participation opportunities. This might include early access to new David Attenborough shows, Livestream Q&A’s with leading zoologists, and steep discounts on admission to museums and safaris.
A niche membership product that becomes part of consumers’ identities will increase the streaming service’s perceived value. Subscriptions can be turned into memberships, solving many of the streaming industry’s turnover problems. Platforms can build robust, devoted communities for all content creators.
Maintaining a Lead in the Market
You might think, “We can do all of this today,” and if you do, you won’t be completely wrong. Creating interactive membership services for specific material categories is viable for Netflix, for example. However, unlike Web3, streaming providers’ major credit card, fill-out forms, and email strategies need to be better.
By using NFTs, subscribers can enjoy gated content as it keeps their interest and then moves their keys to a new user without experiencing any loss. Additionally, content providers will profit from a direct user-to-user relationship with highly engaged audiences. Finally, creators can package content for specific NFTs or incentivize specific behavior instead of the “all you can eat” or nothing approach of regular subscriptions. For example, you can get a bonus if you watch all the episodes quickly, or if you give feedback on a season, you can get behind-the-scenes content.
As consumers, we observe that transactional video-on-demand and à la carte purchases are becoming obsolete. Therefore, it would be prudent for services that wish to keep ahead of the curve to consider the Web3 possibilities.