Power to Creators - The Decentralization of Art!
Services like Youtube, Steam, stock image marketplaces and other content-specific platforms have provided smaller artists to showcase their creativity and monetize their work.
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We all crave some great entertainment brought to us by Filmmakers, Game Developers, Comedians, and so many more. The last decade has seen some tremendous leaps in these industries with technologies easing out the accessibility, content creation, and most importantly, support for the artists. Still, there are ways to go when it comes to it due to the centralized nature of these industries as a whole.
The major problems decentralization can solve are accessibility and capital support. It is centralized through major players like production houses, development studios, and recently, streaming services. The Internet, as a medium, has provided platforms for smaller artists and studios in terms of monetization and access to the audience. It has also rooted practices like piracy, intellectual property theft, lack of moderation, and so on.
Is Decentralization a Solution for Content Creators?
The short answer is, Yes it is. Services like Youtube, Steam, stock image marketplaces and other content-specific platforms have provided smaller artists to showcase their creativity and monetize their work. Some have even gained international acclaim for their works and won awards on those without the backing or mediation of centralized authorities and syndicates (if you would like to call it out).
Crowd-funding platforms have also extended the much-needed capital support our artists and other creators need to produce some amazing content for us. Similarly, free-to-use and open-source software support is another addition to the constantly evolving entertainment markets.
This is where the decentralization of the entertainment industry shows its greatest strength. Giving power to the creators and tools to chisel out artistic achievements is the heart and core of any decentralization tactic for the entertainment industry.
How can Blockchain Technology help Content Creators?
Art is something that we can never put a value on. It has its effects not just on individuals but over society as a whole as well. Nonetheless, artworks are capable of holding immense value. They are often used as investment opportunities by individuals and organizations alike.
This is where blockchain technology comes in. If you have heard about recent auctions of creations, you already know that works that may not even qualify as artworks can fetch a pretty penny for the creators. And for the artists, this is simply the beginning of an era.
This form of investment is carried out on the blockchain networks as Non Fungible Tokens or NFTs. For those who don't know, these are a form of tokens you can generate through various blockchain-based decentralized services and put up for sale or auction. They are connected to artworks or any work in general, and that is where they derive their value.
While blockchain technology is driven by several major networks like Bitcoin and Ethereum, these networks in themselves are not controlled by any single entity or organization. Also, NFTs can hold value and are tradeable/serviceable on the blockchain network through that value. They are also capable of competing as well as integrating with them seamlessly.
The beauty of the system is that it is unbound and unregulated by any authority including governments. The network is online and usable 24x7 and there are no mediators that can create biases towards the value of your work, if that remains undefined like in an auction. And the network has a strong base to prevent piracy and counterfeiting too. And it is ever-evolving, which means there will always be better ways to monetize your work, be it targeting, incentivizing, or simply showcasing it in its full glory.
However, the biggest advantage of blockchain networks is that they are not closed off to any buyer. Everyone interested in buying can participate in the process. This extends the horizon of your reach tremendously, which is not the case with any other system we have to date.
Oh, and there are processes like ICOs and STOs for you to generate funds for various commercial projects. They can help your project and your investors (on the blockchain) make money once they are up and earning. Plus other Decentralized Financial (DeFi) services on blockchain networks can help you in similar ways to attract investors and supporters alike.
And it all boils down to?
Decentralization was a much-needed system for the entertainment industry. While a lot of technologies and platforms supported the creators and audience, they could not solve many problems that kept coming up.
Dev Sharma, the founder of the global crypto marketing agency, Blockwiz, commented, “Centralization of the entertainment industry isn't a bad thing for the artists and audience, as a matter of fact, there is a lot of contribution from that system too. However, the decentralization of the entertainment industry can also benefit immensely with blockchain technology in play. Decentralized finance and its utility can enhance the production and protection of artistic works throughout the world with equality of opportunity. The more gaps we bridge, the more we connect our social structures to better opportunities. And this equality is the justice we need to work towards in order to create a better and happier world! And needless to say, more entertaining and engaging for us, the audience.”
As for the artists, they will still have to find creative ways to market their works, compete in an ever-growing market, and make their mark in the history of human ingenuity. And the future will be the testimonial of that.
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