TMCnet Feature
May 07, 2020

Blockchain Advantages That Fight To Fame Is Leveraging For Uplifting The Entertainment Industry

Just like the internet gave a new height to the entertainment industry 20 years ago, Blockchain is also believed to have the potential to revolutionize the modern entertainment sector.

Blockchain technology encrypts the data in an open, unsecured, and decentralized ledger environment. This allows the transactions to have a more direct path between users who are not tied to the banking or credit system.

One of the most famous types of Blockchain technology is bitcoin. It uses cryptocurrency to initiate financial transactions. It also offers some smart contracts that expand the scope of Blockchain beyond a monetary transaction.

Eminent Blockchain startups like Fight to Fame can indeed benefit media and television in a multitude of ways; starting from advertising and distribution to content creation, and verification.  

Now, the question is what Blockchain advantages do Fight To Fame leverage? Well, let us find out here below.

Blockchain and media

The greater scope of Blockchain has lured many advertisers of the media industry. Bigger companies are collaborating with this technology for better output. The entertainment industry believes that incorporating the technology would help them to reach their audience in a much better and efficient way. Let us now see how the Blockchain technology can help in uplifting the entertainment industry:

Fighting off piracy

Talking from the distribution side, experts believe that the incorporation of Blockchain in the industry will put an end to the middlemen. The credibility of this concept is still a question but companies are looking for a protocol that will help them to battle against piracy which accompanies digital distribution.

The technology will help them to gain more secure rights payments. For example, it will radically simplify the way music right owners are identified and compensated. This, in turn, will help the artisans and entertainment companies to have a sustainable business model.

Blockchain can also be efficient in fighting from “fake news”. The method of Blockchain encryption can be used to hold the person accountable who have, with the help of artificial intelligence, has created realistic videos of fake things. This is beneficial not only for the entertainment industry as a whole but it will also provide assistance in monitoring corruption, fighting frauds, auditing supply chains, and even enforce some anti-corruption methods.

Ensuring transparency

When it comes to the media and entertainment industry, fans play an undeniable role, feels the Fight To Fame team. They aim to impose transparency in their games that involve public voting. They have employed Blockchain intending to demolish doubts about polling being an eyewash. The business model that Fight To Fame has adopted, helps them in eliminating fraudulence by the use of cryptographic tokens and smart contracts. As a result, they have successfully restored the faith that their fans have had so long, and continue to provide unhindered entertainment.

Blockchain technology has gone much beyond just the monetary transactions today. It has got the potential to help the industry to grow exponentially, and very soon it will be used throughout the chain for its all-round betterment.

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