Decentralized Distribution:
Web 3 enables decentralized distribution of entertainment content, making it easier for creators to distribute their work directly to consumers. With innovations in ERC-721 smart contract automations, you can easily upload content without knowing a whole lot about the technicals.
Lower Costs:
Tokenization can potentially lower costs associated with the production and distribution of entertainment content, making it more accessible to a wider audience.
Direct-to-Fan Relationships:
Web 3 allows for direct-to-fan relationships, enabling creators to interact with their fans directly, potentially increasing engagement and loyalty.
Tokenized Royalties:
Tokenization allows for the tokenization of royalties, making it easier for creators to receive fair compensation for their work and ensuring that they are paid in a timely manner. This also makes sure that fraudsters don’t get paid for music that belongs to you.
Immutable Records:
Blockchain technology can provide immutable records of ownership and usage rights, ensuring that creators are properly credited and compensated for their work.
Enhanced Security:
Web 3’s cryptographic security features can provide enhanced security for intellectual property, preventing piracy and unauthorized usage.
Decentralized Identity Verification:
Web 3’s decentralized identity verification systems can provide an alternative to traditional identification methods, potentially reducing fraud and improving security. Basically, you have a verifiable way to know whose content really belongs to who.
Programmability:
Tokenization allows for the creation of programmable smart contracts, enabling creators to set conditions for the usage and distribution of their work. An example of this is Check by VisualizeValue and Jack Butcher.
Lower Barrier to Entry:
Tokenization can potentially lower the barrier to entry for new creators by providing access to funding and investment opportunities.
Greater Control:
Tokenization can give creators greater control over their work, allowing them to retain ownership and maintain creative control throughout the distribution process. Many creators have zero control over their content, case in point being Taylor Swift. With web 3 the only mistake you can make is not throughly auditing a smart contract.