Cryptocurrency and the blockchain were created for financial transactions that do not rely on intermediaries like banks and the government. As time passed, the use cases of these emerging technologies expanded even further. Today, there are several things you can buy with crypto, such as luxury goods, plane tickets, and e-commerce services. In addition, crypto and the blockchain are slowly ruling over media and entertainment. Let’s take a look at how they’re changing these industries this year:
Preventing the leak of movies and similar media
Leaks have always been a problem in media and entertainment. Movies, songs, and albums revealed before their release date affect the artists’ plans and subsequent revenue. Storing unreleased media in the blockchain solves this issue. Since the blockchain uses ledger technology, owners can authorize only a handful of people to access certain media. This prevents unreleased content from falling into the wrong hands and getting leaked before its intended release. Using this technology will put artists and producers at ease, as they’re assured that their work is safe.
Providing safer gaming transactions
When playing online games like poker for real money, your funds can get into the wrong hands if a security breach occurs. Thankfully, crypto and the blockchain are making transactions more secure. When using cryptocurrency for online poker, you don’t purchase Bitcoin or other cryptocurrencies from a bank. Instead, you can acquire them through a crypto exchange and directly transfer your crypto funds to your online poker account. This way, a lack of connections to your bank account prevents cybercrime. The blockchain is also securing in-game assets in roleplay games. Players can use digital currencies to buy and sell in-game items to other players without jeopardizing their funds. As long as they secure their private keys, their transactions are safe.
Giving more authority to content creators
Content creators make a living by producing and posting content. However, the content they do release—including photos, videos, and other forms of media—is often stolen and reposted on other social media platforms without credit. As a result, those who steal this content can easily earn money from this illegal act, disregarding independent creators’ hard work. To resolve this, blockchain technology is helping creators gain more power over their work by allowing them to track and monetize it. By securing their work through the blockchain, no one else can access and replicate their content.
Presenting more bonuses for gamers
As mentioned above, the blockchain is securing game transactions. Gaming platforms offer many bonuses to entice players into using crypto. For instance, online casino games provide in-game currency, free spins for online slots, and cashback bonuses. This creates a safer gaming environment for players and enhances their gaming experience by trying their hand at more games with the rewards they receive.
Reducing advertising fraud
Last year saw a record $65 billion digital ad fraud loss. It sounds like we’re bluffing because this is such a significant amount, but bot traffic, hidden ads, and invalid traffic are the main contributing factors. These drain advertisers’ pockets, resulting in low ROI and bad user experience. The blockchain aids the advertising industry by allowing agencies and advertisers to track advertising metrics, enabling them to see how their budget is spent. It also provides them with real-time information on where their ads get clicks so they can spot instances of ad fraud more easily.
Expect a lot from crypto and the blockchain’s contributions to media and entertainment this year. Look forward to safer and better gaming, fewer media leaks, improved content protection, and reduced fraud.