Among the many things that will be upended by the rise of Web3 is the studio film system. As communities begin to claim literal, if fractional, ownership of franchises, they will assert a role in determining its development. Community involvement with the innovative marketing of Bored Ape Yacht Club suggests the forms this might take—and why the major studios are likely to resist change. To discuss the mismatch between the legacy entertainment industry and new technologies reshaping storytelling and fandom, Roundtable's Rob Nelson convened a panel of experts including Jordan Fried, Founder of NFT.com, Taylor Ferber, host of "Cancel Me, Baby!" podcast, and Tommy Petrov, CMO of Free2Shred.com. In this segment, the panel uses the Marvel franchise as an example of this clash of cultures.
NFT.com's Jordan Fried cites Harry Potter fan-fiction communities signs of things to come.
"Some of the best fan-fiction we've seen comes from the communities around Harry Potter, it wasn't written by JK Rowling," he says. "In the future, comics and stories are going to be told by the users, they're gonna be told by the fans. NFTs are a technology that will directly enable someone to not just own a Spider-Man character in a comic, or character in a film, but will give them an opportunity to help engage and interact."
He continues, "It democratizes access to who can tell the story. Currently, the only way to be a storyteller is to have a career in script writing and maybe get lucky enough that your script gets purchased. That's not gonna be the case in the future. Anyone will be able to write that script, sell interest in that script, or even own a character, some piece of intellectual property."
Tommy Petrov, of Free2Shred.com, observes that this empowerment will be aided by falling production costs that allow fans to shoot and produce their own film and video.
"The HBO show 'High Maintenance' was originally shot with small production and posted on YouTube. We're [seeing] people shooting on iPhones—and it's working, the community model," he says.
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"It just needs support and platforms from our side."
Watch the full discussion below:
Jordan Fried, Founder, NFT.com
Taylor Ferber, Host, Cancel Me, Baby! Podcast
Tommy Petrov, CMO, Free2Shred.com