The last two decades of technological advances have radically transformed the entertainment landscape. Web2 platforms, from Youtube to Spotify to TikTok, have given individuals the tools for creating and distributing their own content. But the media ecosystem remains linked to the established institutions of yesteryear, and the platforms still pose barriers for creators seeking to both monetize their work and remain independent. Web3 technology could change that. A group of experts joined Roundtable to discuss how the blockchain makes a more horizontal media ecosystem possible. In this segment, the panelists discuss the advances making such media ecosystem possible.
Justin Rezvani explains that the blockchain allows individual creators to monetize their work more seamlessly than ever before.
“What we're attempting to build is this concept of peer-to-peer economics,” he explains, referring to the possibilities that the lightning network provides. “Before, if you wanted to do a credit card transaction, that would cost 25 cents per transaction. Now we have the ability to monetize in for micro pieces of content.”
Marc LoPresti notes that advances in consumer tech also makes it easier to achieve high-quality production values on a low budget.
“We have the content creators leaning into that independence [and] using the instrumentalities of modern production,” he says. “I don't need a four camera studio and a sound guy with a boom mic and make-up and hair.”
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Watch the full discussion below:
Taylor Ferber, Host, Cancel Me! Podcast
Justin Rezvani, CEO, Zion
Marc X. LoPresti, Co-Founder, Battlefin Group