NFTs Are the Ultimate Disruptor of Hollywood's Entertainment Status Quo – Yahoo Finance

Join the most important conversation in crypto and web3! Secure your seat todayThis year’s Oscar award winner for “best short film” was “Irish Goodbye” by First Flights, a “Film3” company that produces films via crowdfunding models. While the production of “Irish Goodbye” preceded First Flights’ recent implementation of non-fungible tokens (NFT), the company has fully committed to embracing Web3, as demonstrated by its recent successful raise for its next short film.Whether we like it or not, NFTs have become well-known beyond our industry bubble and are recognized by a much larger audience than we might think. However, it’s important to note that Hollywood has only begun to explore the potential of blockchain technology and Web3, indicating that there may be much more to come for the industryAndrea Berry is the head of business development at Theta Labs.NFTs create an unmatched 1:1 relationship between the buyer and the issuer, helping build a community without dependence on multiple vendors. Over the last few years, businesses have been learning the power of their community but have struggled to quantify its ROI.The data never liesIt’s often said that “the data never lies,” and when it comes to success in the entertainment industry that statement
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