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| Hollywood suddenly became interested in cryptocurrency and blockchain |
"No Time To Die" has been postponed three times since filming ended in 2020. This is because the coronavirus pandemic has made it difficult to watch movies in theaters, and this movie is also one of the most important because it's the 25th James Bond movie and Daniel's last movie. Craig played this role. This movie seems to usher in a new era based on cryptocurrency, blockchain, and NFT.
In fact, film production has begun to rely on these technologies, from financing through cryptocurrency to protecting literary rights. No Time To Die is a good start for Hollywood to embrace these technologies.
This movie is produced by MGM. It's a big movie production company that Amazon acquired in May last year for $8.45 billion.
MGM has begun working with leading technology companies to attract more audiences and leverage their assets. The company announced its partnership with Eluvio in early 2021. Through this collaboration, MGM is using the blockchain to distribute some of its work.
The company is also collaborating with VeVe. To publish some of its technical features about NFT technology for others to buy and own. Some of these articles refer to "there is no time to die."
Cryptocurrency and Blockchain in the Film Industry
Blockchain technology plays a huge role in the future of the film industry. In fact, the industry faces many threats. Perhaps the most prominent of them is piracy and content theft. But by using the blockchain, these companies can license and manage the rights to use their business more professionally.
The film industry, especially Hollywood, can make more profits by relying on these technologies. This is because it takes full advantage of the blockchain, cryptocurrency, and NFT, including decentralization, transparency, transaction tracking, and low payment fees.
These technologies play an important role in content delivery platforms because relying on them can make content theft very difficult and enable production companies to generate expected profits by putting their businesses online.
Blockchain technology can solve the piracy problem by enabling the function of sending encrypted content. In addition, cryptocurrency can help improve overall investments in films and films.
Therefore, with a current value of only $466 million, it is expected that the investment in the movie market, especially in Hollywood, will reach $1.5 billion in cryptocurrency by 2027.