Movie distribution using NFTs – Darkblock and MoviePlex
With Web3 (and NFTs), it’s all about content ownership. So what happened when it comes to movies in the Web3 generation? MoviePlex are on a mission to change the norm, by giving movie makers a new and improved way to get their content out to the world in this next technological era we are entering. And they are working close with Darkblock to achieve this.
In this recent video Joey Janisheck from Darkblock, he sits down to talk to Movieplex founder Frank Ramos about how to change movie distribution using NFTs (and unlockable content via Darkblock), as well as talk about Digital Rights Management (DRM) in the NFT age.
The killer feature for Web3 is content, and that’s what we are trying to do at Movieplex, with the help of Darkblock, said Frank Ramos.
What is MoviePlex?
The inevitable march towards NFTs in the movie industry has already begun. But without the right tools and platforms, it is difficult for creators who want to get their art out there to manage it all. They need a better distribution and monetisation infrastructure, created for the Web3 world. This is what MoviePlex is about.
MoviePlex is an NFT video content marketplace that wants to help independent indy creators – that might not be able to get a deal with a bigger studio – succeed.
(It is worth mentioning that MoviePlex is still being built for the most part, and even though you can currently visit the website, it is not 100% complete).
There are a lot of issues with the current web2 platforms we have, and as Frank mentions in the video, they aim to solve them.
Each Web2 service has their own set of rules of what is allowed, and what isn’t. And restrictions vary from region to region. So for example, a creators content might not be allowed onto the service due to a scene of violence, or nudity. Even though MoviePlex is still in the making (the website is not complete yet) it is a decentralised platform. And decentralised, means that no one person decides on the rules. Other benefits of using MoviePlex (over Web2 platforms) include:
- Blockchain tech means that creators can get paid instantly from their content sales, without waiting for a company to manage their finances and pay out the creator fees.
- Avoiding the fees extracted from using middle men (in this case, centralised services).
- Higher monetisation ratios (YouTube for example gives you pennies on the numbers you achieve).
- Some platforms estimate creator’s potential sales and pay them upfront. Sometimes the amount is greatly undervalued. Frank gives the example of the recently successful show “Squid Game”.
- Buy the thing you like and not have to depend on a streaming service to hold it for you.
- Buy it once, own forever (unlike buying a DVD multiple times if it keeps getting scratched).
- No VPN needed to view content locked to a different region than yours (because creators could get fans in unexpected places).
Long story short, things are missing from the other platforms, and MoviePlex wants to fill the gap.
We are figuring out the hard stuff, that still hasn’t been figured out yet. You don’t want to be late to this party, because it’s going to go pretty quick, said Ramos.
DRM in the NFT Age
An NFT can prove you are the owner of content, so DRM will work in a seemingly better way in the Web3 world that it does in the legacy Web2 one. Darkblock’s protocol does this job very well, using encrypted content that can be accessed only by the owner of an NFT (the NFT is the key).
Behind the NFT wall you can have all relevant content like for example with a music album, you would have the audio, the booklet, the cover art, etc. all in one place for the owner’s eyes (and ears) only.
Check out even more on how Darkblock works in our article here.