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TV streaming providers should start relying on NFTs

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Subscription-based services are so popular that it’s hard to remember a time when they weren’t the norm. Streaming companies have sought to capitalize on this norm by robbing consumers of all their value. Look at Netflix’s decision to start running ads.

Another benefit of leveraging NFT technology is the ability to create communities using streaming services. As with all consumer cultures in the digital world, we are consuming. But NFTs have the potential to deepen the relationship between consumers and what they consume.

Streaming ‘churn’ has a solution

Ten years ago, who would have thought that the digital community based on the family of JPEGs would become a billion-dollar company? All in one product. Why not even a streaming service?

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If your viewing habits are dominated by the likes of David Attenborough, you can build your NFT around your love of the natural world. Others like you also buy memberships in this niche . This allows cross-streaming platforms with money split proportionally between distributors, IP owners, and content creators. This complex ultra-niche membership gives you a foundation for your community. Built together by common interests. For third parties, this community will be a valuable revenue stream and offer endless possibilities for partnerships and engagements. This may include discounted museum and safari tickets, livestream Q&As with leading zoologists, exclusive premieres of the new David He Attenborough programming, and more.

Membership products that appeal to niche interests naturally increase users’ perceptions of the value of streaming services as they become part of their identity. The solution to many churn wars in the streaming sector is to turn subscriptions into ‘memberships’. In doing so, the platform can create a strong and dedicated community for content creators of all kinds.

one step ahead

“We can do all this today,” you might say, but you’re not entirely wrong. The possibility of creating a is entirely possible. The massive credit card, fill-in form, and email approach standardized by regular streaming services looks lackluster compared to Web3’s potential.

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Using NFTs for subscription products allows users to access gated content for as long as they are interested and sell the keys to someone else without losing them when they no longer need them. The content creator also benefits from her direct one-on-one relationship with a truly engaged audience. Instead of a subscription “all you can eat” or eat nothing approach, creators can package content for specific her NFTs or incentivize specific behaviors. Perhaps watching all episodes in a shorter time slot will give you access to bonuses, or providing season feedback may provide behind-the-scenes content.

As a consumer, transactional video on demand and A la carte Obsolete purchase. For services that want to stay ahead of the curve, it’s wise to start exploring the possibilities Web3 offers.

Andrea Berry Head of development at Theta Labs.

This article is for general information purposes and is not intended, and should not be construed as legal or investment advice. The views, thoughts and opinions expressed herein are those of the author and do not necessarily reflect or represent the views or opinions of Cointelegraph.

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