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Opinion

Will NFTs Replace Streaming?

People sitting in a movie theater
Photo by Luis Quintero on Pexels.

The way we consume movies has changed rapidly in the past twenty years. Blockbuster, Redbox, and Netflix have all represented the evolution of how the average family gets their movies. But, are NFTs going to replace streaming?

One of the major drawbacks that many have with Netflix, or any streaming service, is that it takes away the ability to own a film.

According to Forbes, “Streaming effectively put an end to special edition DVD products as one-size-fits-all subscription models were introduced. NFTs offer the opportunity to reintroduce collectible movies and TV shows. The NFT hype of early 2021 begins to recede, many sectors are examining opportunities to capture some of the value that’s been poured into digital art NFTs.”

NFTs could bring back the magic of owning a piece of film with unique characteristics. Such as collectibles and movie-themed digital art.

But why make the switch?

NFTs can be anything. But, why would people want to give up streaming for NFTs? Well, people are already leaving Netflix in droves. This is because Netflix has threatened to stop password sharing and introduce ads to the platform.

Purchasing a film as an NFT through the blockchain bypasses the ability of a platform to control your experience. And, your experience will be unique. You won’t be streaming the exact same copy of a movie as everyone else. Many movie NFTs could be marketed as limited editions or include extra add-ons, like digital art, as previously stated.

The world of NFTs has a long way to go before the majority of people would consider getting their movies through the blockchain. But as streaming services are taking a hit, the world of NFTs could be what movie consumers turn to next. Will NFTs replace streaming? Well, not only would people be able to able to enjoy the same movies. But the experience with each film could be unique and exciting, making the world of NFTs all the more alluring for the purchase of films.

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