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Blockchain Holds the Future of Hollywood, Outgoing WarnerMedia CEO Says

Jason Kilar, the CEO of Warner Media, believes that the future of Hollywood, a name synonymous with the American film industry, lies in the hands of blockchain technology, according to Reuters.

Kilar plans to leave the media company following its acquisition by Discovery, expected to be finalized on April 11.

Based on the penetration of unique digital collectables like non-fungible tokens (NFTs), Kilar believes blockchain will play an instrumental role in transforming the entertainment business.

He added:

“I think that’s going to be a potential wave that’s going to be coming to Hollywood, in the same way that the DVD wave came to Hollywood in the 90s. Obviously, that changed the economic fortunes of a lot of these companies.”

Hollywood will open new finance streams and intertwin storytelling with technology by leveraging blockchain.

Under Kilar’s helm, Warner Media was able to usher in the streaming era and other innovations like hybrid films and HBO Max.

With a career spanning from Silicon Valley to Hollywood, Kilar has advocated the integration of new technologies when it comes to opening new opportunities. He noted:

“Looking around a digital corner, blockchain will have a tangible impact on Hollywood and its possible collaborators.”

Therefore, Kilar trusts that blockchain technology will change the face of Hollywood in the post-pandemic era.

Meanwhile, the global blockchain technology market is anticipated to reach $19.9 billion by 2026 from the current $3.4 billion value, according to a recent report by market research publisher Global Industry Analysts Inc.

The study noted that growth in this market would be propelled by next-generation innovations like blockchain-powered identity management systems in the post-pandemic era.

Bored Ape Yacht Club Enters the Movie Scene, Pairing with Coinbase

Seen as the face of the non-fungible token (NFT) market, the Bored Ape Yacht Club (BAYC) has entered the silver screen based on a series of animated short films called “The Degen Trilogy.”

Bored Apes will serve as characters in the film to be hosted by the new media arm at Coinbase. The crypto exchange is expanding its scope by testing the field of film production.

The first three episodes of the series will be aired at an NFT industry event called NFT.NYC is slated for June.

For consideration in the series, Bored Ape owners have been asked to submit their apes together with character descriptions to be scrutinized by a Hollywood casting director.

William Swann, the marketing director at Coinbase, noted:

“You can think of this as a love letter to the NFT tech that has provided so much creative liberation for artists. We really look at (Bored Apes) as sort of our North Star in the NFT space. They’ve created such a massive and engaging community.”

Upon release, the Coinbase website will serve as the gateway to accessing the films because viewers will be required to create a Coinbase wallet.

The series will also tie in with the launch of Coinbase’s NFT marketplace, according to Swann.

He added that the Bored Apes would not be the only NFTs aired on the big screen because Mutant Apes by Yuga Labs, the blockchain startup behind the Bored Ape Yacht Club, would get similar treatment.

Nicole Muniz, Yuga Labs CEO, stated:

“We’re seeing how NFTs are evolving to be vehicles of access and participation in networks, games, merchandise and now interactive entertainment. This is a breakthrough project and we’re excited to see how this shapes the future of Web 3 for all communities.”

Meanwhile, Yuga Labs raised funds worth $450 million in March. As a result, the funds effectively placed the blockchain startup at a $4 billion valuation. The team aimed to inject the funds into building a media empire that would predominantly feature NFTs.

This fundraising came days after Yuga Labs unveiled a metaverse project dubbed the “Otherside”. The teaser featured an animated Bored Ape NFT smoking Tobacco in what appeared to be a metaverse-themed world.

The Bored Ape made connections with other Yuga Labs-backed NFT collections housed in what looked like a spaceship.

The Use of Blockchain in the Film Industry

Web 3.0 technologies are making further inroads into a variety of traditional businesses, hence introducing innovation to previously established protocols.

This encompasses creative industries that have a long history, such as the music business, as well as more contemporary creative sectors, such as the film industry.

The new film Fuzzy Head will have its world debut this year at the Slamdance Film Festival, which is an Oscar-accredited film festival for independent filmmakers. The production of the film was made possible by the blockchain-powered crowdfunding site Untold.io. “The most crucial part of crypto and blockchain integrations in the film business will be increasing fan interaction through NFTs and opening up a new asset class to all different sorts of investors via compliant security tokens,”

Dapper Labs and Untold have formed a partnership in order to advance Untold’s technology and provide its programmes with more accessibility.

Other noteworthy movies, such as “The Comeback Trail,” which stars Robert De Niro and Morgan Freeman, have also received financial backing via this platform. It is not the first time that a film festival has seen the use of cryptocurrency and blockchain technology in films that are making their world premieres.

In 2019, representatives from the Filmio blockchain platform went to the venerable Sundance Film Festival in order to explore potential ideas for the blockchain-based entertainment platform that they are developing.

During Sundance Film Festival of the previous year, Liquid Media Group made an announcement about their first blockchain film streaming with a slate of digital panel discussions.

Additionally, the business discussed the effect that nonfungible tokens (NFTs) have had on filmmakers and the communities in which they work.

The movie “Prizefighter,” which was directed by Russel Crowe and released in 2022, used non-traditional forms of financing (NFTs) in order to partially support its production. The director described the movie as being “audience-driven.”

According to Aksu, the use of blockchain-based technologies by heritage directors and large festivals adds awareness to these tools for small filmmakers, who stand to gain tremendously from using them. These are also wonderful possibilities to build a genuine community that supports ground-breaking initiatives like blockchain.

The previous year, film director Anthony Hopkins was successful in selling all of the items in an NFT collection that was based on characters from movies that he had previously produced.

In addition, Quentin Tarantino developed novel film techniques (NFTs) based on his groundbreaking film Pulp Fiction.

Later on, he became embroiled in a big legal dispute with the film production business, which centred on allegations of copyright infringement.

Hollywood Agencies Join Forces with AI Firm Loti to Tackle Deepfake Threats

In an era where technology and entertainment intersect more than ever, the rise of deepfakes has become a growing concern within the Hollywood community. Deepfakes, which are sophisticated digital manipulations of audio and video, have the potential to tarnish reputations, spread misinformation, and infringe upon intellectual property rights. Addressing this issue, prominent Hollywood talent agencies are now partnering with Seattle-based AI firm Loti to develop advanced solutions that protect the interests and images of celebrities.

The Deepfake Phenomenon: A New Frontier in Digital Deception

Deepfakes leverage powerful AI algorithms to create hyper-realistic but entirely fabricated images and videos, often portraying individuals saying or doing things they never actually did. This has significant implications for public figures, whose personas and careers can be severely impacted by such false representations.

Strategic Partnership for Brand and IP Security

The strategic alliance between the talent agencies and Loti represents a proactive approach to combating the negative consequences of deepfakes. Loti’s AI-powered technology aims to detect and flag fraudulent content with high accuracy, thereby enabling swift action to be taken to remove or counteract the spread of such content.

This collaboration is not just about reactive measures; it’s also focused on prevention. By equipping celebrities and their representatives with the tools to identify deepfakes, they can better manage their brands and maintain control over their digital personas. This is crucial not only for the preservation of their reputations but also for the protection of their intellectual property, which can be exploited through unauthorized or deceptive use of their likeness.

Implications for the Entertainment Industry and Beyond

The entertainment industry is particularly vulnerable to the threats posed by deepfakes due to the high value placed on celebrity images and the widespread consumption of multimedia content. However, the implications of this partnership extend beyond Hollywood. As deepfakes become more convincing and widespread, the potential for job displacement and the erosion of public trust increases.

Combating Deepfakes with Cutting-Edge AI

The collaboration between Hollywood talent agencies and Loti is a pioneering step towards a future where celebrities and public figures are shielded against the unauthorized use of their image. As AI technology continues to evolve, so too will the methods for detection and prevention of deepfakes. The commitment of these agencies and Loti to invest in and develop anti-deepfake measures could set a precedent for other industries to follow.

In conclusion, the partnership between Hollywood talent agencies and the AI-powered firm Loti is a significant move in the fight against deepfakes. By leveraging cutting-edge technology to detect and counteract falsified digital content, they aim to secure the integrity of celebrities’ brands and businesses, while mitigating the broader risks associated with this emergent form of digital deceit. As this initiative progresses, it is expected to influence the development of legal, ethical, and technological frameworks for managing digital identity and authenticity in the entertainment industry and beyond.