The Entertainment Challenges Solved With the Help of Blockchain Technology
The entertainment industry is one of the most dynamic industries in the world, with new content being created and watched every day. Even before the pandemic, the demand for original digital content was already surging, which was fueled by the sudden lockdown that forced people to stay at home.
While being confined to the boundaries of their homes, people all over the world have turned to digital platforms. However, now people are more invested and want quality content at affordable prices. That has led to a sudden decrease in several traditional streaming channels. While people manage their needs in one way or another, the entertainment industry realized the importance of a much-required change.
Blockchain technology has been making strides in several entertainment verticals, such as the art industry, the gaming industry, and the video content generation industry. Blockchain is widely appreciated for its ability to offer affordable access to premium services, and Xfinite uses this ability to transform the digital media sector.
Is Xfinite the solution to all entertainment challenges?
The current entertainment industry is riddled with several inefficiencies, making the entertainment experience unrewarding for both the creators and viewers. It is no secret that the digital media sector suffers from cost barriers that encourage people to participate in piracy and illegal file-sharing.
Pirated content starts a cycle of market fragmentation that cuts down on the profits of creators and producers, forcing them to increase the price of tickets. Sadly, there is no obvious solution to this problem using the tools at hand. However, the blockchain is capable of resolving these issues and creating a more rewarding experience for everyone.
Xfinite has developed a decentralized application called Mzaalo that offers a gamified video-on-demand experience targeted at the Indian streaming market. The company aims to create a blockchain-powered platform that provides premium, exclusive content to users and redefines the relationship between content producers, brands, and viewers.
Mzaalo is secured using Xfinite’s Blockchain platform to offer several services such as premium content (movies, series, live TV), user rewards, and several interactive features. Xfinite provides a rewarding experience for users, brands, celebrities, influencers, and content providers alike.
Users get free access to premium content using the Mzaalo app, a platform to socialize and reward their attention and engagement. Brands and celebrities can boost their engagement, receive accurate data, and market and sell their products. At the same time, the content providers will benefit from the large community, high engagement, analytical data, and much more.
Xfinite has already partnered with several content creators and providers for its on-demand and live TV networks, such as Eros Now, Hare Krsna, DSTV, NewsX, and others. Using these partnerships, the company has developed a vast library of over 50,000 hours of content across different genres, available in different languages.
Xfinite is not only helping to solve the problems of piracy and costly services, but is also offering a way to earn rewards simply by engaging with the content. By watching movies and free digital entertainment, users can earn coins that will give them access to premium content, partner products, merchandise, digital goods, and games.
Blockchain is a powerful tool that helps re-establish trust between consumers, content creators, and publishers in the entertainment sector. Xfinite is the leading platform headlining this revolution.
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