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How to save big-budget theatrical experience and drive people to the theater, a business model

  • Writer: Hugh Lolz
    Hugh Lolz
  • Jan 25, 2023
  • 2 min read

How to save big budget theatrical experience and drive people to the theater, a business model proposal based on NFT, Peripheral IP products: the new economy is based on exclusivity and tangibility.

The selling point of theatrical experience is gone with the rise of youtube, Netflix, and TikTok. They provide accessible, instant, affordable dopamine rash with short, flexible (Netflix), and snappy content that fulfills today's busy people's entertainment needs. Why go to the theater, pay $13 and sit our ass through 2 hours of content? Only 2 theatrically released films in 2022 made money: Avatar and the Whale. BIG BUDGET films over 50m can hardly make their money back. The film industry and studios face a similar fate to the music industry. But I say there is a way to drive people to the theater enthusiastically and eagerly: create limited accessible Peripheral products that can only be purchased with a movie ticket. In this case, use NFT technology for the movie tickets. After the theatrical experience, people can claim their physical prize, trophy, or medal: a physical limited edition product. Movie tickets become tradeable NFT. The psychology here is simple: After running a marathon, the medal becomes a meaningful memory holder. Also, scarcity and exclusivity shift people's perspectives on purchasing theater tickets. Each movie ticket is an NFT code that can record the information about the film and release options for viewers to purchase the avatar doll (limited to one ticket per doll)after watching the film. The studio can release new products and inform NFT token holders in the future, and a movie ticket becomes a royalty program account. Just imagine the profit of Avatar when it releases Theater NFT purchases only products and has all profits instead of releasing product rights to third parties.

 
 
 

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