The NFT gimmick that could change TV
This feels like a gimmick (and maybe it is) but it has the potential to change the way we interact with film and TV.
LG are bringing NFTs to its smart TVs (gimmicky, right?).
But it's an integration that could bring a whole new wave of decentralized app (dApp) functionality to the world.
'dApps' sound technical and confusing, but they're not as intimidating as they first appear...
Any old app can be considered a 'dApp,' once it uses a smart contract to link it to a blockchain (like Ethereum or Solana) - whether it's an app on your phone, TV, laptop or web browser.
Smart contracts are pretty much rule sets that say: 'If X happens, do Y.' For example:
'If Seb buys this NFT, send him a bonus NFT as a thank you.'
If tomorrow, the Nike Run Club app started giving out NFTs to runners that beat their best times, it could be considered a dApp.
Here's how NFT enabled smart TVs could change how we interact with film and TV:
Netflix could adopt dApp functionality to reward it's most passionate viewers.
E.g. The first 10 people to finish the new series of Stranger Things get a super rare NFT, the following 100 get a rare NFT and the trailing 1000 get a common NFT.
They could then run further fan engagement by giving any super rare NFT holders a free ticket to Comic-Con, where they get to ask the Stranger Things panel one question each.
And/or any Stranger Things NFT holders get to watch the first episode of the new series, one week early.
The value exchange would look like this:
Netflix creates more super fans, attracts new users and sustains its existing subscribers - users get special perks and NFTs that have the potential to appreciate in value.
...and it all starts with NFT enabled devices, like LG TVs.
