Bridging The Gap Between Filmmakers and Movie Fans by Adopting a Unique NFT Marketplace

As harsh censorship, a worsening economic climate, and an increasing competition takes a toll on digital streaming platforms with every passing day, blockchain-based entertainment is the need of the hour. With blockchain, media companies are able to reduce expenses and chances of fraud, while empowering creators and boosting transparency, content distribution, and user engagement.  

Xfinite is a platform that aims to revolutionize entertainment and the way we consume media or engage with creators with the implementation of blockchain technology and NFTs (non-fungible tokens). Our mission is to create an ecosystem for users and creators alike where consumers get to turn their time into rewards, brands can advertise with trust, and creators break boundaries.

In this post we want to explore how NFTs can help bridge the gap between creators and their fans so that their interaction goes beyond social media and screens.

How Can Blockchain Help The Entertainment Industry?

There are several exclusive benefits blockchain brings to the entertainment industry, namely:

  • Blockchain renders intermediaries and any third parties needless; this way, distribution costs are reduced and creators can reach their audience base directly, without any extra costs. 
  • Blockchains keep transparent records in real-time of how fans interact with various content.
  • Payments made on the chain are automated, transparent, and seamless.
  • Blockchains enforce authentic engagement by rooting out any ‘botted’ views or fake news since all blockchain nodes must agree on the validity of a record before it can be added to the chain.   

How Is Xfinite Bridging The Gap Between Creators and Fans Through Its Blockchain-powered Ecosystem?

‍We aim to create a platform where creators can access the existing intellectual property (IP) and use them as the foundation for building newer projects. We intend to make our marketplaces so that any user- regardless of their financial background- can support their favorite entertainment projects in a regulated, secure environment. 

Among the products we offer are our dApp, Mzaalo, and the Mzaalo NFT Marketplace. Mzaalo is a decentralized streaming application that works to democratize access to premium content; we describe it as a ‘gamified video-on-demand platform’. On the dApp, you can access content spanning: more than 12,000 movies, web shows, and live TV. 

Mzaalo users are incentivized with in-app Mzaalo tokens to watch ads, and for other activities that they may choose to perform. What’s more, users can redeem the Mzaalo coins they earn against the over 600 reward partners in the Xfinite ecosystem. 

As for the Mzaalo NFT marketplace, we aim to make it the biggest NFT marketplace in India that will bring over 12,000 movies, shows, and exclusive music content to consumers, as well as function as an NFT launchpad for future artists. 

The Mzaalo NFT Marketplace

The Mzaalo NFT marketplace is the first Bollywood NFT marketplace in India. Currently, users can collect their favorite moments throughout 12,000+ stories at the Mzaalo NFT Marketplace. 

What Are Some Features of The Mzaalo NFT Marketplace?

  • We attempt to create a monetizable secondary market for content with the help of NFTs that would benefit both content creators and consumers.
  • The Mzaalo NFT marketplace is slated to be a level playing field for creators where they can build and showcase their work without being restricted by funding issues or compromising on their particular vision.
  • Eventually creators can sell their NFTs directly to fans through the open platform. 

With our unique NFT market model, we hope to erase the gap between the fans passively consuming the content of their liking and committed investors backing the creation of said content. This would allow fans to form personal relationships with their favorite filmmakers and creators, and content can be traded and monetized with ease.

Note that, among its other utilities, the $XET token can be used to invest in the Mzaalo NFT marketplace, and also list NFT projects on the market.

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