Script TV brings Web 3.0 and blockchain to the TV and Film Industry
Script TV is a platform that empowers users with a fun experience and rewards content makers with more earnings and valuable data, whilst improving the ecosystem for millions of content owners through more distribution, faster payments and technology to connect with their audience.
United Kingdom — One of the most sought-after activities to do for people all over the world is to watch videos and have other forms of digital entertainment online. During COVID, many people were confined to their homes with their televisions and other electronic devices because they were not allowed to interact with other people. Even going into 2023, the lifestyles of many have changed in regard to how to view and interact with entertainment products.
In addition to delivering content from content owners in the entertainment industry, Script Network helps to bridge the gap that exists between the world of traditional media and blockchain technology. The first of their products to be released to help bridge this gap is Script TV – a linear live TV platform built on blockchain.
Script Network is an open-source layer one TV platform, protocol, and storage network that has launched Script TV, the world’s first watch-to-earn live TV platform. This unique platform allows users and content partners to interact through trading NFTs or live chats. Script TV’s platform also offers decentralized video storage solutions and advertising to crypto projects.
“We aim to be the solution and ultimately the ‘last mile for millions of filmmakers and content owners by providing them unrivaled speed on payment and distribution across a new market,” said the spokesperson of Script Network.
Subscription costs for popular services range from $5.99 to $14.99 per month, which might not be a budget buster, but when combined with multiple platforms, the cost quickly shoots up, According to a recent survey, 1 in 4 spend more than $75 per month on streaming subscriptions, and 1 in 10 have “no idea” how much they spend. In the USA, that amount reaches $219 on average. These figures are comparable to the UK in spending habits on various streaming platforms. And in return what do users get? Headache of switching to different platforms for different shows. Managing multiple streaming accounts and all the complexities that come with it.
Many people think the United Kingdom is the best place to make movies and TV shows. The facts show that £2.36 billion was spent in the country in 2016 on foreign investment and co-production of movies and high-end TV shows. Despite the existence of Covid-19, the United Kingdom was to spend £2.84 billion on film and television in 2020. Funds were allocated to recording new albums beginning in January, but by March, those allocations ceased. Production resumed in July after post-production and visual effects were completed.
Script TV is changing the industry by offering a clean, decentralized storage system with simple and quick methods for owners to distribute content. Most importantly, it utilizes its blockchain ecosystem to maximize security and scale and provides multiple-scale networks with NFTs and projects to build and distribute efficiently. The current market’s main issues are a lack of user interaction, a delay in the scaling process for content partners, no rewards or benefits on any platform, and no system to pay users the correct amount per value.
Tokens are typically used to represent the rewards earned. Tokens help with staking, give voting power to the network, can be traded for real-world things like festivals or events, and can be used to own more significant projects like a film or NFT collection. Following the test launch in October, the platform will be fully operational in December.
The decentralized storage protocol from Script Networks allows automatic transcoding, which saves businesses up to 80% on video transfer and storage costs. It also has a gamified system that lets users earn rewards and improve their viewing experience using NFTs. The user also doesn’t have to pay anything to get an authentic personal code and the first five channels of 24/7 coverage.
They set the goal of resolving three critical industry issues across the network:
1. A significant market gap in which users pay hundreds of dollars per year for content but receive nothing in return. To fix this, users are able to earn rewards and money whilst watching content
2. Video delivery (especially in the enterprise) is sluggish, slow, and costly. Through Script Network, companies that utilize video at scale in their company can save up to 80–85% on their storage costs.
3. Content owners suffering from a range of issues, including slow deals, lack of distribution, slow payments, and no data to name a few. Script Network fixes this through unrivaled technology for content owners to get closer to their audience with data, new distribution options and audience-tailored opportunities.
The long-term goal is to be a leader in technology, development, and exposure to web 3.0 tools for the television and film industries.
About Script Network
Script Network was founded with a clear mission and purpose to enhance the world of television by bringing it to Web 3.0 and the blockchain ecosystem. Script network is determined to break down the problems with the current media industry through innovation, fair profit, and sharing a revolutionary new platform that provides users with a new and better experience.
Company Name: Script Network
Contact Person: Media Relations
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Economy Jack journalist was involved in the writing and production of this article.