Web3 Done Right: Token-Gated Access May Be the Ticket for Hollywood | PRO Insight

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Keep it simple, give fans something new and memorable and don’t confuse them with talk about NFTs, crypto wallets and blockchain

Now United
Now United, seen here in 2019, are releasing a musical over the blockchain. (Raffi Kirdi/Getty Images for Pepsi))

In a recent column, I wrote about an example of what’s wrong in the NFT world from the creative community’s perspective. Specifically, OpenSea recently changed its resale royalty policies and now prioritizes buyers and sellers over the creators who built the value of its marketplace in the first place. This week, fortunately, I can point to an example of Web3 in Hollywood done right — something that places creators front and center and connects them directly with their fans and audiences to unlock new value. The formula is essentially more taste (exclusive access), but less filling (NFT jargon).

This week, “American Idol” creator Simon Fuller’s new “The Musical: Welcome to the Night of Your Life!” motion picture musical debuts exclusively via token-gated tickets on Web3 app OP3N.