Shemaroo Entertainment is stepping into the blockchain space by partnering with PWR Chain, a Layer 0 blockchain known for its high-speed and energy-efficient transactions. PWR Chain will be the official blockchain partner for ShemarooVerse, Shemaroo's digital entertainment platform, with the goal of transforming content consumption, monetization, and audience engagement.
By utilizing PWR Chain, Shemaroo aims to tackle piracy, boost user engagement, and unlock new revenue streams through blockchain's transparent nature.
Blockchain to Redefine Entertainment
Shemaroo Entertainment is strategically using blockchain to create business models that cater to evolving consumer habits. COO Arghya Chakravarty highlights blockchain's potential to deepen audience interaction beyond passive content consumption. ShemarooVerse aims to be a blockchain-powered entertainment and social destination where audiences actively participate.
The blockchain technology market is expected to reach $1.43 trillion by 2030. The media, advertising, and entertainment blockchain segment is predicted to surge from $915 million in 2023 to $27.4 billion by 2032. Blockchain enhances ad accuracy and combats fraud, empowering creators and accelerating royalty payments. Chakravarty sees immense potential in micropayments and usage-based billing.
Combating Piracy and Enhancing Transparency
Blockchain offers a solution to piracy through its digital rights management system, ensuring transparent tracking of content ownership and distribution. Beyond piracy prevention, blockchain enhances transparency in digital advertising by immutably recording ad transactions. Shemaroo is running pilot projects in this area with promising results.
Revolutionizing Creator-Audience Engagement
ShemarooVerse aims to empower content creators by offering new monetization opportunities through tokenization and exclusive digital experiences via PWR Chain’s infrastructure. This gives creators greater control over their content, transforming it into interactive experiences.
Seamless Integration with PWR Chain
PWR Chain allows the deployment of Web2 software applications directly onto the blockchain, enabling Shemaroo Entertainment to integrate blockchain technology without overhauling its existing infrastructure.
Embracing Decentralization
ShemarooVerse aims to embrace the shift towards decentralization by fostering a more interactive entertainment ecosystem. Chakravarty views decentralization as an enhancement to existing models.
Phased Approach to Web3
Shemaroo Entertainment is adopting a phased approach to Web3, monitoring mass adoption trends in India. The entry of large enterprises like Jio into the blockchain space validates Shemaroo’s vision of Web3 as the future of digital infrastructure.
PWR Chain: Scalability and Sustainability
PWR Chain offers scalability, processing over 300,000 transactions per second using minimal resources. CEO of PWR Labs, Melanie Mohr, emphasizes the platform’s efficiency, enabling Shemaroo to integrate blockchain without high energy costs or scalability issues. PWR Chain supports Web2 applications directly, enabling features like tokenization and digital collectibles.
Balancing Environmental Impact
PWR Chain aims to overcome environmental concerns with a highly efficient validation mechanism and operates with a near-zero carbon footprint.
Mohr envisions a future where audiences can influence film storylines and participate in interactive shows with blockchain-backed voting. PWR Chain allows platforms like ShemarooVerse to introduce live, interactive, and participatory digital experiences.
The collaboration between Shemaroo Entertainment and PWR Chain marks a pivotal moment in the entertainment industry, with blockchain’s efficiency, transparency, and engagement capabilities set to redefine content consumption and monetization.
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