#105 | Warner Brothers Replacing DVDs With NFTs?

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Hey friends,

Wonderful to have you with us, on today’s specially curated edition we have a wide range of promising Web3 stories from the new Crypto Market Structure Bills impacts on NFTs, GameStop and Telos partnership, and Warner Brothers NFT movies, so let’s jump into it!

It's common for Web3 to be compared to the wild west due to the technology being so new and countries/governments struggling to keep up with its developments. On our road to mainstream adoption, it’s the birth of new regulations that can help make the space safer and more accessible for everyone involved, and the latest developments of this come from the House Financial Services Committee and their new Crypto Market Structure Bill which puts a sharp eye on the world of NFTs.

Specifically, the legislation provides a statutory framework for digital asset regulation intended to provide clarity, fill regulatory gaps, and foster innovation, while providing adequate consumer protections. This will look at having oversight for the cryptocurrency market, including exchanges, custodians, and market users that could have a big impact on NFTs by placing more strict reporting requirements in an effort to provide buyers with better access to information and sellers with increased trust and credibility. Chairman Thompson summarises this by saying "For months, our committees have worked collaboratively to establish a viable regulatory framework for digital assets necessary to protect consumers and promote American innovation. Today’s release of the discussion draft brings us one step closer to bringing regulatory certainty to these novel and emerging technologies".

Since the bill is still in the proposal stage it’s hard to determine the specific impact it could have on Web3, but nonetheless these discussions that are happening around Web3 and NFTs emphasise the growing need for safeguarding people with this emerging technology. Regulators choosing a path that embraces the technology rather than impeding its innovation is a big win for Web3 and the future of our NFTs.

GameStop hasn't had it easy with its brick-and-mortar business model for video games heading in the same direction as now abandoned video stores, but we may see the comeback of a century with GameStop heavily investing in its own gaming NFT marketplace. Early last year, we covered GameStop's plans for a digital asset marketplace and a $100 million incentive fund for Web3 game developers, followed by a partnership with leading Web3 game developer ImmutableX, but their latest news sets to expand the NFT-based gaming eco-system even further through a new partnership with Telos.

The Telos Foundation is the group behind the Telos blockchain which is used for a variety of applications, such as gaming, finance, and decentralized applications (dApps). Where GameStop comes in is by offering Web3 games on Telos to GameStop’s own gaming-focused NFT marketplace and opening up new possibilities for a more secure and faster Web3 gaming experience. Head of business development at Telos AJ Dinger supports this new NFT gaming future saying “We believe this partnership will drive the adoption of Web3 among new users. By integrating GameStop Playr with Telos’ high-performance blockchain infrastructure, we can overcome the obstacles that have been holding back Web2 players from embracing Web3.”

As GameStop rebrands itself as a Web3 gaming platform, it's a wholesome story of redemption while foreshadowing the future of gaming powered by NFTs that give true ownership over your digital inventory. Although traditional gaming is by far the most popular platform in our currently dominated Web2 world, it’s exciting to see big players like Telos and GameStop take advantage of the new opportunities and help usher in this new age.

Warner Brothers is yet another gigantic Web2 conglomerate that has shown a massive interest in Web3 whether that’s their Web3 Music Label, NFT Wearables, or Sporting Collectibles. However, one of their most fascinating ideas has been the rebirth of collectible box sets that quickly became obsolete in our digital world. October last year saw the birth of the “WB Movieverse” when Fans could purchase The Fellowship of the Ring (Extended Version) 4k UHD film as a multimedia NFT, and it seems Warner Brothers is doubling down on this idea with the new release of 1978’s Superman movie.

In partnership with “content blockchain” Eluvio, The NFT version of Superman: The Movie will be available from June 9th with even more features building upon the success of a physical disc by offering things like "dynamic menu options based on iconic locations from the film". There will be two NFTs up for grabs; a Standard and a Premium edition, each offering a new realm of fan experiences through utility like exclusive artwork, different movie cuts and behind-the-scenes image galleries amongst other special features. General Manager at Warner Brothers Jessica Schell, says “We have a really rich archive of content, and we’re committed to staying on the forefront of new technologies. [Buying the NFT] is designed to be frictionless. When you see the movie, it’s really easy to miss that it’s actually using Web3 or NFTs under the hood. This is for the fans of the franchise. It’s not just for early NFT adopters or crypto fans”.

The Superman Web3 Movie Experience will be available using both credit cards & cryptocurrencies so fans can have the flexibility to get involved with Web3 however they like, but theirs no denying how the NFT infrastructure will create that same DVD set sense of exclusivity and rarity that introduces a new era of digital film consumption and fandom.

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None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.