ELROND-BLOCKCHAIN  ♥  Industry Solutions

Art, entertainment and the blockchain

Pirated digital works are making it increasingly difficult for creators to protect and monetize their work. The Elrond blockchain and non-fungible tokens make it possible to acquire works from artists and software providers and securely determine ownership.

NFT and SFT

Non-fungible tokens (NFTs) are unique, non-divisible digital assets. They can be understood as a certificate of ownership and uniquely link digital works to their owner.

With NFTs, artists can monetize and sell works such as music, videos, animations, photos, and collectibles worldwide.

NFT solve two key problems of the digital art market: counterfeiting and trading stolen works.

With the sale of a tokenized artwork worth $69 million, auction house Christie’s recently solidified NFT’s role in popular culture as well as among traditional art collectors.

Unlike the NFT, the semi-fungible token does not represent a single asset, but rather represents an entire asset class. In an online game, for example, the ownership of a suit of armor can be represented in this way. Individual components, such as a sword, can still be traded separately.

NFT Marketplaces

NFT can be traded on (decentralized) exchanges. Settlement and payment takes place via a blockchain transaction.
Examples of NFT marketplaces in the art market:

The Elrond blockchain for art, gaming and entertainment

The potential applications of the Elrond Blockchain for the creative scene are as diverse as they are visionary. You too can rely on the technology of tomorrow with the blockchain.

01

Blockchain and major events

Safety is a top priority at events. Data collected via sensors can be used, for example, to analyze the flow of people, control digital guidance systems and keep escape routes clear.

Personalized wristbands could be used to target advertising at the event site to the audience.

The resulting data can be securely stored on the Elrond blockchain and used by AI and big data applications for further analysis.

02

Blockchain, royalties, profit sharing.

With the Elrond blockchain, license agreements can be embedded directly in the code.

In this way, artists, owners or authors can automatically collect predefined license fees for each sale – of a piece of music, for example.

Copyrights can be transferred and copyright communities can be defined via a smart contract. Proceeds are automatically distributed to individual authors or the collective.

03

Blockchain & Tickets

With the help of NFT, tickets for events can be digitized. Since NFTs are stored on the blockchain, they are absolutely forgery-proof and can be clearly assigned to the buyer or owner.

The options for reselling or giving away the tickets are regulated in the smart contract. Fraudulent activities are eliminated.

04

Blockchain, gaming, virtual & augmented reality

The games market is growing unceasingly. In most cases, the database with information about the player is held by the game provider. Players themselves have no ownership rights to their accounts and virtual items. There is also the technical risk of failures, manipulation, and hacker attacks.

With the Elrond blockchain and NFT, ownership rights to skins, equipment, and characters can be permanently transferred to players. Items can be developed and traded on a peer-to-peer basis.

Virtual and augmented reality

Digital vehicles, spaces, lands, experiences and more can be paid for with digital tokens. This also applies to assets between applications hosted on the same blockchain.

Examples:

decentraland.org
godsunchained.com

05

Blockchain and the GEMA

Year after year, millions of musical works are registered with GEMA.

Blockchain technology streamlines the associated administrative and technical processes.

Reporting on the use of licensed music can be automated to GEMA. License fees are settled via the blockchain.

More about the Elrond blockchain

The Elrond blockchain will revolutionize art, gaming and entertainment. We’ll show you why!

Functional Comparison

Elrond is a high-performance blockchain technology based on the proof-of-stake consensus mechanism. It was developed to eliminate vulnerabilities of other blockchains. Actually, we claim that Elrond is the best blockchain technology in the world.

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Cost Calculator

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Advantages of the Elrond blockchain

Blockchain Technology
Transactions without intermediary, fail-safe through decentralization, protection against manipulation.

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Adaptive State Sharding

More than 15,000 transactions per second possible, scalable upwards for maximum performance.

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Secure Proof of Stake
Optimal protection for sensitive data and information as well as an improved eco-balance.

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Low costs

Minimal transaction costs to ensure your competitiveness and optimize your pricing strategy.

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Adaptable Smart Contracts

Automatic transactions and payments according to defined rules and conditions. Smart, isn't it?

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Elrond ecosystem

Extensive network of validators, developers, investors, research partners and exchanges.

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Let's talk about Elrond, art and entertainment.

Want to learn more about the potential of the Elrond blockchain for art, gaming and entertainment?
Contact us for an orientation call. We look forward to hearing from you!

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References

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