With its presence in a variety of sectors such as music streaming, gaming, and social media platforms, blockchain has no limits when it comes to entertainment. The movie industry is one area where blockchain is still being used.

All this is about to change as Vuele, a decentralized protocol, plans to extend blockchain’s influence into the movie industry. According to Vuele’s official website, Vuele is the best platform for viewing and collecting limited-edition feature films.

Vuele is the result of a partnership with CurrencyWorks, an innovator in financial technology, as well a NFT/digital payment provider and Enderby Entertainment which is a global movie, television and digital media company.

Vuele’s project is proprietary and aims to establish a standard for the industry.

The film industry is at the forefront of Vuele’s priorities. They deliver feature films as well as collectible content. Vuele aims to offer its viewers what other video streaming sites have stripped away. This is what you need to know.

Vuele helps consumers connect more deeply with movies and content they love

Cameron Shell (LON), the Executive Chairman of Currency Work and co-head for Vuele shared his thoughts on the issues they plan to fix in the movie and NFT industry.

Shell started with the basic aspect of the movie industry and stated that they want to fix the problem the consumers have in connecting to movies or other entertainment they enjoy.

Shell also referred to the past, in which DVDs were still used for data storage. People would keep a number of Blu-Ray discs of their favourite movies. Other scenarios saw people keeping memorabilia such as stickers or cards of particular moments in movies, in order to keep connected.

While this was achievable back in those days, Shell claims that a lot has changed in the movie industry, and now that we are well and truly in the era of streaming services, people don’t get to enjoy some of those aforementioned privileges and comforts anymore.

“In the streaming revolution, we don’t have that opportunity to own [media]. People subscribe to those bits of content for about 10 or 12 or 18 dollars or euros per month. During that time, we have unlimited access to the movies. This is fantastic in its own right. We see an improvement in that. Now we can actually use the movies. [version of our] own, an actual specialized copy of that movie,”
Shell noted.

Vuele is not an existing streaming service that offers specialized copies of movies or collectible content. Their proprietary solution brings full movie length content back in NFT, but this time it’s not.

In this context, a specialized copy of a film is a version that includes special interviews on the set of production, or behind the scenes (BTS), as well as other noteworthy moments from the movie’s production. These copies can be unique, and may differ from those that are eventually made public.

These specialized copies will be available to those who purchase them before the official theatrical release.

Once the aforementioned has been achieved, the second step is where the protocol takes a person’s movie interests, along with the movie in question (i.e the specialized movie copy), and integrates them into a metaverse where they can be easily accessed anytime, and anywhere.

Vuele, which aims to connect consumers to movie and other content, is integrating such content in a native metaverse, as collectibles.

A close comparison to Vuele, according to Shell, is ‘NBA Top Shots or autograph,’ on which people can collect special moments from the game as NFTs, similarly to collecting basketball cards which give fans special access to basketball players, or the league itself. It is the same concept in principle, except that it can be applied to the film industry.

Vuele to also Function as a Decentralized ‘Netflix’

Vuele, although its primary purpose is to provide consumers with special copies of NFT movies, Vuele can also be used as a streaming video service that decentralizes, much like Netflix, Amazon Prime (NASDAQ:), and others.

The theatrical movie version of the film will not be available until after the purchase is completed. “It is at this point that the experience is similar to Netflix,” Shell said, adding that the process of signing up and navigating the platform is smooth, seamless, and consumer friendly.

Shell claims by creating an account with Vuele that the user automatically sets up a wallet. However, this wallet is not encrypted using 16-bit encryption codes used in most decentralized wallets and exchanges. The wallet allows users to take part in NFT acquisition.

Vuele’s ultimate goal is to transform the movie industry by using blockchain technology.

Flipside

• The project’s uniqueness makes it more difficult to onboard new films. Producers, while finding the initiative extremely valuable, are skeptical of taking on the risks associated with leading the charge.
• Modern movies can be difficult to board, but it’s easier to get classic films onboard due to existing rights or contract holders.

What Are You Responsible For?

There has not been an NFT platform exclusively dedicated to movies before the Vuele protocol was introduced. The project is poised to grow into the next great movie franchise. This could mean that investors as well as end-users can tap into an abundance of opportunities.

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