Cryptocurrency and blockchain technology infiltrated several industries, and entertainment is no exception. After all, the staggering growth of cryptocurrency markets is nothing short of a movie.
Many people are rooting for digital coins as they touch new cryptocurrency price highs. You may have sought options to generate cryptocurrency value through investments. Are you aware of how the entertainment industry is riding on the craze?
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The Subscription and Other News
You have probably heard about some of the major players in this field.
Actor Steven Seagal has been shilling Bitcoin, a cryptocurrency that was essentially an ICO created by someone who did not have the technical know-how to execute it.
Also, Forest Whitaker partnered with the blockchain startup WENN Digital and their KODAKOne platform for digital image rights management and compensation.
These are just a few examples of how crypto is in play in entertainment. Celebrities are using it as an investment vehicle and a way to get their names out there, while startups are using it to create business solutions for those working in the industry.
But what is crypto doing within the industry itself? How is it impacting films, documentaries, games, and other forms of media? What use cases does it present?
The Legacy of the Bitcoin Whitepaper
Netflix’s “The Legacy of the Bitcoin Whitepaper” documentary is now streaming on their platform.
Let us talk about the 2008 bitcoin whitepaper. It is a controversial document that changed the world but is considered a work of fiction by the financial community. The film features interviews with several people. They were skeptical when it came out, including Charlie Shrem, Erik Voorhees, and others.
The narrative behind this documentary is not about one man’s journey from obscurity to fame but also an exploration into what makes Bitcoin so appealing. The anonymity and its potential for wealth creation are key highlights of the latter. visit here
Curt
The Bitcoin community is up in arms over the movie “Crypto” starring Kurt Russell and Beau Knapp because of how it portrays cryptocurrency and blockchain.
Though the movie is about criminals using cryptos to launder money, it is not entirely about cryptocurrency. The Crypto website describes the film as “a powerful, intriguing thriller that traces a small-town art gallery owner’s descent into darkness.”
The movie could have the title “Currency,” “Money,” or “Folding Paper with George Washington On It,” and the plot would still be identical. The movie is no more about cryptocurrency than Rain Man is about autism or Schindler’s List about snorkeling.
Additionally, Bitcoin has always had a negative connotation in media coverage, and this new film does not help matters. However, we should remember that in 2008 there was a similar push from media outlets that called Bitcoin “the currency of choice for drug dealers and murderers.”
Many people were critical of Bitcoin back then because no one knew how it worked or how exactly you bought some bitcoin (obviously ignoring how easy it is today).
Tyler Winklevoss’s $400 Billion Market Cap
If you are interested in trading cryptocurrency, you are probably familiar with the Winklevoss twins. Tyler Winklevoss is the co-founder of Gemini, a cryptocurrency exchange that he started with his brother Cameron. The twins also famously sued Mark Zuckerberg for stealing their idea for Facebook.
The market cap for bitcoin is roughly $75 billion. Bitcoin’s price is currently hovering around $39,655 per coin. There are about 18 million bitcoins in circulation, and this number will eventually cap out at 21 million coins. Experts predict that bitcoin prices could reach $50,000 by 2023 and possibly even $400 billion by 2030.
Bitcoin can continue its upward trajectory right through these predictions and well into the future. However, there are plenty of risks associated with investing in cryptocurrencies.
Be Critical of Crypto Information
Do not believe everything you read. If you are new to cryptocurrency, you can get tempted to believe whatever articles and news items catch your attention. However, it is important to take any new information with a grain of salt. The field is rapidly evolving, and not everyone is up-to-date with the latest trends and developments.
So what should you do?
Double-check the information presented in an article or post if you can not find corroborating evidence elsewhere. Read up on cryptocurrency before taking a writer’s word as gospel truth. One of the most common mistakes by newcomers is believing everything they hear or read about a topic, especially when it is as complex as cryptocurrency!
Conclusion
To sum up, the future of cryptocurrency is still murky. However, it is critical to watch out for a few things for those looking to remain informed of its progress in the entertainment industry.
It can be whether there are any major changes in the technological infrastructure (both good and bad), any upcoming or new regulations that could impact how crypto gets used, and any media drama that can influence how people feel about cryptocurrency. If you can keep track of these things, you will be well-versed enough to discuss just anything related to crypto in the entertainment industry. Now get out there and wow your friends with your hard-earned knowledge!
