philip lelyveld The world of entertainment technology

Littlstar Is Now RAD With NFTs For Entertainment Industry

“The momentum in the NFT space is palpable, and we have a deep conviction that every piece of digital content in the world will eventually be an NFT,” said Tony Mugavero, CEO of Rad. “This, paired with our experience in VR and AR, translates into Rad building the first streaming metaverse. We’re the only streaming platform in the world built for the NFT community, leveraging NFTs for subscriptions, access to video, and live events on mainstream devices. We are taking Hollywood and the creator economy into web 3.0.”

... In 2018, the company built and launched an entire web 3 content marketplace and native token using Ethereum to power Rad, called ARA. The content types supported include video, live streams, 360-degree video, and volumetric video, and the supported devices include mobile, smart TVs, and Sony PlayStation. 

...When we started to play around with blockchain in 2017-2018, we saw the power of smart contracts and immediately thought they would solve a significant number of problems. We could make smart contracts mirror what was happening in the paper contracts to a large degree, and it would mean that everything was more open and accounting was immediate and global.

In combination with smart contracts, we started looking at ways that we could use peer-to-peer content delivery to offset our streaming bills because we're moving around gigantic pieces of VR content. This is how the ARA platform powering Rad was born. Smart contracts plus content delivery, identity, and rewards. ...

There is one big difference between the hype of blockchain versus VR though. With VR, you have different behaviors and habits that need to change, you have to put on a headset, you have to create all new content, and people get sick if they're wearing a headset for too long. But with blockchain and NFTs, it's really less about the underlying content type and less about the device, and more about the commerce model and the means of distribution. That means Rad can scale our business much faster. It doesn't matter about the content type, and it doesn't really matter about the hardware. We can mint a video as an NFT and put it on a TV, or we can mint a piece of VR content and deliver it to an XR device. ...

See the full story here: https://www.forbes.com/sites/charliefink/2021/12/29/littlstar-is-now-rad-with-nfts-for-entertainment-industry/?sh=7184cb9a73d6