Rating: Hold
In the past three days, Netflix stock price has fallen a staggering 38%.
As Americans tighten their belts financially, subscribers are turning away from streaming services – for the first time balking at the monthly fees that were once considered good value.
Disruption is afoot.
Published one week ago, Theta Labs had this to say in their most recent Whitepaper:
“Subscription-based streaming businesses (Netflix, Disney+, Hulu+) are beginning to stagnate with low user growth and increased churn rate. Saturation and alternatives have driven consumers to re-think charging $20/month on their credit cards.”
The solution, the evolution of this industry, will be a turn toward “a Web3 equivalent.” In the process, shifting Video On Demand away from centralization of the big guns – towards a more individuated, selective consumption that brings a closer tie between the creators and fans. Zero friction.
Enter Twitch Pixel Studios.
You haven’t heard of them. Good point.
They are a passionate, hungry indie animation studio from Vancouver. Their drop titled: Good Game Collection is a generative NFT featuring the four main characters from an series called Unicorn Dick: Investigations.
You’ll need to dig deep into their website and Discord to learn more about a show that’s still in production. From what we’ve seen – the team is extremely positive and passionate. To be sure, this is not always the case. The DIY team is very responsive; answering questions and are open to suggestions from the community.
What we are seeing with Twitch Pixel x ThetaDrop is a unique partnership. An up-and-coming animation studio that is leveraging NFT’s as a fan-fueled investment to finish off the project.
The possibilities here are obvious. Twitch Pixel is likely to leverage ThetaPass technology to allow NFT holders to view their content – which will likely be hosted using Theta’s VideoAPI streaming technology.
Not sure if there’s been a more turn-key ready partnership on ThetaDrop. But expect more of these types of NFT drops.
As the sun sets on Netflix and Hulu centralized streaming – look toward NFT’s to become a major revenue source for all types of content. The way is clear – this is the direction media consumption will take over the coming years.
We’re a fan of the main character Mosley — a dart-smoking unicorn donkey that solves crime. With top voice talent on board, this could gain a cult following in short order.
This is the way.
Speculation abounds in the Theta Community that Netflix will inevitably want to leverage Theta’s tech to bring down their soaring CDN costs. Maybe they will, maybe they won’t. But in some capacity, Netflix will need to pivot towards the revenue stream of NFT’s in the near future.
Theta is on it.
And Twitch Pixel is a good indication of where it’s all headed. Long live indie media!
Good Game Collection
| Editions | 1337 |
| Type | Generative |
| Drop Date | 4/22 |
| Mint Price | $55 |