We all need to be considering the applications of blockchain on the creative industries.
With this new digital economy that will be created through giving value to data, it opens up the digital world to the scarcity mindset.
Think about how interesting this will be in terms of art, music, illustration, books.
You can create an original print or painting. A first edition book. A one off. A batch of limited editions.
Everything else is a copy - the decentralised network will then confirm the owner and mark anything else as an imitation, a fake and not the original.
This may seem small, but it then opens up your work to the market. Is a first edition book published online worth more than the identical copy? Let's find out.
It puts the power back into the hands of the content creator, you can assign value and scarcity to digital assets.
But then expand this out further - you can rent out 3D assets for example, for a small fee. Exchange digital content. Own digital land. Host content and pay micro-tranactions to the creator.
It takes the emphasis off attention and advertising revenue, and back onto creating content with value, and being rewarded that value. When your exposure scales, the value of your work and returns scale. Without the need for ad revenue.
Facebook will no longer get our data for free - we will get rewarded for posting, submitting our data.
Smart contracts and the blockchain will completely transform the paradigm of abundant data. This is going to be super empowering for the creative industries and content creators and will turn the economy on its head.
I personally can't wait to see how the community will tackle all these problems and create a new world. Keep pushing the boundaries everyone!