In the past two weeks Digital NFTs, or non-fungible tokens, have had their exposure taken to another level. A New York Times reporter sold a picture of his column for $560,000 (donated to charity) and SNL even did a song about it. And NBA Top Shot gives hoops fans the chance to buy digital collectibles for anything from a couple hundred dollars to a couple hundred thousand dollars.
Eluvio last week introduced Eluvio Live, a 4K video streaming and ticketing service that uses the company’s Content Fabric. NFT’s are a part of Eluvio Live as it gives artists, athletes, and others a chance to create digital exclusives. But the core is allowing for those looking to stream content a way to do so with high video and audio quality and without the need to strike deals with CDNs, third-parties, or transcoding services. The content creator also has full control over digital ticketing and what kind of digital experiences are available (including NFTs).
Michelle Munson, CEO and co-founder of Eluvio, says Eluvio LIVE was created to address the fundamental shifts taking place right now across the music and entertainment industries.
“Artists and publishers want to reach audiences anywhere in the world, in a way that gives them the highest levels of financial control, video quality, and customization,” she explains. “The global shift towards streaming live events, necessitated by the pandemic, will become a permanent way to amplify in-person performances when they return, and the opportunity for artists to control their content destiny via blockchain technology has come together in a unique moment.”
Munson says Eluvio LIVE will enable ‘multi-experiential’ viewing opportunities to reach beyond the confines of physical venues. And while the announcement last week focused on musical performers it is clear that athletes, their sponsors, teams, and leagues could all create a wide array of new experiences for fans.
The Content Fabric is the first blockchain-based scalable content distribution network for premium video. Launched in 2019 and used by Tier 1 media companies such as MGM Studios and FOX Networks and mobile streaming providers, the platform was invented by a team led by Munson and Serban Simu, the multi-Emmy award winning founders and inventors of Aspera, a pioneer in digital video transport technology that was acquired by IBM.
Eluvio LIVE opens the Content Fabric’s allows for creators to distribute low-latency, owner-controlled content directly to fans through highly customizable event sites and digital experiences. The platform is compatible with AppleTV, Roku, mobile and browser platforms and offers built-in geofencing, dynamic personalization, and digital NFT (non-fungible token) creation. The latter allows for merchandising for concerts, performances, sporting events, movie screenings or premieres. Live content is automatically recorded and reusable on demand, and it can be refashioned and remonetized to support new events, creative collaborations, sponsorships, and availability windows.
Among the features are the ability to deliver to a million or more simultaneous audience members, simultaneous multi-views of camera feeds, and built-in encryption and DRM to prevent illegal redistribution and copying.
Users can also configure restriction of ticket authorization by audience geography, time windows, and ticket class allowing for events customized to locality and maximum return from each locality. And tiered ticketing options, such as premium viewing experiences (4K, HDR, multi-view), bundled merchandising options, re-watch rights, and exclusive content are also possible.
Most importantly, artists/publishers retain 100% ownership/rights to their content, backed by secure blockchain contracts to control authorized views and transactions. Eluvio says it charges no distribution or content management fees, but simply adds a “modest” percentage on top of ticket or merchandise/digital sale.
Other features include customizable integration of sponsor logos, private viewing experiences, interactive activations, VIP experiences, and more. Dynamic advertising and personalized merchandising, including interactive points on screen that allow users to click “hot spots” to buy during the event and integrated online merchandising storefronts are also possible.