The Next Revolution For NFTs Is Narrative Media

The main focus in today's publishing industry is the sale of IP and the production of movies and TV shows. The idea here is that you take a book or comic series, adapt it for the screen, and hopefully generate more revenue afterward than could ever have been possible in a limited - and slowly dying - medium.

Titles are being adapted into major releases with big stars and big budgets because selling tickets, merchandising and media to an audience who have been tried, tested, and activated is what maximizes returns.

For years now we've watched as major studios have looked to comics for inspiration and content, with mixed results. The truth is that there's no one formula for success in the world of comics. For every Watchmen there is a Spawn, for every Incredibles, there is a Ultimates. Each property has its own audience, its own story to tell, and each needs to be taken on its own terms.

NFT's make for a better media product. NFTs have an advantage over other digital commodities because they are innately "immersive" and not just "digital"; they bring audiences in, and they turn them into highly engaged, highly invested communities. There's already an ownership element built-in, and the potential for cross-platform marketing has barely been tapped into.

NFT's will find a way to capitalize on the opportunity and give audiences a richer story-telling experience, built around highly immersive universes and properties so that they can get better stories, more engaging content, and deeper levels of engagement than ever before.

NFT's are also empowering more creative communities. We can expect to see a rise in independent creators who are able to tell the stories they want, without being locked into some studio paying for screen time. If you have an idea or an IP that you know would work well as an NFT then there's nothing stopping you from creating, owning, and sharing it.

This isn't just idle speculation. Yuga Labs, creators of the Bored Ape Yacht Club, have signed a deal with Hollywood management co Maverick, covering a vast array of formats, including film, TV, music, gaming, podcasting etc. As a part of this arrangement, they will be creating and sharing the first NFT-based mainstream media properties.

IP is gold - and IP sells ideas. All you have to do is tell a good story and people will want to be a part of your world. NFTs need to be communicable on platforms that mainstream audiences engage with, not just dApps on Ethereum.

The average person right now doesn't give a shit about a smart contract. But you show them a #BAYC or @MaxonBollocks story and get them to give a s**t, and they'll be onboarded into Web3. 0 as the next wave of the internet.

NFTs need to be communicable on platforms that mainstream audiences engage with, not just dApps on Ethereum. To do this means more than just shilling on Twitter. It means actually bringing NFTs to the masses in a way that they can grasp.

Tokenomics are cool, but tokenomics won't onboard mass users into NFTs and DeFi. Translating tokenized properties into narrative media that mainstream audiences can grok will unlock accessibility faster than complex commodities.

Projects with lore/storytelling built-in are further ahead than properties with staking, breeding, or any other form of complex tokenization. Non-Fungible Heroes, an NFT that launched a couple of months ago, is a rich and growing world full of battles, adventures, characters and legends, and is already primed for adoption.

Narrative media gives NFT creators the opportunity to build a much richer environment for their IP. This means that the TV or film series can take place alongside a book, comic, web series, or other media. The possibilities are endless.

Ingredients for success are already present. The next step is to make the narrative media narrative, ie build worlds where NFTs exist as part of an immersive experience, build the storytelling into the platform itself, and get the audience to give a shit about the characters they're buying as tokens.

The future for narrative media isn't written yet but whatever happens, disrupting or changing legacy forms of narrative media will be at the heart of it. At the moment only games come close to being able to give players an environment similar to that supported by tokenized communities, but even then the level of immersion is limited.

The narrative media evolution will be an NFT revolution.

It makes no difference if you produce podcasts, movies, TV shows, or comics; one of these days NFT properties will be front and center in pop culture, and they'll drag the rest of us along with them.