For Variety VIP+ subscribers: Why Web3 holds Hollywood’s attention despite Disney’s metaverse retreat
for the terms “metaverse,” “NFT” and “Web3” have been declining after peaking in the first half of 2022. Searches for the term “NFT” briefly jumped earlier this year but remains far lower than previous levels.
“I’m excited about moving Web3, blockchain technologies past sort of the hype cycle that we’ve seen with digital collectibles and NFTs,” Greg Reed Universal Pictures VP Technology Partnerships said in anin January. “And actually, starting to think about how we can use the technology for good, for improving digital products and services to provide better experiences for our customers.”
her film “I Live Here Now.” That film was the first feature film to be fully funded by the sale of NFTs.
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