Last year's arrival of COVID-19 pandemic has dealt what now appears to be a mortal blow to cinema theatre industry. Although the process began a long time ago, in 1940s when the first television sets allowed audience to enjoy screen entertainment in comfort of its homes, it is now, seven decades later, that it looks final and irreversible. People simply don't want to risk their lives, spend time and their diminishing financial resources for visits to cinema when the same (and in many times superior) content they might enjoy through streaming.
While some entities – like HBO, and, later, Netflix – have recognised and exploited this trend even before the pandemic, major Hollywood studios have began to adapt to new reality. Warner Bros., which began to switch distribution of its tentpole blockbusters from theatres to streaming is an example which is going to followed by others. Lionsgate, relatively new Canadian media company which in recent decade and half became major Hollywood player, is another to enter into streaming and the first important studio that is going, although indirectly, be involved in world of cryptocurrency.
This is due to the deal with Theta.tv streaming service, which is so far known mostly for gaming content. Theta.tv is also known for having its own cryptocurrencies – Theta and Theta Fuel tokens, which help in governance of the streaming network. New deal will allow Theta.tv users to enjoy content from Lionsgate, including some very popular films and franchises from past few decades. Price of Theta advanced after the news, but it still remains to be seen whether this upward movement was fuelled by perspective of crypto enthusiasts having their own version of Netflix or is it just natural movement for this crypto bull run. In any case, one more door for mainstream adoption of crypto has opened.
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