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Cryptocurrencies and the Entertainment Industry in 2019

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Cryptocurrencies and the Entertainment Industry in 2019
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The entertainment industry is just as big now as it always has been, potentially even bigger. This is as a result of it being able to move with the times so to speak, it’s embraced the latest technology and used it effectively to continue to move forward. With cryptocurrencies having gained more media attention over the last few years, they and the technology behind them, are now being touted as the latest tech which could have an impact in the entertainment sector.

There are many working in this sphere who you would describe as content creators working in the entertainment industry. They could be music artists, music producers, they may create video, or even text-based content. What has often been referred to as a problem where some of these people are concerned is that the content creators, in a way, must hand out a large chunk of their earnings to different parties, with social media websites and hosting platforms said to profit as a result.

This resulted in the technologists working in the crypto sector thinking and they have come up with what they believe is the perfect solution. The experts feel that the way forward is to build and operate a decentralised economy, using the technology behind some of the world’s leading cryptos, to provide content creators with the opportunity to deliver their content directly to the customer.

The structure that would be put in place is likely operate in a peer-to-peer style, with no middle men, governors, or intermediaries involved. Content creators, whether they produce sound, video, text, or something else, would be able to deliver their content directly to the platform, with users then able to purchase the content. This would even open the opportunity for custom content to be created too, with the content creators being paid 100% of their earnings every time.

With the likes of Tron, a firm from Singapore, already invested in this approach, it’s likely that 2019 will see further developments in this area. It could revolutionise how content is bought and shared around the world today, totally transforming the entertainment industry once again. There’s no doubting that the digital entertainment sector is moving towards a decentralised approach, and 2019 could see it take another giant step in this direction.

There’s also the likelihood that the entertainment industry in its current form could embrace cryptocurrencies more in their traditional sense. Gaming platforms and brands, such as PartyCasino which feature some of the world’s leading slot machines, could embrace cryptos more as a way to pay. This will then bring these operators in line with the likes of CloudBet who has one of the most impressive bitcoin gambling platforms in the business.

The online casino sector has always been keen to embrace new and innovative concepts, especially with this market being so competitive as well as extremely customer focused. Therefore, we should expect the online casino and gaming sectors in general, leading the way in showing how cryptocurrencies can be highly advantageous to any business that aspires to be the best.

With the crypto community still growing at an impressive rate, it makes sense for some of the more reputable cryptos to be accepted as valid payment methods by companies in the entertainment industry. While some have been reluctant to do so, companies are investigating both the pros and the cons, so 2019 could be the year cryptos make the breakthrough in this area.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Company That Offers Free Bitcoin for Purchases on Alibaba Graces CNBC’s Top Startups List

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    Bitcoin startup has secured a stop among the 100 best startups with less than $50 mln in funding

Company That Offers Free Bitcoin for Purchases on Alibaba Graces CNBC’s Top Startups List
Cover image via u.today

Lolli, the cryptocurrency firm that allows online shoppers to get Bitcoin rewards, has made to this year's "Upstart 100" list published by leading financial media CNBC. 

In its celebratory blog post, Lolli states that it is the only Bitcoin-related company that made it to the list that features 100 venture-backed startups from various industries such as artificial intelligence (AI), cybersecurity, healthcare, and e-commerce.  

"So excited and proud of what Alex and I and our amazing team have built in such a short amount of time. Making the CNBC Upstart list is high praise and great for both us and bitcoin. Many thanks to CNBC and our Lolli community!" says Lolli CEO Alex Adelman.    

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These companies have been picked up based on numerous metrics that include scalability, sales growth, access to capital, etc. CNBC had to choose the most promising startups among 600 companies that raised less than $50 mln in funding, which means that they are yet to produce significant impact on their respective industries. 

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Speaking of impact, Lolli has recently grabbed headlines by securing a partnership with Alibaba on Singles Days, a popular shopping holiday in China that brought the retail giant $38 bln in sales this year. From now on, Chinese-Americans can purchase goods on the site and get free Bitcoin instead of mundane cash-backs.  

As reported by U.Today, London-based digital payment company Wirex recently launched a multicurrency travel card that also lets its users earn rewards in Bitcoin on all in-store purchases.     

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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