The Revolution
Paving the way for the tech industry, blockchain, possessing the capability to transform lives, has revolutionized the dynamic tech and development world in terms of its operation mechanisms. At the core of this technology, embedded is a system of distributed ledgers that is responsible for tracing and tracking data entries between a network of computer systems by ensuring that the data is irreversible and verified in nature, thus boosting the transparency, decentralization and security of operations. Cryptographic hashing converts plaintext into a unique string of text called a hash. Each block in the blockchain is linked to the previous one by this hash, creating a chain of tamper-free data. Blockchain, originally associated with cryptocurrencies, has now empowered a diverse range of sectors, including healthcare, finance and entertainment.
Entertainment Meets Tech
For more than sixty years, Shemaroo Entertainment has been the frontrunner in cinema distribution and digital content creation in India. Having more than fifty YouTube channels, OTT Platforms and immense viewership for its television programmes, Shemraoo Entertainment has become a one stop destination for sterling entertainment content. On the other side, PWR Chain is a pioneer in the blockchain space that offers energy-efficient and highly scalable technological models and infrastructure to other firms. Their blockchain features an energy efficient technology that can process over three lakh transactions in just a second. Its design enables secure and easily connectible digital transactions. Based on this technological transformation, Shemaroo Entertainment has now joined forces with PWR Chain to introduce ShemarooVerse, an immersive content platform designed to transform the entertainment sector in the digital sphere.
A Sustainable Partnership
By employing PWR Chain’s scalable and eco-friendly blockchain infrastructure, Shemaroo hopes to create an immersive platform for audiences looking for next-generation interactive experiences. From Bollywood to regional to devotional content, ShemarooVerse aims to offer the audience content in the most dynamic form. This collaboration upholds sustainability as a major concept, as PWR Chain’s blockchain model operates on minimal energy, contributing very little to the carbon footprint. Unlike conventional blockchains, PWR’s model uses only one CPU per validator node that helps in processing and validating data, leading the way for a green blockchain technology in India.
Beyond sustainability, ShemarooVerse is set to create an opportunity for content creators to monetize their works. The platform would allow such creators to tokenize their work and create digital collectibles, which would provide a contemporary way to generate revenue and also interact with the audience. Through such tokenization and digital collectibles, creators can offer incomparable experiences, including limited releases and exclusive content that can be traded online as digital assets. Digital collectibles, often in the form of Non-Fungible Tokens are unique and provide a chance for fans to own exclusive digital items tied to the content that they cherish.
Apart from the monetization scope, PWR Chain’s blockchain is equipped to process the transactions in a safe and secure manner, ensuring immediate finality of recorded data. This would essentially mean that every transaction data of ShemarooVerse, once recorded, becomes final and irreversible, making it tamper proof. This feature essentially means that the users are in for a unique and flawless experience on the ShemarooVerse
Additionally, the blockchain model has quantum-resistant security, which is designed to withstand potential threats in the future, ensuring that the data recorded is safe and secure. Such high level security reassures both the creators and fans and shelters them from potential vulnerabilities. Both the COO and CEO of Shemaroo Entertainment and PWR Chain, respectively, have expressed their excitement about the transformative potential and growth potential that this partnership would contribute towards.
The Way Forward
This partnership between Shemaroo Entertainment and PWR Chain marks an important step into the digital future. It reflects the growing reliance and importance of Web 3.0 and blockchain technologies that aim to create a more decentralized, user focused experience. Globally, virtual platforms like Decentraland and Sandbox are reputed as metaverses where users can interact and trade digital assets. Meta is also heavily investing in developing its own virtual space that focuses on social and emotional connection. In India, the WazirX platform has gained high popularity and promotes the use of blockchain and Non-Fungible Tokens. Platforms like these are a constant source of opportunities in the digital creative industries as well as finance.
Overall, India must shift its focus from traditional technological developments to contemporary digital developments and infrastructure to keep up with global trends. This would promote the adoption of new technologies and offer creators a novel source of revenue as well. While the shift is essential, there must be clear regulations in place for effective implementation of such tech models. By such an integration of the blockchain with traditional media, India has the chance to redefine digital entertainment. This could allow India to provide audiences and creators a way to interact with each other by engaging seamless technological models in the global digital industry.
Authors: Seema Meena, Manasvi Shah & Simran Jayarao