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Netflix Is Using NFTs to Harvest Engagement Data. And TV May Never Be the Same

 

Netflix Is Using NFTs to Harvest Engagement Data. And TV May Never Be the Same

The Alpha

  • Netflix has released an NFT Collection on OpenSea commemorating the third season of Love Death + Robots.
  • The NFTs corresponding to the episodes featured scenes from the collection.
  • Netflix also held an IRL and virtual scavenger hunt to find these NFTs. The QR codes were left on IRL billboards and social media so that fans could find them.

Why it matters

Duncan Cockfoster spoke about the need for NFT to transcend its current status as a speculative space at the state of NFTs IRL.

OpenSea's Love, Death + Robots collection page will show you that these NFTs do not hold as much value as financial assets. This is why there was so much fuss about this collection. Why did 32,000+ people go to great lengths to find the QR codes that gave them access to these NFTs?

The simple answer is that the NFT scavenger hunters enjoyed the show. David Fincher, who also directed House of Card, is hard to dislike. NFTs, like crypto, have long benefited from community sentiment.

That's why Netflix's entry into NFTs is so notable. Netflix didn't just make money from the sale, but it also gleaned incredible engagement data from the LOVE, DEATH + ROBOTS NFT bonanza. Netflix created a framework that could lead to the future of TV ratings.

What's next?

Showrunners only have information about how many viewers each episode attracts when it airs. It doesn't give any information about how many viewers enjoyed each show. You can think about it: everyone watched the Game of Thrones finale. The Game of Thrones finale was almost universally hated.

Netflix can now look at sales numbers to determine audience sentiment on each episode of Love Death + Robots_' in the third season. Data suggests that the season opener, Three Robots: Exit Strategies is the most popular, but the finale, Jibaro, could be the most loved. The JibaroNFT is the highest-priced in the collection at 0.05 ETH. The NFT Collection's sale will end on September 25.

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