CEO Jason Kilar, who is about to depart WarnerMedia, said that blockchain technology represents the future of Hollywood. According to him, the cryptocurrency sector’s foundation might potentially bring new ways of funding.
Hollywood to welcome blockchain technology
The cryptocurrency industry, especially blockchain technology, has gained another supporter in Jason Kilar, an American businessman. In a conversation, WarnerMedia’s CEO said that digital ledger technology has the potential to revolutionize the entertainment sector. He also anticipates that getting non-fungible tokens will become easier.
“I think that’s going to be a potential wave that’s going to be coming to Hollywood, in the same way that the DVD wave came to Hollywood in the 90s. Obviously, that changed the economic fortunes of a lot of these companies,” Kilar said of blockchain technology’s advancement and its potential to reach Hollywood.
America has a long history of working with digital technology and advocating for its continued development. From 1997 through 2006, he worked as an executive at the e-commerce behemoth Amazon. He helped develop the streaming service Hulu in 2007 and became its CEO.
Kilar was named as WarnerMedia’s Chief Executive Officer in May 2020. However, because of the COVID-19 epidemic, the film business was severely harmed by shuttered cinemas and increased internet competition in the following years. In the wake of the upcoming merger of WarnerMedia and Discovery, Inc., he previously confirmed that he would stand down as CEO.
Adrian Grenier of Entourage is also a cryptocurrency enthusiast
Adrian Grenier, who works in the Hollywood film industry, has also shown his support for cryptocurrency. Digital assets, according to the star of the TV show “Entourage,” may address a lot of the processes that are now dysfunctional and are fairly inefficient across many sectors.
He also defended bitcoin mining against detractors, claiming that cryptocurrency isn’t simply a device that consumes energy. According to him, the asset class has the potential to make numerous industries more efficient, and he anticipated last year that bitcoin would eventually replace fiat currencies.