Headlines From China: What Can Blockchain Technology Do in Entertainment and Media?

What Can Blockchain Technology Do in Entertainment and Media?

After the launch of bitcoin futures in major exchanges, blockchain has become a hot topic across industries in China. Many entertainment and media companies are trying to ride the blockchain wave in order to raise more funds. Simply put, the blockchain technology enables a decentralized digital marketplace and ensures transparent transactions. In the entertainment and media context, blockchain will help with disintermediation, distribution, and royalties. For instance, live streaming hosts will be able to connect with fans without any intermediaries. The gaming industry has been the first in entertainment and media to integrate blockchain technology, with Ethereum-based game “CryptoKitties” being one of the most popular games. Despite its popularity, It is still uncertain how successfully blockchain technology can be implemented in entertainment and media and how much government interference there will be. Read more on Sina

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Leshi Stocks Plunge Right After Reopening

Leshi stocks reopened after a 9-month suspension and went down in seconds after reopening. Former LeEco CEO Jia Yueting is currently still the biggest shareholder, holding 25.67 percent stake. Leshi, LeEco’s online video platform, said Jia and various non-listed units of LeEco owed it 7.5 billion yuan ($1.18 billion). Jia’s wife Gan Wei then responded on behalf of LeEco, disputing the amount, stating that LeEco only owed Leshi 6 billion yuan ($942 million), half of which has been arranged to be repaid. Meanwhile, Jia’s electric vehicle startup Faraday Future has recently paid off debt it owed to AECOM in full, making many speculate that Jia has obtained enough funding for the U.S. based startup. yiyuguancha

Russian Sci-Fi “Attraction” To Release in China Feb. 2

Dubbed the Russian Independence Day, Russian sci-fi drama film Attraction is set to be released in China February 2, 2018. The film begins with an alien spaceship crash-landing in Moscow district Chertanovo, The Russian government then immediately introduced martial law, as the locals grow increasingly angry at the unwelcome guest. The alien-invasion thriller is complete with world-class visual effects; the audiences will also get to see current Russian military equipment. Read more on Mtime

Musical Fans in China Favor Big-Name IP Adaptations

With Legally Blonde – The Musical, The Producers, and Jersey Boys taking the stage in Beijing, and Cats, Chicago, and Gone with the Wind to be opened soon, there is certainly no shortage of Western musicals for the Chinese audience. However, despite the availability, imported musicals are not a profitable business in China, yet. Legally Blonde – The Musical and many others alike, have only been able to break even, according to industry professionals. This is mostly due to the fact that Chinese audiences have not traditionally been exposed to musicals and thus have a limited understanding towards Western musicals; going to musicals is also a relatively new activity in China. This also explains why most choose to go after the big names in Broadway like Cats and Chicago. In the long run, it takes quality musicals to retain the audiences and help them develop their own musical preferences. Read more on entgroup.cn