The Western Dominance in Entertainment

For too long, the entertainment landscape has been painted with a Western brush, leaving a colorful palette of stories from emerging markets underrepresented. While shows like Squid Game have altered the narrative slightly, the dominance persists, creating a need for change.

Web3: The Game Changer

According to Mehmet Eryılmaz, the CEO of Faro Company, Web3 technology is here to disrupt the status quo. He argues that traditional media companies often act as gatekeepers, stifling diverse voices and cultures. Eryılmaz states, “This exclusion not only reflects what type of stories are being told but also prohibits the full story from being told.” In other words, if you’ve never seen a story that looks like yours on-screen, it can mess with your sense of self-worth.

The Cute Yet Powerful Technology: Fractional Ownership

One of the key features of Web3 is the ability to fractionalize assets. This means that creators from developing markets can attract investment that wasn’t previously available by allowing multiple co-owners of a piece of content. Eryılmaz enthuses, “By fractionalizing any asset into much smaller units, the economic benefits of such assets are opened to significantly more parties.” Imagine getting a slice of that hit indie film’s profits—even if it’s just a crumb of the proverbial pie!

Decentralization: A Soft Spot for Creators

The decentralized nature of Web3 isn’t just good news for investors; it liberates creators from the old-school profit distribution models. Eryılmaz points out, “Web3 is hugely exciting for content creators, freeing them from traditional gatekeeping and unfair profit distribution.” In layman’s terms, this means creators can finally hold a little more power in their hands, or rather, in their digital wallets.

A Bright Future for Diverse Storytelling

Faro Company stands at the forefront of this exciting change, working tirelessly to elevate local voices to a global audience. Eryılmaz passionately shares, “In a way, we want to be the beacon of light of possibility to those creators from countries that do not have an established mainstream and/or independent content industry.” In other words, if you’ve got a story, it’s about time the world heard it!

Conclusion: The Ownership Economy

With the emergence of what Eryılmaz describes as an “ownership economy,” more creators can explore avenues to share their diverse narratives. The Web3 revolution isn’t about taking over; it’s about sharing the mic and ensuring everyone gets a chance to tell their story. Hell, who wouldn’t want to see a musical about a chaiwala in India or a suspense thriller set in the bustling streets of Lagos?