We were honoured to have Mr. Kenneth Yeung, a veteran of structured finance and entertainment professional to talk to us about how blockchain technology can be revolutionary to the film industry.
Mr. Yeung began by unpacking the basic technicalities of “non-fungible tokens” (NFTs), emphasizing NFT is not created for speculations but a blockchain tool created to prove the uniqueness, indivisibility, and transferability of any assets. Through applying NFT technology to digital assets such as images and music, NFTs have essentially provided a means to transact ownerships on blockchain. According to Mr. Yeung, NFTs could revolutionize the film industry as NFTs allow film funding and distribution directly from creator to consumer, thus generating more profit to creators by cutting the intermediaries.
Our Cultural Studies students had expressed that they thoroughly enjoyed the succinctly informative talk on such a cutting-edge development of finance and films. The basic and key concepts of the market and the technology introduced by Mr. Yeung had also provided great entry points of further research.