AI and NFT: Transforming the Entertainment Industry
During a panel session at Technext Conference 3.0 titled “The Future of Entertainment with NFT and AI,” industry experts highlighted the significant roles AI and NFT play in the entertainment industry. AI technology has been making waves in the music industry, with artists like Eclipse Nkasi leveraging it to create an afrobeats album in just three days. This is part of a growing trend of using AI for content creation and filmmaking.
Paul Okeugo, founder and president of Chocolate Music Group, expressed his support for AI’s impact on the entertainment industry, particularly music. He believes that AI has the potential to transform the music industry and embraces the growing trend. While some may be concerned about the risks of artists using AI for their craft, Okeugo believes that the benefits outweigh the cons. He emphasized that human creativity will always stand out in works created with AI collaboration.
Malik Afegbua, CEO of SlickCity Media, addressed the issue of responsible AI. He acknowledged that AI can be used for both good and evil purposes, such as deep fake audio. However, Afegbua believes that proper regulations and increased awareness can help tackle the misuse of AI for nefarious reasons.
NFT technology also plays a significant role in the entertainment space, according to Venn Oputa, co-founder of Afrobubble. Despite the decline in hype surrounding NFTs in recent years, Oputa is confident that there will be a comeback. He highlighted the importance of NFTs in helping artists and creators protect their intellectual property and democratize the spread of their content. NFTs not only affirm ownership but also facilitate audience engagement and financing creative initiatives.
The combination of AI and NFT has the potential to revolutionize the entertainment industry. AI can enhance content creation and collaboration, while NFTs provide a secure and transparent platform for artists and creators to protect their work. As these technologies continue to evolve, it is crucial to maintain responsible AI practices and leverage NFTs to empower artists and creators in the ever-evolving digital landscape.
Image Source: Technext24.com
