NFTs and the Kenyan Film Industry

NFTs and the Kenyan Film Industry

Description/Paper Instructions

NFTs and the Kenyan Film Industry: A Game Changer?

NFTs, or non-fungible tokens, have become a buzzword in the world of art and entertainment. They are a form of digital asset that is stored on a blockchain, which is a decentralized, digital ledger that records transactions. NFTs are unique and cannot be replicated or duplicated, making them a valuable tool for artists and creators who want to monetize their work.

In the Kenyan film industry, NFTs could be a game changer. The film industry in Kenya has been struggling to grow due to a lack of funding and investment. Many talented filmmakers and actors have been forced to leave the industry in search of better opportunities. However, with the introduction of NFTs, there is potential for a new source of funding and revenue for the industry.

NFTs can be used to sell ownership of a digital asset, such as a film or a piece of artwork. This means that filmmakers and producers can use NFTs to sell ownership of their films, allowing investors to share in the profits of the film. This could be a game changer for the Kenyan film industry, as it would allow filmmakers to secure funding for their projects without relying on traditional sources of financing.

Furthermore, NFTs could also be used to promote and distribute Kenyan films to a wider audience. With the rise of online streaming platforms, filmmakers can use NFTs to distribute their films directly to their audience. This means that filmmakers can bypass traditional distribution channels and reach their audience directly, potentially increasing their revenue and exposure.

However, there are also potential challenges and risks associated with NFTs in the Kenyan film industry. Firstly, there is a risk that NFTs could be used to exploit filmmakers and actors. With the current lack of regulation in the industry, there is potential for unscrupulous investors to take advantage of filmmakers and actors by offering them unfair deals or taking advantage of their lack of knowledge about NFTs.

Secondly, there is a risk that NFTs could create a two-tier system within the Kenyan film industry. If only established filmmakers and producers are able to access NFT funding, then up-and-coming filmmakers and actors may be left behind. This could lead to a lack of diversity in the industry and stifle innovation and creativity.

In conclusion, NFTs have the potential to be a game changer for the Kenyan film industry. They offer a new source of funding and revenue for filmmakers and producers, and can be used to promote and distribute films to a wider audience. However, there are also potential risks and challenges associated with NFTs, and it is important for the industry to develop regulations and safeguards to protect filmmakers and actors. If used responsibly, NFTs could help to revolutionize the Kenyan film industry and bring new opportunities and growth to the industry.

NFTs and the Kenyan Film Industry

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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