In - depth analysis of over ten thousand words: The impact of stablecoins on the cultural industry and application cases
Stablecoin is a type of cryptocurrency with relatively stable prices. It usually avoids sharp fluctuations by pegging to fiat currencies or other real - world assets. From a global perspective, this article explores typical cases of stablecoin applications in various cultural sub - sectors such as film and television, music, games, and art. It analyzes the specific application models, advantages, and challenges of stablecoin, summarizes the current limitations and risks of stablecoin applications in the cultural industry, and looks forward to future development trends.
Stablecoin is a type of cryptocurrency with relatively stable prices. It usually avoids sharp fluctuations by pegging to fiat currencies or other real - world assets.
As a bridge between digital currencies and real - world fiat currencies, stablecoin has rapidly emerged in the financial sector. On May 21, 2025, Hong Kong passed the "Stablecoin Bill", which is the world's first regulatory framework for fiat - backed stablecoins. On May 30, the "Stablecoin Ordinance" officially became law and came into effect on August 1. After the "Stablecoin Ordinance" takes effect in August 2025, Ant International plans to submit stablecoin license applications in Hong Kong, Singapore, and Luxembourg. JD Group plans to apply for an official license after the "Stablecoin Ordinance" takes effect in August 2025, with the goal of issuing stablecoins pegged to the Hong Kong Dollar (HKD) and the US Dollar (USD). JD Group CEO Liu Qiangdong clearly stated that stablecoin can reduce global cross - border payment costs by 90% and improve payment efficiency to within 10 seconds.
Globally, stablecoin is also entering various fields and links of the cultural industry, showing unique application potential. From a global perspective, this article explores typical cases of stablecoin applications in various cultural sub - sectors such as film and television, music, games, and art. It analyzes the specific application models, advantages, and challenges of stablecoin, summarizes the current limitations and risks of stablecoin applications in the cultural industry, and looks forward to future development trends.
Overview and Characteristics of Stablecoin
Stablecoin is a special type of cryptocurrency designed to maintain a stable value. It is usually pegged to a certain fiat currency (such as the US Dollar or the Euro) or a commodity (such as gold) at a 1:1 ratio. Different from cryptocurrencies like Bitcoin, which have highly volatile prices, stablecoin maintains its value stability through reserve assets or algorithmic mechanisms, making it more suitable as a medium for daily transactions.
Common stablecoins include USDT (Tether), USDC (USD Coin), BUSD (Binance USD), etc., which are backed by the US Dollar, as well as some algorithmic stablecoins. In terms of market share, Tether (USDT) holds the largest market share due to its first - mover advantage and wide liquidity, followed by USD Coin (USDC) issued by companies like Circle. USDT (Tether) and USDC (Circle) together account for approximately 80% - 85% of the market capitalization.
Market share of major global stablecoins (as of July 2025)
Overall, stablecoin has several remarkable features that make it attractive for cross - border payments and daily consumption:
Price stability: Since it is pegged to fiat assets, the price of stablecoin fluctuates very little. Holders don't need to worry about sharp price increases or decreases, making it an ideal means of value storage and payment.
Fast cross - border transactions: Relying on the blockchain network, stablecoin transfers can be completed in minutes or even seconds, and are available 24/7. Compared with traditional cross - border wire transfers, which may take 1 - 5 business days, stablecoin greatly improves payment efficiency.
Low fees: Using stablecoin for cross - border payments can bypass cumbersome intermediary institutions, significantly reducing handling fees. For enterprises that frequently deal with foreign currency transactions, the savings in exchange and transfer fees are quite substantial.
No need for intermediaries: Stablecoin transactions are based on a decentralized blockchain network. In theory, any user with a digital wallet can directly conduct peer - to - peer transfers without the need for traditional banks or payment networks as intermediaries. This enhances transaction autonomy and transparency and reduces dependence on specific financial systems.
Global usability: As a digital asset, stablecoin theoretically breaks through the geographical boundaries of traditional fiat currencies. In regions where regulations permit and payment infrastructure exists, holders can complete payments globally via the network without relying on local currency exchanges.
Thanks to the above features, stablecoin has experienced explosive growth in recent years. As of 2025, the global stablecoin market size has exceeded $200 billion. In 2024, the total on - chain transaction volume of major stablecoins reached approximately $32 trillion, exceeding the combined volume of traditional payment giants such as Visa and MasterCard. This data reflects the huge potential of stablecoin as a payment method and the rapid expansion of its practical applications.
Application of Stablecoin in the Film and Television Industry
The film and television industry involves multiple processes such as content production, distribution, screening, and copyright trading. The capital flow is complex and highly globalized. The application of stablecoin in the film and television industry is mainly reflected in financing, distribution, and copyright management, bringing new possibilities to the industry.
1. Application cases
Case 1: Blockchain - based financing and token issuance. Some independent film projects have attempted to raise funds by issuing cryptocurrencies or NFTs, allowing investors to participate in film investment in digital currency form. For example, in 2018, the science - fiction film "Braid" used the Weifund platform (based on the Ethereum blockchain) for token crowdfunding and successfully raised $1.7 million. Investors who bought the tokens issued by the project effectively obtained a share of the film's future revenues. This model uses blockchain to split film rights into tradable digital assets, lowering the investment threshold and broadening financing channels. During the token issuance and trading process, stablecoin can be used as a unit of account and a means of payment. Investors can subscribe for tokens with stablecoins such as Tether (USDT) and USD Coin (USDC), avoiding the risks associated with directly using highly volatile cryptocurrencies. After receiving stablecoin funds, project parties can use them for film production more confidently because the value of the funds is relatively stable.
Case 2: Film NFT issuance and revenue sharing. Besides financing, stablecoin can also be involved in film distribution and fan interaction. The film "Zero Contact", released in 2021, was issued in the form of NFTs (non - fungible tokens). Limited - edition NFT digital asset packages containing the full film were issued. Each NFT came with exclusive additional content (such as behind - the - scenes footage and exclusive interviews). Viewers who purchased the NFTs obtained permanent private viewing rights and collection rights for the film. This model set three milestones: the first Hollywood film issued in NFT form, the first precedent for NFT - izing a limited - edition full - length film, and the verification of the feasibility of blockchain - based revenue sharing. In this project, fans used cryptocurrencies (including stablecoin) to buy NFTs, providing the film studio with financial support before the film's release. At the same time, viewers who held NFTs effectively owned a part of the film's "digital copyright" and could even share in the film's subsequent revenue dividends. This innovation transforms viewers into investors and enhances their sense of participation.
Case 3: Cinema payments and cross - border distribution. In the film screening and consumption segment, stablecoin has also started to be tested. Some cinemas in the United States (such as Regal and AMC) have partnered with cryptocurrency payment companies, allowing viewers to use stablecoin to buy movie tickets and snacks like popcorn. Viewers can complete the payment by scanning a QR code with their mobile wallets using stablecoins such as USD Coin (USDC). The whole process is fast and does not require cash or credit cards. For cross - border distribution, stablecoin can simplify the international revenue - sharing process. For example, when a film is released in multiple countries, the distributor can use stablecoin to settle the box - office shares to distributors in each country in real - time, eliminating the complexity and delay of traditional bank wire transfers. This is quite attractive to small and medium - sized film companies and international co - productions.
2. Analysis of application models
In the film and television industry, there are mainly three application models for stablecoin:
Firstly, tokenized financing, which means raising funds for films by issuing blockchain - based tokens or NFTs. Stablecoin serves as a medium for subscription and trading, reducing price - fluctuation risks.
Secondly, copyright and revenue management, which uses smart contracts and stablecoin to automatically distribute box - office revenues and copyright fees. For example, every time a movie ticket is sold or a playback is authorized, the smart contract automatically distributes the corresponding revenue in the form of stablecoin to relevant parties such as investors, directors, and actors.
Thirdly, consumer payment, which introduces stablecoin payment in movie - ticket sales and the purchase of peripheral products, providing viewers with a new payment option and helping cinemas reduce payment - processing costs.
3. Advantages and challenges
The advantages that stablecoin brings to the film and television industry are as follows: Popularized financing, which lowers the threshold for film investment, allowing fans to support film projects; Efficient and transparent settlement, which records box - office and copyright revenues on the blockchain, automates the revenue - sharing process, and reduces human errors and fraud; Cross - border convenience, which makes cross - border capital flows faster and helps manage funds for international co - productions and distributions.
However, the application of stablecoin in the film and television industry also faces significant challenges. Firstly, there is the risk of market fluctuations. Although stablecoin is pegged to fiat currency, overall fluctuations in the cryptocurrency market may affect investors' confidence. Secondly, regulatory risks cannot be ignored. Many countries regard token issuance as securities issuance and require strict regulatory compliance. Otherwise, it may cross legal red lines. Thirdly, in terms of industry acceptance, traditional film companies and investors still have doubts about cryptocurrencies, worrying about compliance and reputation issues. Therefore, promoting the application of stablecoin requires time and successful cases to prove its value.
Application of Stablecoin in the Music Industry
The music industry is one of the earliest industries in the cultural field to experiment with blockchain and stablecoin technologies. The traditional music industry has long faced problems such as opaque royalty distribution, low revenue shares for creators, and slow cross - border payments. The introduction of stablecoin provides new solutions to these problems.
1. Application cases
Case 1: Audius - a decentralized music platform. Audius is a music streaming protocol built on the blockchain, aiming to allow musicians to directly distribute their works to listeners and receive payments without going through record companies or platforms. Audius has chosen USD Coin (USDC) as the internal payment tool on the platform for users to purchase music content and for creators to receive revenue settlements. Through USDC, users can pay creators in near - real - time and at low cost, and creators can immediately receive their income in the form of stablecoin pegged to the US Dollar, avoiding exchange - rate losses and delays in traditional payments. All transaction records on the Audius platform are recorded on the blockchain, ensuring the transparency and traceability of play - count statistics and royalty distribution. This model increases the revenue share of independent musicians and strengthens the direct connection between fans and creators.
Case 2: Independent musicians issuing NFTs and using stablecoin for payment. Besides streaming, some independent musicians have started to directly sell music works or peripheral rights to fans by issuing music NFTs (non - fungible tokens). Stablecoin also plays an important role in these transactions. For example, in 2021, singer Grimes auctioned digital art and music works through NFTs, with a total revenue of over $6 million, and most of the transactions were settled in stablecoin. Another example