Web3 gives emerging market creators a chance, says Faro Company CEO

Mehmet Eryılmaz said that Web3 gives creators the opportunity to present their culture properly through movies and music.

While the entertainment and production industry is still predominantly Western-dominated, shows like Squid Game offer opportunities for non-Western productions to take off on the international stage. With the help of Web3, creators in developing markets can access a bigger stage, according to an entertainment industry expert.

In a Cointelegraph interview, Mehmet Eryılmaz, the CEO of entertainment-focused Web3 team Faro Company, shared his thoughts on how Web3 can contribute to the development of entertainment in emerging countries. According to the executive, media and entertainment companies have been plagued by gatekeepers, who have often failed to properly represent other cultures. He explained that:

"This exclusion not only reflects the type of stories being told, but also prohibits telling the full story. As social creatures, we all feel validated in our self-esteem by seeing ourselves reflected in the screen."

This is where Web3 comes in. Eryılmaz said that Web3 can open up new opportunities, allowing those in emerging markets to properly present their culture to the world through movies and music and have equal opportunity. He said that:

"Web3 gives creators and producers in emerging markets a chance to level the playing field, bypassing existing highly centralized funding and decision-making structures."

The executive believes that the future media landscape can be revolutionized by decentralized networks, smart contracts and token technology. Indeed, Web3 technology makes it possible to split the investments, allowing anyone to become co-owner of the content. Eryılmaz also pointed out that Web3 is behind what he describes as a proprietary economy that uses technology to distribute economic value to a global community.

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