Web3 media consultant Digital Distro removes web3 from services as bear market trudges on

Quick Take

  • Digital Distro, a media consulting firm, used to provide clients instructions on how to incorporate crypto into their entertainment experiences. 
  • The firm will remove all blockchain-based consulting until the crypto industry becomes more stable. 

Digital Distro, which describes itself as a full service web3 consulting company, intends to remove web3 from its roster of consulting services. 

The web3 services Digital Distro offered included education on the crypto market and ways for clients to incorporate blockchain-based products into their projects to create a "digital media experience." However, the firm will not pursue any projects that incorporate NFTs, blockchain or crypto until the industry becomes more stable. It's one of the first firms to cut web3 products after the bear market and legal maelstrom of 2022. 

"Given that the NFT and crypto space is still early on its development and has been filled with uncertainty, we feel that it is in the best interest of our shareholders to focus on film, music, and brand influence," Digital Distro CEO Andrew Lane said in a release. 

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Digital Distro provides full suite of pre- and post-production services for media professionals, including sets, casting, music production and branding strategies. The firm did not immediately respond to The Block's request for comment. 


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

Editor

To contact the editors of this story:
Lucy Harley-McKeown at
[email protected]
Christiana Loureiro at
[email protected]

More by MK Manoylov