Reshaping the Media Ecosystem: Transformations in the Media Industry Driven by Blockchain Technology

Abstract

Since its inception, blockchain technology has had an intrinsic connection with the media industry. It presents a new vision for building a decentralized, transparent information world. This paper systematically reviews the three developmental stages of blockchain media (BcM1 ): the initial phase of cryptocurrency news media, the growth phase of decentralized content management, and the current phase of innovations such as NFTs, DAOs, and decentralized social media.The study concludes that emerging technologies are pioneering unprecedented development paths for the media industry through innovative infrastructures, yet significant hurdles remain. This paper aids in comprehensively understanding how blockchain technology is reshaping the media landscape and provides theoretical insights and practical implications for the future development of the industry.