Film Coin price

This is a segment from The Drop newsletter. To read full editions, subscribe. A new Arbitrum-based blockchain called Studio Chain is launching to explore what crypto can do in the entertainment sector. Karrat Foundation worked with Arbitrum Foundation on the project. Karrat Foundation is behind the KARRAT token used by AMGI Studios’ battle royale game My Pet Hooligan, which the team says has seen over 500,000 downloads on the Epic Games Store so far in early access. KARRAT will also become the native token for Studio Chain, and My Pet Hooligan will launch on Studio Chain. Quick sidenote: A couple years ago, I got to check out AMGI’s studio in California where My Pet Hooligan is being made IRL. The team was incredibly passionate not only about their video game and their quirky rabbit-based IP, but also about their plans for animated films. They’re next door to Hollywood, after all. Studio Chain ties into that vision.  Abitrum Orbit is tech that lets others launch their own chains, and they’re all connected to create “a universe of chains.” Arbitrum One, on the other hand, is the main Arbitrum chain that’s an EVM-compatible L2 on Ethereum, using optimistic rollups to reduce network costs. So Studio Chain will be its own chain within the Arbitrum network of chains. KARRAT price action, sitting at $0.08 at time of writing “By leveraging Arbitrum’s powerful infrastructure, we’re able to create gaming experiences that were previously impossible,” said Luke Paglia, COO and co-founder of AMGI Studios, in a statement. “My Pet Hooligan is just the beginning — this collaboration enables seamless in-game asset ownership, true player-driven interactive extensions, and enhanced interoperability that will transform how audiences engage with entertainment.” In the statement, an unnamed Karrat Foundation rep hinted that the chain could change how “entertainment IP is created and distributed.” This is ambitious for sure, though we don’t really know more specifics on their plans just yet.  Studio Chain will have to compete with the many existing gaming chains out there, like Ronin, Sui, Immutable, and Abstract, as well as chains that launched to just support one game.  Off The Grid from Gunzilla Games is an ambitious game with its own chain, Gunz, using Avalanche, and has seen 4.9 million monthly active wallets as of January 2025. MapleStory’s upcoming crypto version is also planning to launch its own Avalanche chain, too. Gala has touted its crypto-powered film vision for years, but we haven’t seen that venture take off (Gala launched a FILM token last year, and that’s down 93% from its all-time high).  Gala FILM price over time on CoinStats Ultimately, we just haven’t seen any major blockchain film or television projects, or blockchain-based film platforms, skyrocket into the mainstream yet. Recently, niche plays have been making a splash, like The Normal Mfer, an animated short that heavily references meme culture, crypto culture, and the Mfers NFT collection. More broadly, it seems we’re still in this era of crypto where projects want to launch their own chains. We saw 104 gaming-related networks announced last year, according to data from crypto gaming platform Game7.  Starting a dedicated chain can give studios more control and independence, but I don’t know whether all of these chains will have significant staying power long-term.  I think it mostly depends on whether these games get enough consistent players — and revenue — to keep the lights on. Get the news in your inbox. Explore Blockworks newsletters: Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam. Empire: Start your morning with the top news and analysis to inform your day in crypto. Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance. 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more. Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks. The Drop: For crypto collectors and traders, covering apps, games, memes and more.