6 The term “Mediaverse” is a fusion of “media” and “metaverse,” encapsulating the intersection between the media industry and technologies. Mediaverse: The Rise of Decentralized Media Explained By a Legacy Media Executive By Stephen Tague* Giovanni A. Pedde, author of Mediaverse — The Rise of Decentralized Media, is an experienced media executive with a unique insider’s perspective. After working as an entertainment lawyer in New York City, he moved to Rome, Italy, where he led Paramount Pictures International TV’s operations in Italy, Spain, and Portugal. He later took a similar role at CBS. Mediaverse offers a multifaceted analysis of decentralization in the media industry, enhanced by Pedde’s extensive experience. The book was published in 2024 by 2137 AD, an online company, and it is available on Kindle. Pedde does not advocate for a utopian vision of decentralized entertainment but rather presents a nuanced discussion of its strengths and weaknesses. His background allows him to dissect the economic, legal, and business implications with authority, making Mediaverse a must-read for media executives, content creators, legal professionals, and investors looking to navigate the Web3 (i.e., the interaction of the Internet and decentralization) landscape. It explores the shifting dynamics of entertainment in the age of blockchain, DAOs (Decentralized Autonomous Organizations), and tokenization, and examines how these emerging technologies are disintermediating the relationship between creators and audiences. Breaking the traditional gatekeeping structure that has long defined media production and distribution, Pedde presents decentralization as both an opportunity and a challenge, offering a thorough assessment of the financial, legal, and business implications. A central theme of Mediaverse is how decentralization disrupts the gatekeeping mechanisms that have historically controlled entertainment. For over a century, content-creation, financing, and distribution were largely dictated by Hollywood studios, record labels, and corporate platforms, leaving creators with limited autonomy. Pedde examines how blockchain and smart contracts provide an alternative framework, where creators can interact directly with their audiences without needing institutional approval or relying on legacy financial structures. The 179-page book illustrates how tokenization allows for new monetization models, such as Non-Fungible Token (or NFT, as the online token is called) projects where audiences buy into a creative work at an early stage, receiving ownership stakes or exclusive content in return. Similarly, DAOs provide a community-driven governance model, where fans participate in funding decisions and even content development, shifting power away from executives and financiers toward decentralized collectives. Streaming services, while disruptive to traditional media, have retained a centralized business model, controlling pricing, licensing, and revenue allocation. Pedde discusses how decentralized platforms could challenge this by giving content creators a more equitable share of profits while allowing audiences to directly support and engage with their favorite artists, filmmakers, and game developers. While Web3 technologies offer promising alternatives to traditional funding and revenue-sharing models, Pedde is careful to examine their sustainability. He addresses the volatility of tokenized economies and the speculative nature of many NFT-based entertainment projects, warning that early adopters may benefit disproportionately while average creators struggle to generate meaningful income. The book contrasts decentralized financing with traditional media investment structures, explaining how blockchain-based crowdfunding could replace venture capital models but also introduce new risks related to investor protection and regulatory oversight. Pedde argues that while decentralization reduces reliance on major studios and labels, it does not automatically guarantee financial stability for creators. Mediaverse provides a clear analysis of the legal uncertainties surrounding decentralized entertainment. Pedde highlights critical issues, such as the intersection of blockchain and copyright law, the enforceability of smart contracts, and the governance of decentralized platforms. Pedde acknowledges that while decentralization empowers creators, it also introduces legal grey areas that need to be addressed for long-term viability. He emphasizes that the shift toward Web3 will require significant adaptation from entertainment lawyers, regulators, and policymakers. The book also examines how traditional media companies are responding to decentralization. Some studios and labels are experimenting with blockchain-based engagement tools, while others remain skeptical of the viability of tokenized revenue models. Pedde suggests that the most likely outcome is a hybrid model, where decentralization enhances but does not entirely replace corporate structures. He provides case studies of platforms and companies that are adopting blockchain solutions, illustrating how some are integrating direct-to-fan monetization strategies, subscription-based DAOs, and NFT-backed streaming services. These experiments demonstrate the potential for decentralized finance and governance but also highlight the barriers to mainstream adoption, such as scalability challenges and consumer adoption rates. *Stephen Tague is a London-based media executive with his own advisory company — Asparagus Enterprises. He is the former EVP of CBS Studios International based in London. VIDEOAGE May 2025 Book Review
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