It sold NFTs (characters from the show with random properties, look at https://opensea.io/collection/stoner-cats-official for some examples) and each owner of an NFT obtains the right to view the actual episode when released. As these NFTs can be resold, people are collecting their favorite characters, bidding against each other. The makers of the series get a kickback for each sell
Because this is on Ethereum, this unlocks all sorts of other possibilities, some of which are described in the FAQ. Additionally:
* people could rent out their NFT in the future for others to view the episodes
* NFTs can be used as collateral for loans
* the makers of the series could distribute additional earnings back to the NFT holders
Of course, this is doable without a blockchain. But then it wouldn't have these directly on launch:
* a platform to sell the initial set of NFTs, publicly accessible and distributed provably fair
* a large number of wallets (and websites), all able to visualize the NFT to their owners
* a simple method of restricting access to the series to NFT buyers
It's not all that different from (transfer)wise except a bit less owned by one central firm.
It can be "pay this vendor when this thing ships" or "pay out this pot when this event or game score happens." Any measurable metric online can turn into the IF of an if then statement.
What does this mean ? Do you really need handholding to figure it out ?
It means that services will incur less fees for the client, and end up putting more money in the pocket of the vendor.
More money from the same transaction to the vendor == value by definition to the vendor.
Less fees from the same transaction for the client == value by definition to the user.
Saving money on services is perhaps the greatest value to society you can do. Who wouldn't want more money ? Is this not valuable to you ?