NFT is the center of the Metaverse, bringing two new changes in the cultural industry

In the Metaverse ecology, NFTs are much more important than virtual humans.

NFTs are the center of the Metaverse.

It is said to be the center of the universe, because I once lived for several years near Wudaokou in Beijing, which is known as the center of the universe—

Wudaokou is a top university (Tsinghua University, Peking University) and workers’ clubs coexist, railways pass through the road, the most expensive high-tech building and an urban village with a few dollars a sesame cake are only tens of meters away, and the most fashionable Cool bars, dance halls, a lot of authentic foreign restaurants, young people and students from all over the world (the language university for foreign students to learn Chinese is also nearby), and there is even China’s first railway, the Beijing-Zhangjiakou Railway The ruins of a century-old railway station…

Wudaokou, the former center of the universe

Old train passes by on the road

NFT is the center of the Metaverse, bringing two new changes in the cultural industry

With the continuous efforts of urban transformation, the Wudaokou of the year is almost disappearing, but it is really worth remembering. I have met all kinds of ambitious people there. I have calculated a little. The company he founded had a combined market value of nearly $100 billion.

The position of NFT in the development of the Metaverse is really similar to Wudaokou, which is also connected, converged and multi-dimensional coexistence.

To say that NFT is the center of the Metaverse is actually a joke. To put it another way—

NFT is the pass of the Metaverse ecology.

In the ecology of the Metaverse, NFT can confirm everything and connect the virtual and the real . It is not only the digital collection of IP art, but also the digital assetization of the real economy. Therefore, it can not only become the proof of brand value, but also become the Metaverse token of every physical item in the world.

Let’s look at the future Metaverse, which will be composed of a series of independent and connected sub-universe planets (worlds of reality and reality). People’s life, social interaction, and transactions in any sub-universe can be certified by NFT. As long as you have NFT, you can It can bring value from this sub-universe to another sub-universe, unimpeded.

The most direct and most influential change is the IP industry.

The cultural IP industry is undergoing two major new changes due to the emergence of NFTs –

NFT is the center of the Metaverse, bringing two new changes in the cultural industry

Come to the following one by one.

Cultural and Creative IP+NFT=IP Metaverse

Recently, I chatted with a commercial licensing manager of a certain line of IP who just left, and she told me a view: IP licensing will definitely develop to be NFT-centric.

She told me from personal experience that the current IP authorization chain is too long, slow, unstandardized, and inefficient—

An IP empowerment cooperation requires not only tedious negotiation to determine the terms, but also a lengthy process of gallery preparation, authorized product production, sales, and sharing, and the various changes, supervision, and review processes in the middle are very troublesome. Only IP can get the enabling revenue.

She believes that such an inefficient model will be thrown away by the innovations of the Metaverse.

She is very optimistic that in the future, the authorization of IP will be replaced by the issuance of NFT, which can greatly simplify and improve the efficiency of IP cooperation .

NFTs are revolutionizing the inefficient operation of IP

NFT will become the future authorization center of IP value, greatly simplifying and improving the efficiency of IP cooperation in a standardized way.

In the future, IP licensing can do the following: IP issues NFTs and sells them to the licensor, that is, to B; it can also be issued directly to fans of IP, that is, to C, and then licensor B buys NFTs from individuals to obtain IP authorization, either.

This is to turn the empowering value of IP into NFTs , and then through to B, or first to C and then to B, to realize the rapid realization of the value of IP, and allow the first purchaser to enjoy the bonus of IP value enhancement, of course, also Bear a certain risk of depreciation of IP value, in short, let the value of IP circulate.

This can greatly shorten the IP value chain, greatly improve the speed of IP monetization, and greatly improve the efficiency of the IP industry.

NFT is the center of the Metaverse, bringing two new changes in the cultural industry

Boring Ape NFT series,

Practitioners and winners of efficient operation of new IP

This path has been practiced in the popular NFT project of the BAYC Boring Ape Club overseas. The Boring Ape IP distributes NFTs and opens copyright sharing methods, so that everyone who owns the Boring Ape NFT can help to derive IP. and value realization, which has greatly improved the value development speed of IP.

Here are two examples of Boring Ape IP development:

Adidas Lets the Boring Ape Wear Adidas Costumes in the Metaverse

NFT is the center of the Metaverse, bringing two new changes in the cultural industry

This is not a traditional IP authorization, but a direct combination with the Metaverse application experience: in the adi-verse Metaverse space of adidas, people can directly interact with the boring ape, and buy NFTs to get adi clothing.

Universal Music buys Boring Ape NFT to create a virtual band

NFT is the center of the Metaverse, bringing two new changes in the cultural industry

The famous record company Universal Music Group (UMG) recently announced that it plans to turn the purchased Boring Apes into a virtual band of the Metaverse.

Universal’s approach is very simple. Based on the fact that the boring ape has opened the copyright application of the NFT owner, the WEB3 brand under UMG announced the acquisition of the boring ape’s Ape NFT#5537 at 10:22PM. The acquisition was valued at about $365,000 at the time.

The illustration of the ape, with attributes such as a blue dress, aviator hat and white fur, will be used to create a character called “Noët All” who will act as the manager of a fictional band.

Universal Music said it was the first photo of the Boring Ape on its label. The rest of the band is made up of NFTs owned by Jimmy “j1mmy” McNelis and not owned by the company.

Jimmy, a well-known NFT collector and entrepreneur, is working with UMG on the project. Public blockchain data shown on the OpenSea marketplace suggests that McNelis himself actually sold the latest NFTs in his personal collection to Universal.

This is a brand new IP development model——

It is completely different from the traditional complex IP authorization, and it does not need to spend a lot of time talking with the company behind the boring ape about the tedious IP authorization details.

Universal Music Group only needs to create the image of the boring ape that it just bought NFT.

This will completely change the development efficiency of IP and the cultural industry, and also greatly change the traditional perception of IP copyright…

It turns out that IP copyright does not need to be monolithic as a whole. You can use NFT to split an IP copyright into countless fragments, and each fragment can have its own independent IP development method.

This new IP operation model of Boring Ape not only enables IP to realize value through NFT, but also realizes fragmentation, standardization and decentralization through NFT.

At the same time, behind the boring ape model, IP is completely connected with the fan community and industrial derivatives, and the infinite extension of IP value is realized through NFT.

It is no longer that traditional IP is attached to various physical industries, but the real industry is attached to IP through NFT, which truly realizes the value of IP as the center, pooling efforts to create and share.

It would also break and subvert the hegemony of the Disney empire.

In the past, Disney established a closed-loop and comprehensive profit-making method around IP, covering all aspects accessible to consumers, such as theme parks, movie production, streaming media, retail… One by one, the virtual images created by people, once they arrive at Disney In their hands, they turned into full-power money printing machines, producing a steady stream of revenue at a speed that other companies envied.

Disney’s method is to absolutely defend the ownership of every IP, establish the world’s most stringent copyright protection method, and an extremely large team of lawyers to ensure that the rights and interests of IP completely fall into its own basket.

This method is very successful, but it is also very long, which makes Disney, which has established a first-mover advantage, firmly occupy the position of the bull in the global cultural industry, and it is difficult for other competitors to catch up.

The reason is that this system of IP creation, operation, and protection requires an extremely large scale and an extremely powerful combination of IP industries and ecosystems, and other competitors, such as Universal, Warner, and the new Netflix, cannot really shake it. Disney’s status.

Because their IP operation is still the old way of Disney, of course, they can only always fall behind Disney.

But this old method of securing the Empire’s lead may become obsolete and obsolete in the Web3-era Metaverse. 

The boring ape BAYC is taking a very different IP incubation and growth method from Disney , “BAYC membership costs the same for everyone”, the BAYC team not only sells NFTs, but also gives the owner complete commercial authorization rights, which actually gives the rights to IP. To every NFT owner.

As a result, people with NFTs can freely print their own ape on clothes, mobile phone cases and even facial masks. And these young people in the Web3 era are very fanatical, not only clothes and mobile phones, but also bathroom graffiti, offline parties, and so on.

The power of many NFT owners makes “Boring Ape” as dynamic as Mickey Mouse, and it is also the beginning of a new order and new game rules.

A new version of the Disney empire in the NFT era has surfaced, and the biggest difference between the new empire and the old empire is the new web3 operation method brought by NFT.

Just on March 12, BAYC parent company Yuga Labs announced the acquisition of two other well-known NFT projects developed by Larva Labs: CryptoPunks and Meebits, and also plans to provide all the commercial rights of these two NFT series to holders…

NFT is the center of the Metaverse, bringing two new changes in the cultural industry

Not long after the acquisition, just a few days ago, Yuga Labs released the BAYC Metaverse trailer. In the trailer, all kinds of superstar NFT images appeared, including: Boring Ape Yacht Club, Cypherpunk,

Cool cats, encrypted ADZ, Meebits, nouns and “Women’s World”, etc., just like a new Disneyland in the NFT era.

The “Ape” universe will be created after the trailer.

This is different from the “ape” universe in the Metaverse, which is different from the traditional Disneyland. Everyone can participate and create together. The ownership and distribution of property rights are completely solved through NFT instead of traditional IP management methods: “You don’t You need to go to Disneyland because you like Mickey Mouse and the princesses, where you are is your boring ape paradise.”

This method of realizing IP commercial copyright opening and rapid development through NFT is being imitated by more projects. Many NFT projects have started the operation of community + crowd creation + copyright independent operation similar to the boring ape, and the entire cultural market is developing. Set off countless “boring ape zoos”.

There are already music albums being released in the form of NFTs.

There are also comics being released in new NFT ways.

There are also movies that are using NFT for new operations.

In the game industry, there are a large number of new games dominated by NFT.

There are also publishing pages, newspapers and periodicals… “Time” magazine has just launched the world’s first decentralized magazine issued in the form of NFT, and NFT holders can read the full magazine interactively.

NFT is the center of the Metaverse, bringing two new changes in the cultural industry

NFT is the center of the Metaverse, bringing two new changes in the cultural industry

Times Weekly NFT with V God as the cover is online

Issued in a completely new way on the NFT market

We are entering a historical window period in which encryption technology deeply changes human society. The cultural industry will be the first field to be greatly transformed. Will Disney be completely subverted? uncertain.

But what is certain is that the way of creating a cultural IP empire in the future will no longer be the Disney way .

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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