Comic heroes have long fascinated us. From Batman to Thor, these comic universes’ influence on pop culture, social discourse, and fans cannot be overemphasized. With Web3 on the horizon, new possibilities for turning fans from mere comic readers or cinephiles into active stakeholders and co-creators are no longer a fever dream.
The open nature of Web3 is attractive to necessitate a legal scope that covers the intellectual property of the franchises that exist in Web2. While prominent IPs from the biggest companies like Disney, Pixar, LEGO, DC comics, or the Marvel Universe are locked behind stringent IP laws, Web3 offers opportunities to expand these IPs into a string of interrelated multimedia that can include, but not limited, to movies, toys, video games, comics, etc.
What is left to be said is that Web3 is positioned at the convergence of new consumer trends and a world where AI and new digital innovations are revolutionizing how we interact with ownership, whether tangible or intangible.
Adaptations and Transformations
Web2 native IPs are traditionally the reserve of big corporations. They are centralized at the hands of CEOs and big boards that are often skeptical about dipping their toes in uncharted waters.
However, Web2 giants like Adidas, Nike, and Starbucks have actively embraced the opportunities of blockchain technology. Rather than single IP drops, these brands have turned to the Web3 immersive and virtual ecosystem. Consumers or fans can now interact with their favorite IPs in multiple media forms using gamification, immersion, automation, and decentralization.
It’s not a surprise that several brands have turned to Web3 via NFTs to generate customer excitement, hype, and loyalty.
Pepsi and Coke have released their NFT collections, as Starbucks has also been selling its caffeine-lovers. Nike released its CryptoKicks Dunk Genesis as the first series of NFT shoes. Adidas launched its NFT collection with the promise to be “able to purchase special merch drops” and to help “shape what kinds of products and experiences the company puts together for its own community.” It was an instant success, with Adidas making $23 million off the initial NFT drop.
What about companies with big IPs? The Walt Disney Company, in collaboration with Dapper Labs, entered the NFT space with the launch of its digital NFT pins via the Disney Pinnacle Platform. The launch included a mobile-native platform built on the Flow Blockchain with collectibles based on Disney, Pixar, and Star Wars characters.
Fortnite, one of the largest first-person shooter games, also released its Invincible IP, including skins for invincible characters. Ubisoft’s new RPG game, Champion Tactics, is the company’s first game with NFTs at its core. Built on the Oasys blockchain, it will be a player-versus-player tactical RPG where players can buy and sell in-game assets.
Bringing IPs to the Blockchain
While it may sound cliche, Web3 thrives first on community, or otherwise what is known as brand association. Then secondly, it bridges technology with the real world. Digital collectibles, artworks, and virtual and real-life experiences are coveted by consumers looking for ways to engage their favorite brands and companies.
Christiaan Eisberg is the CEO of STR8FIRE, an IP-based Web3 entertainment company at the forefront of bridging IPs of the two iterations of the internet. The company integrates the best Web2 IPs by bringing them to the blockchain.
By bringing these IPs into Web3, STR8FIRE expands them into a web of interconnected narratives across multiple media formats, including animations, comics, games, toys, and music. This is done using Epic’s Unreal Engine and Nvidia’s Omniverse platform.
“The highly controlled world of IP development, which is dominated by streaming platforms and entertainment conglomerates, caters to the happy few. Consequently, even mainstream Hollywood creatives find it harder to reach and maintain audiences and raise capital to bring their ideas to the world stage,” Eisberg said.
He added: “Web3 has the power to change this; through community participation and our IP development fund, we can create new and exciting IPs. Utilizing our $STR8X token, our games, and IP-based NFT collections help us bridge the worlds of Web2 and Web3 so our community can reap the financial benefits from the success of our IPs in the short- and long run.”
The company is expanding VIRUS, a Sci-Fi animation they co-developed with China’s largest animation studio, Bilibili, into a toy collection, mobile game, and NFT collection.
As technology improves, IPs in the Web3 era will require companies to be informed and adaptable to new trends. Merging the best of Web2 with Web3 can only yield positive results. What STR8FIRE offers is an ecosystem that can integrate several formats to portray an IP. Branded Web3 experiences like this are the current meta because they are a win-win for companies and fans.
