Media super powers have historically been extremely possessive of their IP. But the explosion of popular NFT collections like CryptoPunks and Bored Ape Yacht Club (BAYC) introduced a new model of IP ownership that allows community members to create and monetize ancillary storylines. This model is proving extremely powerful – building decades’ worth of brand loyalty in weeks or months – because fans have a real stake in amplifying a brand’s value.
IP development group Pixel Vault exemplifies the seemingly endless potential of NFTs. Its first project, PUNKS Comic, features an original storyline for 16 characters (PUNKS) based on 16 fractionalized CryptoPunks. By expanding IP ownership so that participants can build value for themselves while boosting the entire project, Pixel Vault is fostering a next-gen community of committed fans.
In the days leading up to its collaboration with BAYC and Adidas, Pixel Vault founder Sean Gearin told Chainlink Labs’ Andy Boyan that the ultimate goal is “building out a Marvel 3.0, a Marvel for the metaverse” through a collection of “carefully curated and interwoven” IPs.
Pixel Vault artist Chris Wahl, who’s worked for Marvel and DC Comics, said his involvement in Pixel Vault’s PUNKS Comic and its follow-up collection, MetaHero Universe, has been life-changing. Last month, Gearin told Chainlink Today that Chainlink VRF is key to distributing MetaHero Universe’s reward NFTs in a way that’s provably fair and verifiable by the community.
In addition to broadening access to high-value NFTs, Pixel Vault incorporates a variety of incentive mechanisms and decision points that cultivate a continuously active and engaged ecosystem. “Your collection will very much be a reflection of who you are, your preferences, your thought processes,” he told Boyan.
Gearin said collaborating with big players in the entertainment space to create spinoffs that non-crypto natives will appreciate, such as animated series, is a compelling way to onboard new enthusiasts to the NFT world. And there’s no shortage of band interest.
“There is a genuine desire to get out in front of this,” he said. “Nobody wants to be the next Blockbuster being completely uprooted by Netflix.”
Watch Sean Gearin’s full conversation with Andy Boyan on Chainlink Live.