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Hello Pets team is building an open entertainment ecosystem where the community can join in the storytelling and art creation of shared IPs. Starting from their own adorable pet characters, Hello Pets also actively incorporate external NFT characters into their story and invite the holders and communities to create amazing content together. The Hello Pets team believes this is a paradigm shift that can fully unleash the potential of the community. Their ultimate goal is to be the next Disney in Web3.
How will Web3 Revolutionize the Entertainment Industry?
In the traditional entertainment world, when an artist wants to incorporate well-known IPs (e.g. the classic characters from Disney, Nintendo, and Marvel) into her new story, she has to pay a heavy IP authorization fee and dedicate a significant amount of time communicating, negotiating, and signing contracts with the companies who own the IPs.
However, in the NFT world, in most cases all she needs to do is to purchase an NFT. Then she can use the characters freely to create derivative works and integrate it into her own brand to create additional value. This is a win-win situation for both parties. Firstly, she can use the IP to add content and fun to her brand; secondly, she can attract the fans of this IP to become aware of her brand, bringing her a larger audience; thirdly, the derivative works she created also increase the exposure of this IP and thus increase its value.
Therefore, Hello Pets team decides to take the opportunity of the new IP licensing mechanism of the NFT world, and build the entertainment ecosystem of the future.
Starting the journey with Adorable Pet Characters
Hello Pets aim to reach the mainstream market and build a recognizable web3 brand through their core characters. Adorable pets are universally loved by people of all ages and backgrounds, and bring people a lot of joy in life. With this in mind, they design a set of pet characters that are able to emotionally connect with people, and are easy to use for creating derivative works in many forms of art.
Incorporating External NFT Characters into Hello Pets World
Hello Pets go a step beyond traditional entertainment companies by taking advantage of the efficient IP licensing mechanism in the NFT world. They can easily integrate the characters from external NFT collections by holding them and inviting their holders to participate in the content creation of Hello Pets world.
Covering Both Digital and Physical Worlds
By leveraging the latest technologies of game engines, AI, Augmented Reality, Virtual Reality, 3D printing and many more, the products of Hello Pets will not only cover digital applications like movies, games, metaverse, music, and more, but also extend to physical applications like lego-like toys, fashion products, home decor and many others.
Unleashing the Creative Power of the Community
Another thing that sets Hello Pets apart from traditional entertainment companies is that the content is not only created by the team, but also by the community and the masses.
The team believes that a single content-producing company cannot compete with those that fully utilize the collective power of the community, because the creativity of the masses is infinite. In their opinion, the next ‘Disney’ should be a decentralized entertainment ecosystem where the community participates in the storytelling, and they believe that now is the beginning of the revolution. So the team is working to create a world where the art is created by the community, for the community, and the value generated is shared among the participants in the ecosystem.
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Source: https://news.bitcoin.com/hello-pets-depict-an-open-entertainment-ecosystem-and-aim-to-be-the-next-disney-in-web3/