🎥 Metaproof Media, Entertainment, IP

Hey friends, this is Sophia from 🎥 Metaproof Media, Entertainment, IP, the weekly newsletter where we keep you informed on how the metaverse and web3 are changing the media, entertainment, and IP industry.

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💌 A quick thanks to our friends…

Shout out to this week’s sponsor CyberBrokers. A project with futuristic, cyberpunk art and immersive storytelling, CyberBrokers tells an exciting story that takes users through the world of the Paradigm Lost. Create, collect, game, and experience in this journey that brings the metaverse to life. Expand your reality today and go explore the Paradigm Lost. Check them out here!

📲 By the numbers

• According to a recent survey conducted by CoinWire in December 2022, surveying over 10,000 investors in the crypto space, a majority of respondents believe that the metaverse will have a significant impact on various aspects of social life (Source):

- 69% of respondents think it will change the way we entertain ourselves

- 65% believe it will change the way we socialize

- 61.2% think it will impact financial systems

• As the world shifts to digital reality, interest in the metaverse is climbing worldwide. According to an industry market report, 52% of global Internet users already join the metaverse for work while 48% use it for art and entertainment purposes. (Source)

• The global metaverse in the entertainment industry is estimated to generate $13.8B in 2021 and $221.7B by 2031, witnessing a CAGR of 32.3% from 2022 to 2031. (Source)

📫 News & trends

💸 Web3 brand Doodles buys ‘Rick & Morty’, Disney animation collaborator Golden Wolf

Web3 media and entertainment powerhouse Doodles is set to acquire transatlantic animation studio Golden Wolf, known to produce ancillary content for Adult Swim animated series Rick & Morty and make content for Disney, Illumination, Nike, and Facebook. Doodles started out as a series of digital collectibles based on characters created by artist Burnt Toast (real name Scott Martin) in October 2021.

The deal is reported to close in the next few weeks, with the following facts revealed at this point:

• Golden Wolf’s team will Join Doodles, with CEO and founder Ingi Erlingsson becoming Doodles’ chief content officer but will continue to oversee and operate Golden Wolf’s offices in London and New York

• As part of the deal, Psyop will invest in Doodles, which counts Pharrell Williams on its board

• An early project will see Burnt Toast and Golden Wolf collaborate on “original narrative content” and development of the Doodles characters and story, which potentially comprises original series, video games, and product marketing assets

Doodles has transformed into a franchise of animation, gaming, merchandise, music, and live events, with an apparent bid toward original content with this new acquisition.

🔥 Amazon NFT initiative coming soon: Exclusive

Amazon is launching a digital assets enterprise, with an NFT initiative expected in the spring. The company is reportedly shopping the effort to power players in the industry, such as layer-1 blockchains, blockchain-based gaming startups and developers, and digital asset exchanges.

In addition to its NFT efforts, Amazon is also said to be exploring other web3 initiatives, including certain NFT gaming initiatives, and is set to run out of Amazon proper rather than its popular web-hosting platform, Amazon Web Services (AWS). The company has been reaching out to family offices in recent months, and is expected to make its crypto ambitions public in April.

However, it is unclear who is leading Amazon’s NFT initiative and the full extent of Amazon’s web3 ambitions and end goals. Additionally, it remains uncertain whether Amazon intends to compete with existing NFT marketplaces, such as OpenSea and Rarible.

🍪 Martha Stewart makes metaverse debut with Oreo

Mondelēz International brand Oreo is celebrating the release of its limited-edition cookie, “The Most Oreo Oreo,” with a metaverse activation and a tie-up with no less than celebrity chef Martha Stewart.

Created within Meta’s Horizon Worlds, “Oreoverse'' invites users to explore the Oreo-themed realm and play mini-games for the chance to win prizes that include a $50,000 grand prize. On January 30 - the same day the limited-edition cookie will hit the stores. Stewart will livestream herself exploring the OreoVerse on the brand’s Instagram and Facebook channels, and consumers can watch the livestream.

Oreo’s latest move emerges as a ploy for Gen Z’s attention, though it also boasts a partnership with Martha Stewart that could prove beneficial in attracting older audiences.

📱 Instagram adds dynamic profile photos which can be flipped to show your Meta avatar

Avatars are becoming a more prominent feature in the digital world. Virtual reality company Meta is looking to merge users into its metaverse experience by promoting the use of avatars. Interestingly, its social media platform Instagram has recently added a feature that allows users to add an alternative avatar profile photo.

As younger web users become more accustomed to interacting via avatars in game worlds, this trend is likely to continue as they grow up. It’s worth noting, though, that not everyone may be comfortable with using avatars as a form of digital identity, and it remains to be seen how many people will take up the option of adding an avatar profile photo.

Avatars are becoming an increasingly prevalent aspect of our online experience, so it will be interesting to see how they continue to evolve and become integrated into our digital lives.

📰 Will the Associated Press and NatGeo’s new NFT marketplaces meet the same fate as other media publishers?

The Associated Press (AP) has announced that it would soon be launching an NFT marketplace that will house the news agency’s award-winning contemporary and historic photojournalism. Both the marketplace and the initial NFT collection are expected to debut on January 31, featuring photography by current and former AP photojournalists alongside Pulitzer Prize-winning AP images on space, climate, and war.

The upcoming marketplace offers an interesting question as to whether other photojournalism platforms, including Getty, should start to think about dipping their toes into web3. The latest move follows failed attempts by other media publishers to keep their web3 forays alive.

When CNN abruptly ended its Vault by CNN NFT marketplace October last year, collectors throughout the web3 community were justifiably angry as the project came to a halting end after just one year. Out of tens of thousands of dollars and no specific reason for the marketplace’s shocking announcement, Vault by CNN collectors started to accuse the broadcast giant of a “rug pull.”

Other media outlets such as Quartz, The New York Times, and CoinTelegraph have dipped their toes into web3 through selling copies of their editorial articles as NFTs.

🍎 Apple teases Reality Pro specs, Disney partnership

As the virtual reality market continues to evolve, tech giant Apple Inc has announced plans to launch a VR content platform for its upcoming mixed reality (MR) headset. The platform, which is set to debut in spring 2023, will be developed in partnership with media companies such as the Walt Disney Company.

This move comes on the heels of Sony's recent announcement that it will debut its PlayStation VR (PSVR) 2 in early 2023. Walt Disney, too, has been embracing VR, partnering with Snap for immersive tools for its product lineups.

While the VR market is certainly heating up, some critics have raised concerns about the cost of Apple's MR headset. The device is expected to retail for $3,000, which is double the price of Meta's Quest Pro and over three times the cost of the Pico Interactive 4 Enterprise. There have also been reports of delays in the release of the headset due to hardware and software issues.

Despite these concerns, many industry experts are excited about the potential of Apple's VR content platform, and the partnership with media companies like Disney is seen as a major win for the tech giant. Only time will tell if the high price point and potential delays will hinder the success of the device in the competitive VR market.

🍾 Irish Distillers files NFT patent to launch virtual bars – Jameson in metaverse

Irish Distillers International, the parent company of luxury whiskey brand Jameson, has filed a trademark application with the United States Patents and Trademark Office related to the metaverse and NFTs.

The company plans to set up an online marketplace for virtual goods, blockchain tokens, digital tokens, NFTs, digital media, digital files, and digital assets. Additionally, it intends to offer entertainment services such as actual and virtual workshops, education demonstrations, and short courses in mixology and alcoholic beverages.

While Irish Distillers is not the first alcoholic brand to file for a trademark related to NFTs and the metaverse, the company's plans may face resistance from regulatory authorities. Apart from potential regulatory issues, the jury is still out on how the industry will adapt to the integration of blockchain technology and NFTs in the alcohol market.

📺 You can now join the metaverse via TV: Meet METASMART TV by Gazer

One click and you’re in the metaverse - this is the promise behind a company’s newest release. Gazer Electronics has launched a new product called the METASMART TV, which allows users to access the metaverse through their TV screen. The TV has been designed with advanced technology, including cloud technology and streaming capabilities, to ensure a quick and seamless connection and high-quality visuals, according to its press release. It also integrates with OpenSea, which enables users to purchase and display NFTs on their TV screen. This revolutionary device promises to enhance the metaverse experience for users.

👍 Utherverse CEO Brian Shuster granted seven new patents for metaverse development and operation

Brian Shuster, founder and CEO of metaverse platform Utherverse, has been granted seven new patents for technologies meant to enhance the metaverse experience. The new technologies will start to be deployed in his next-generation platform due to launch by middle of the year. Utherverse’s mountain of intellectual property seeks to tackle a range of problems and vulnerabilities within metaverse platforms, including the physics of movement, immersive displays, and physical interaction between users and animation control. The new patents span the three key metaverse pillars of software, hardware, and remote touch; solve “inherent and significant problems” in operating metaverse platforms; and help improve users’ ability to thrive in hyper-realistic virtual worlds, noted Shuster, who now holds over 100 patents for internet-related technologies.

📣 SBS announces plans for K-pop girl group audition program ‘Universe Ticket’

The upcoming K-pop girl group audition program Universe Ticket will feature 82 female trainees competing for a spot in an eight-member K-pop idol group. This program, produced by the creator of hit SBS variety show Running Man and the boy group audition program Loud, will focus on a voting system where the trainees themselves cast votes. This unique voting system is expected to bring a new level of excitement to the program, created to make the viewers judge the trainees not based on their skills formed over short-term intense training, but with fundamental skills and through focusing on the trainees' “real personality, teamwork, and diligence." The winning girl group will not only debut in the real world but also in the metaverse, marking a new step in the entertainment industry of the metaverse-savvy country.

📱 Metadream launches Bondee, a next-gen social app

Singapore-based tech startup Metadream has recently launched a new social app called Bondee, currently well-received and has become the #1 free app in the App Store. Bondee allows users to create avatars and share their activities with friends, making it unique in the social app space. Users can express themselves by sharing their mood and status, whether they’re spending precious “me” time or cuddling with a pet. Bondee also allows users to personalize their space, visit friends, and post comments as if they were actually living with them. Metadream acquired the rights to another app, True.ly, in May 2022 and transformed it into Bondee. It also established three data centers in Singapore, Japan, and the United States in a bid to guarantee the security of users' data.

💢 Metaverse catching up to smartphones, says Meta head of product

Chris Cox, the head of product at Meta, has highlighted the metaverse’s potential to be as important as smartphones. At the World Economic Forum in Davos, Cox deems today’s internet as a model for a working metaverse. He said: “I think the Internet is a very good way of thinking about the metaverse, because some parts of the Internet are very coherent with each other.”

However, the technology is currently lacking in certain areas that need to be addressed for it to fully reach its potential. This includes making the metaverse more accessible and user-friendly, as well as ensuring interoperability between different virtual worlds. Experts are also calling for the creation of rules and standards for an open metaverse, in order to make it more accessible, interoperable, and open for all users.

🧐 How the metaverse will impact PR and communications

As the metaverse continues to grow in popularity and significance, PR professionals must adapt to the new opportunities and challenges that come with this digital realm. There will be an increase in demand for PR services as companies and organizations establish a presence in virtual worlds and require assistance in communicating with their audiences. Media outlets and PR agencies will also have to establish a presence in the metaverse to stay relevant, as the space offers novel opportunities for personalized content and advanced PR tools. Offline PR, however, will likely preserve its important role, albeit likely to be transformed by the impact of the metaverse.

🎙️ Revolutionary augmented reality concert experience unveiled by tagSpace for upcoming TV series ‘Melody’

Australian tech firm tagSpace will support Warner Music Group and Trinity Entertainment in the upcoming release of the Spanish-language, young adult musical series Melody, premiering February 22 on Amazon Prime. At the show's launch event in Miami, tagSpace CEO and founder Paul Martin will demonstrate how AR is changing the way people consume digital content and promote entertainment properties through immersive experiences that play out in real-world environments.

Within the tagSpace mobile app, fans will get to have a front-row seat at a Melody concert, with 3D digital-scanned avatars of the show's stars Melody and Layla performing their duet "Without You."

The Melody Augmented Reality zone is free to download anywhere in the world and will be part of a social media campaign that encourages fans to interact, film, and share their Melody concert experience with friends.

💸 Finance buzz

• Web3 media and entertainment powerhouse Doodles is acquiring transatlantic animation studio Golden Wolf - known to produce ancillary content for Adult Swim animated series Rick & Morty and make content for Disney, Illumination, Nike, and Facebook - in an apparent bid for original content. (Source)

🗣️ Quote of the week

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All content on this newsletter is for informational purposes only and does not aim to serve as or replace expert investment advice.

If you are a startup building in the metaverse / web3 ecosystem and are raising capital, please reach out to Sfermion. Sfermion is an investment firm focused on accelerating the emergence of the metaverse.

Stay informed via our Twitter and Subscribe here to get your metaverse media, entertainment, IP news every Friday.