🎥 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.

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

💌 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

NFTs and virtual assets in the metaverse are on a roll, and the United States is leading the charge. Here are some current and projected numbers (Source):

• Revenue in the metaverse virtual assets segment is projected to reach $0.98B in 2023, with a CAGR 2023-30 of 16.11% resulting in a projected market volume of $2.78B and 3.4 million users by 2030.

• With a projected market volume of $977.20M in 2023, most revenue is generated in the US.

• The US is expected to be the largest contributor, with an average revenue per user (ARPU) of US$0.32K.

📫 News & trends

📈 In a boost for the 'metaverse,' Roblox stock pops 25% after strong Q4 earnings

Roblox, the well-known gaming platform, has seen a 25% boost in its stock price following the announcement of its fourth-quarter results. It is particularly popular with younger generations who enjoy dabbling in various activities available on the platform while socializing with fellow players. Roblox has reported a 19% year-over-year growth in average daily active users (DAUs) as well as a 17% YoY increase in bookings.

The company has adopted a strategy to attract more teenagers and young adults, which could potentially result in increased expenditure on its virtual currency Robux. Such additional spending could drive the platform's revenue further upward. Additionally, players have been spending more time on Roblox with engaged hours growing by 18% YoY in Q4 and 19% YoY so far this year.

💰Amazon leads Superplastic’s $20M round in new strategic partnership

Amazon has announced a multi-faceted partnership with Superplastic, including a venture capital investment and the development of an animated comedy series. With the investment as part of Superplastic's $20M funding round, Amazon Studios is developing The Janky & Guggimon Show, based on Superplastic’s synthetic celebrity characters.

This is not the first time that Superplastic has collaborated with a major brand; it has previously created NFTs based on its characters in collaboration with Gucci. This partnership with Amazon is an exciting next step for the company as it looks to expand its reach into streaming and entertainment. As this new venture represents a unique opportunity for both companies to leverage their strengths and expertise to create new content for digital audiences, it’s exciting to see how this develops over the coming months and the new offerings borne out of the tie-up.

👜 Birkin bags make the case for tokenizing IP

The significance of intellectual property (IP) and digital assets in web3 and metaverse strategies was emphasized in a recent case between Hermès International SA and digital artist Mason Rothschild over the sale of MetaBirkin NFTs, where the jury ruled in favor of Hermès and awarded the company $133,000 in damages. Some fine points of this landmark case:

• The jury found that Rothschild's NFTs were not protected speech under the First Amendment, a decision that could influence pending and future NFT cases that test the line between art and consumer products. Rothschild had argued that his NFTs were works of art protected by the First Amendment.

• Physical Birkin bags range in price from $12,000 to close to $200,000. Rothschild first sold the NFTs for around $450 each, but their resale value skyrocketed to tens of thousands of dollars.

• Although NFTs have existed since 2014, they gained mainstream attention only in 2021, with companies increasingly incorporating them into their digital strategies, which underscores the importance of IP protection.

📌 From multiplayer VR to mind-bending art, immersive entertainment rules in North Texas

The Dallas-Fort Worth area in Texas has become a major hub for immersive entertainment experiences, offering a range of innovative concepts for visitors to enjoy. From virtual reality gaming to augmented reality attractions, the region has become renowned for its cutting-edge offerings that include:

• Cosm and its "shared reality" entertainment venue in Grandscape, The Colony

• Meow Wolf, renowned for its eccentric art installations, with its 40k sq.ft. space at Grapevine Mills mall, showcasing never-seen-before immersive art by local artists

• Sandbox VR opening in Dallas & Fort Worth, allowing up to six players to explore the "most immersive full-body VR" and take part in six interactive games

• Two Bit Circus as a micro-amusement park offering tech-enhanced entertainment

• Electric Gamebox offering hyper-immersive gaming experiences in digital smart rooms

• Puttshack, a neon-lit, tech-infused mini golf experience

• Soccer fanatics can look forward to TOCA Social's arrival in the Dallas Design District in 2023

📲 Unlocking a new reality: Your guide to developing metaverse social media platform

The metaverse is a buzzword in the tech industry and businesses are probing ways to utilize this technology to mount exceptional consumer experiences. Metaverse social media is a digital platform that uses VR and other tools to let users have conversations with each other in a virtual atmosphere. Consider these four elements when developing a metaverse social media platform:

• Content is king in engaging experience for users

• Networking tools help users connect with one another

• Security and privacy are essential for protecting user data and creating a safe environment

It's possible that more businesses will start to explore the possibilities of this technology to develop distinctive consumer experiences as the metaverse's underlying technology continues to advance. Already, a number of well-known corporations are making investments in the metaverse, including Epic Games, the maker of Fortnite, and Facebook, which just changed its name to Meta.

😺Cool Cats rebrands as a multigenerational entertainment group

Cool Cats, one of the OGs of profile picture NFT projects, has announced a rebranding effort, including plans for a new collection titled Explorers. The goal: to appeal to a wider range of people and age groups. This rebranding effort will bring about a complimentary Fracture token for Cool Cats and Cool Pets holders. The Explorers collection will be "utility first" with many exclusive features and is touted to have a low barrier to entry so anybody can take part.

Cool Cats' rebranding and the Explorers collection are deemed a way of acknowledging the need to stay ahead in the quickly changing NFT industry. By engaging more people and having utility-focused collections, the intent is to stay competitive in the cutthroat field.

🧐 Tech-driven marketing strategies pick up as AR/VR and AI become more accessible

In the digital age, marketers are constantly looking for innovative ways to stand out in a crowded marketplace. As a result, more and more marketers are experimenting with tech-driven marketing efforts to reach younger generations. One of these technologies that marketers pour their thinking and investment dollars into is augmented and virtual reality (AR and VR) for immersive and interactive experiences that engage customers in ways that traditional advertising cannot.

Artificial intelligence (AI) is another technology that marketers are exploring, allowing them to analyze large amounts of data and create personalized marketing campaigns tailored to individual customers. This approach enables marketers to reach the right person with the right message at the right time.

🏃‍♂️Quick hits

• Miley Cyrus has filed two trademark applications with the USPTO for “Miley” and “Miley Cyrus,” hinting at plans for NFTs, virtual currency, clothing, and footwear.

• The Swatch Group has applied for a trademark to protect its MoonSwatches as downloadable virtual goods, works of art for use online and in online virtual worlds, and downloadable digital files authenticated by NFTs.

• Is mainstream media capturing the unraveling drama around Paxos and BUSD? Or is the coverage favoring the stance of the SEC, which believes the stablecoin to be a “security” and has ordered the firm to halt the minting of new tokens, lacking in accuracy or completeness?

• Publishers need to stay abreast of the latest trends and harness shared viewing experiences, short-form content, virtual influencers, and new advertising approaches to gain competitive advantage and engage target audiences.

• Amid the UAE making strides in the metaverse, Majid Al Futtaim has announced the launch of the Mall of the Metaverse, a virtual mall with a wealth of retail, entertainment, and leisure offerings.

• The American Metaverse Awards is celebrating achievements in the metaverse ecosystem with categories including Most Exciting Metaverse Startup and Top Corporate Brand at a live event in March 2023.

💸 Finance buzz

• HYBE just became the top shareholder of SM Entertainment, a prime metaverse mover in South Korea’s entertainment, acquiring 14.8% of the company's shares worth KRW 422.8B. (Source)

• Liquid Avatar Technologies, through its subsidiary Aftermath Islands Metaverse, developed AI-powered Non-Player Characters (NPCs) avatars that are subject matter experts for the metaverse and will offer 24/7 service, education, and e-commerce to create new engagement and revenue prospects. (Source)

• Thai property developer MQDC is creating a revolutionary metaverse called MQDC Idyllias, aimed to bridge the gap between reality and the virtual world and offer users meaningful experiences, virtual property, AI healthcare, direct-to-avatar commerce, and gamification as it launches in 2024. (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.