This year, Asia’s leading crypto conference, Token2049, has attracted over 7000 participants, 250 exhibitors, and 200 presenters. Preceding the F1 Singapore Grand Prix weekend, Token2049 Singapore will take place at Marina Bay Sands and addresses a variety of key topics in the blockchain and crypto space such as DeFi, crypto regulation, Web 3.0, global macro strategies, data privacy, and others.
The event features a number of well-known speakers, including Pantera Capital CEO Tom Morehead, Galaxy CEO Mike Novogratz, co-founder and COO of Axie Infinity Aleksander Leonard Larsen, CEO of Crypto.com, the CEOs of the EOS Network Foundation and the Algorand Foundation, among many others.
PlayMining, a creative IP platform, is set to exhibit its Web3 IP monetization platform to shed light on the difficulties that the creative industry faces and to highlight PlayMining’s revolutionary solutions.
Naohito Yoshida, the co-CEO and co-founder of Digital Entertainment Asset (DEA), the company behind PlayMining, has pointed out that creative IP monetization can be much better improved when it is transparently and fairly managed on the blockchain. PlayMining is currently in the process of securing Series A funding, led by Yoshida who is a serial entrepreneur with three decades of experience and has previously conducted IPOs for three distinct companies.
PlayMining’s Chief Strategy Officer in charge of Global Business, Tatsuya Kohrogi, will speak at Token2049 on September 29. His presentation ‘PlayMining: Disrupting the Creative Industry depicts the major problem in the creative IP industry as well as PlayMining’s innovative strategy for tackling it. In addition to unveiling new game titles, they will also introduce the PlayMining ecosystem and identify stakeholders, using the PlayMining concept to demonstrate how social impact can be achieved.
Kohrogi contends that as a Web3 platform, PlayMining is “an ideal place for third-party development studios to launch new IPs because they don’t get locked into a vicious cycle of distribution platforms who take an exorbitant cut of their money. It’s a much fairer playing field.”
As an example of value loss in the creative IP industry, Kohrogi cites the Apple App Store that takes up to 30 percent cut on every transaction, while sites like Facebook and Instagram pay nothing to content creators on their platforms. “Compare this to OpenSea, which only charges creators a meager 2.5 percent fee on every sale, and the difference is night and day,” comments Kohrogi.
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How PlayMining Revolutionizes the Creative IP Industry
Kozo Yamada, DEA’s other co-CEO and co-founder, is an NFT gaming expert with over 15 years of experience in video production for television. He has commented that:
“The IP creation industry has a real dark side in that the production house, distributors and other primary stakeholders tend to capture nearly all of the value. The artists and other creators earn very little, comparatively. We aim to change that.”
Once a creative company creates a successful video game, comic book series, animation series, etc., it should be able to diversify its intellectual property (IP) into many income streams. Popular video game characters, for example, might appear in products, comic books, television series, or NFT artwork.
PlayMining wants to empower the creators and designs their Web3 platform for IP monetization. They pay royalties to artists who make both official and fan art in order to guarantee that artists are adequately rewarded for the value they generate. Their NFT marketplace is integrated with PlayMining’s own $DEAPcoin token, Japan’s first and only (currently) P2E token approved by the Financial Service Agency, and has so far hosted artworks from over 100 creators, including big names in the Japanese animation and video game scenes like the creators of Fairy Tale, Dragon Quest, and Final Fantasy. Over SG$9 million in royalties has been paid to creators to date.
The company’s NFT gaming platform, which already hosts popular in-house games Job Tribes and Cookin’ Burger, will include third-party games with their own tokens, enabling such studios to essentially capture all of the value they generate. Dragon Ramen is one of the much-awaited third-party games that will debut in October. Graffiti Racer and Lucky Farmer are two more popular games that will be released this year.