Idol Entertainment & Fan Economy: Mass Adoption Through Web2+Web3 - TOKEN2049 Singapore 2024

hello everybody I'm very excited to be here my name is Kai uh I'm the CEO of uh meet 48 so uh we are not in infrastructure we're not in dii we are in entertainment and we want to make web 3 fun and you know a lot of people are talking about Mass adoption in web 3 and for us Mass adoption is about bringing a fan base from web 2 to web 3 and combining the two so what is me 48 what do we do let's actually watch a video [Music] all right so uh there was a lot of content in that video so it's because we do actually quite a lot uh we are one of China's largest entertainment companies in web 2 making that transition now into web 3 uh and some of the things that we do is live entertainment and performances uh we have been working with the snh48 auto group for over 10 years now doing the large scale live performances and events also talent management and Idol cultivation is something else that we were working on for the last 10 years where we manag over 300 performing talents game development and operations you know we operated one of the most popular social games in the Chinese market audition film and TV production you know we produce and invest in some of the largest sea dramas that are for streaming OT platforms like tensent I yuku and Netflix and fan Community monetization now this is really the bread and butter of our web 2 business where we generate over $250 million a year and we are looking to bring all of that into web three so meet 48 we are an idle cultivation and development platform now what do I mean by that is now you might be familiar with Idol cultivation now there it's the process where you identify people with talent and then you train them to become performing Idols now we are taking that entire model all the training courses and we're putting that onto web 3 so that anybody with the dream of becoming an idol will have the opportunity to train themselves upload their training video as content onto our platform for the fan Community to watch and vote on fan Community engagement and monetization like that like I said uh our voting events are currently taken about $30 million per event and we have five large voting events a year and once again we are providing uh new tools so that the fan Community will be able to make those decisions through web 3 on our dab and that they would take over the role of the management company so that we could give the control of the idols to the fans virtual aidol creation performance now we have created an virtual idle development kit an AI tool that will allow users to to create their own virtual Idols integration of Live Events media entertainment and web 2 is where we are currently partnering with some of the largest media companies in East Asia and Southeast Asia to produce content that will integrate web 2 with web 3 for streaming in mainstream media a multiplatform auto entertainment ecosystem is something that we're creating uh in conjunction uh with various different platforms to spread uh the idea of idle entertainment now we have been doing this for about a year and a year and a half and we've identified some of the hurdles currently uh that we face in web 3 for example user Behavior now people talk about you know transitioning users from web 2 to web 3 and the difficulties involved and for us it's really about uh keeping user behavior um as uh original as possible so that the transition isn't a huge step for us that means customizing the experience and releasing new functionality as modules content Supply now there is a lack of content right now in web 3 and uh we are remedying that through incentivized interactions and ugc and like I said the entire process of a cultivation will be creating new content for the user base to consume media reach uh it's very important for web 3 to reach out to uh the greater public and by creating new media experiences ones that would combine web 2 with web 3 we will be able to reach a larger audience and real user demand now we believe that real user demand involves real user interactions and for us that's by having sustainable events through idle cultivation now you might be asking yourself how receptive are people of idol cultivation in web 3 so we held a trial voting event on open BNB just last August and uh we had a total active user uh onchain addresses of 77,000 with a single day Peak at 53 7,000 which is 11 times the social category so there's definitely interest from the fan Community to be a part of uh the web 3 community and transactions for a 30-day period it was a total of 33.2 4 million with single day Peak at 2.82 million transactions which is 18 times the average for all social categories and we did pretty well on D was number one and also we did pretty well for um overall number two on B&B chain so there is definitely user interest but you might be asking yourself what are these large idle voting events so here's a quick short video of what those are [Music] like so these are the events that we hold and uh starting next year on August 2nd we will be holding the largest uh Idol cultivation voting event in Hong Kong along with the five currently already established Idol voting events uh that's already a part of the snh48 brand and now with virtual Idols uh we have created an AI model that allows the user to create their own virtual idols and also another [Music] [Applause] [Music] video the way [Music] so that's a virtual Idol concert it's something that we worked on in collaboration with the snh48 group and right now what we're uh making it possible is for users to create their own virtual Idols by taking pictures of themselves on their phone and then they will be able to actually partner up with different users from around the world to create their own virtual Idol group and then make their own virtual Idol concert and through that know we will allow users to create their own virtual Idols they'll be able to interact uh to create interactive virtual Idol performances there will be IP licens virtual companions which is something else that we're currently working with snh48 group and through our llm you'll be able to create songs and dances through text prompts as well as uh there will be virtual performance competitions and shows which we are creating with uh the large media companies in Southeast Asia and there will be incentivized Idol content creation and the communities that create Idols that generate Revenue they will have ownership of those idle IPS and lastly we are also on the ton network uh ton is a great way for us to reach into markets that we wouldn't necessarily have regular access to and also it's a great way for us to create mini games that revolve around idle cultivation and how management talent management companies work and uh we are actually doing some very exciting things uh in the next few months so you guys should really you know uh keep an eye out for us thank you very much