We're sure many of you will agree to the aforementioned statement. That being said, as a result, we often imagine what our lives could have been. We fantasize and we dream.
As the physical world limits what we can do, our wild ideas often get materialized into lesser forms - movies, video games, comics, theme parks and so on.
As a result, the emergence of IP franchise that materialize said ideas came to life with the help of companies such as Disney, Marvel/DC, Pixar, Universal and many more. These companies were able to let people experience their fantasies with the many IPs they created, each symbolizing their own idea form, allowing people to relate with whichever character they want to relate with the most.
Nevertheless, with the ever-expanding, continuous advancements in technology, this idealogy of fantasy-driven franchising and franchising as a whole in itself is now able to shift more and more into the first-hand experience factor. From watching the characters in action in movies, to cosplaying, to AR and VR and eventually the whole metaverse experience.
We think that this shift in technological advancements for franchising will signficantly benefit from Web3's fundamentals, given that blockchain gives the meaning of true ownership to digital citizens and enable key components of digital society to work - interoperable worlds, organizational ruling and economies.
The foundation of such a technology is currently (in our opinion) still generally lackluster. There is a lack of high-quality content and blockchain-native IPs that are available to the public even today at the most basic form (such as games).
We are taking our first step to build this vision today. We aim to lead the Web3 entertainment by creating high quality blockchain-native IP franchises that can capture the imagination of hundreds, thousands or even millions of people. With Web3 and the bright future of its technology, who knows what good things lie ahead?
As mentioned above, Web3 enables a lot of possibilities with true ownership, digital citizenship and enabling key components of digital society to work. That's only a portion of why Web3 is significantly more advanced than the Web1 and Web2 space when developing franchises.
A more business-oriented reasoning of why we chose Web3 can be considered quite disputive, but it still remains true nevertheless. To illustrate it at a more basic approach without the need of much business jargon, imagine the following:
Now, the quote block above might be quite exaggerating for the most part. But, realistically, such a scenario is moreso likely than you might think, especially in for-profit organizations (essentially 99% of franchise companies). Two major points arose from that snippet, namely shareholder greed and possibilities of being sued. There are still many other points such as shelving, ridiculous fees (subscriptions, tickets etc.) that we possibly can't cover purely in a single page alone. However, this goes to show the strong negatives that traditional franchising has. Let alone the fact that you don't truly own something you purchased in real life from these companies; they still own it and the ownership doesn't get titled to you. Web3, however, enables such possibilities. Decentralization, digital and true ownership are all common terms you hear in this space, and it just makes the future of franchising ever so brighter.