Fan economy on the left and AI on the right, MEET48's path to building a Web5 (Web2+Web3) ecosystem

From being very popular to having few doors, the Metaverse business is experiencing a period of ebb after the capital carnival. However, MEET48, a social Metaverse platform driven by Web3 and AI technology, has become a "crowd", taking advantage of the ebb to collect " Seafood".

Recently, MEET48 has accumulated approximately 2 million new registered wallets in two voting activities, the total number of NFT votes has exceeded 20 million, and the on-chain interactions have exceeded 4 million times. Behind the dazzling data growth, how does MEET48 answer the question of the Metaverse, and what lessons does it have for other Metaverses or Web3 projects that are suffering from growth difficulties? With this question in mind, PANews recently conducted an exclusive interview with Meet48 COO Kai Xu.

The democratization of entertainment, the growth of idols and the mutual achievements of fans

When it comes to the entertainment industry in the Yuanverse circuit, the outside world will naturally think of the many celebrity participants who "brought goods" to the Yuanverse. Examples of cosmic products abound. Although the participation of celebrities has opened up the space for brand marketing to a certain extent, most of the products have gradually disappeared, with almost no one paying attention, and some have even been sent to the dock by investors.

In this regard, Kai Xu bluntly stated in the interview that "stars" are the product of results. "Stars" bring goods to the metaverse or NFT, which is essentially a means of monetizing traffic in the traditional sense. Take "star" NFTs as an example. The value of these NFTs is not equivalent to the brand value of the "star" - people invest in brand endorsement, but after purchasing NFT, the owner cannot really participate in the daily life of the star, or It will affect his future direction. They will eventually realize that the practicality of these NFTs is lacking and there is no liquidity among collectors.

The difference is that MEET48 uses the idol market as the narrative home of its metaverse. "Idols are products that are jointly created by community users and fans, developed over a long period of time, and have community consensus. The process is experience. Users gain experience during the development process, and commercialization is a part of the development system. While participating in idol cultivation, users share the value of idol growth, so idol cultivation and the Web3 consensus mechanism are naturally compatible. "Kai Xu told PANews that on this basis, MEET48 hopes to use AI, Web3 technology and mechanism to create a pan-entertainment platform for idol development and immersive social metaverse, making entertainment more democratized and allowing Web3 to become popular through entertainment applications.

But for MEET48, entering the idol industry also means that it needs to enter a larger user market. You know, for most ordinary users, Web3 technology has a high threshold for experience and participation.

In order to reduce user friction, on the one hand, MEET48 has created a non-inductive entrance. At the infrastructure level, MEET48 has developed the AA wallet built into the Dapp and cooperates with leading infrastructure providers in the Web3 field such as OKX Web3 wallet, thereby providing a more traceless experience for non-encrypted native users. Not only that, TPS capacity and gas fees will also hinder the participation of ordinary users, especially large-scale voting activities. For this reason, Meet48 is actively looking for a main chain that can carry high-frequency transactions and reduce transaction costs for deployment and cooperation.

On the other hand, MEET48 improves user participation driving force. Kai Xu explained that in terms of human nature, money and spirit are the two original driving forces. At present, most Web3 projects rely on the former to drive FOMO, but when the user's income drops or is not guaranteed or even loses, they will immediately Collapse, this is also often referred to as the "death spiral"; therefore, in addition to the basis of money, MEET48 also achieves spiritual drive by establishing emotional bonds between idols and fans. In the MEET48 ecosystem, fans and users not only want to make profits, but also obtain a kind of spiritual satisfaction. When the idols you support continue to grow and achieve achievements, you have fulfilled your core appeal. This is also commonly referred to as "powering up for love." If fans can also share the benefits of their idol's success, it will be a double harvest, which is something that the traditional Web2 model cannot bring.

Combining AI and Web3 gameplay to promote star-making mode and user experience

"MEET48 can give idols and fans users complete control and ownership, so that the development of idols depends on user votes. Support (such as annual idol election, golden song selection, best CP, etc.). Compared with the traditional artist market that relied on certain institutions and resource owners in the past, the introduction of Web3 technology ensures that the election is fair, just and open, and also All participants can share the benefits of idol growth. NFT can gather and mark users with idol cultural consensus, and tokenization can motivate and support participants in the entire ecosystem. These make up for the experience gap of fans in the traditional idol market. The characteristics of Web3 further enhance the development space of the idol market,” Kai Xu introduced to PANews.

Although from the popular trainee system and the numerous talent shows, etc. Look, the traditional star-making model is very mature, but with the rise of emerging technologies such as AI, Web3, and the Metaverse, more and more entertainment industries are integrating with them to promote business upgrades and improve user experience.

As a decentralized, independent and open metaverse idol ecosystem, MEET48 is helping to make idol culture increasingly popular. Currently, MEET48 has formed a rich product matrix. For example, Meet48's AI data model can not only realize the creation, dance choreography and song generation of virtual idols, but users can also use AI tools to create UGC content to lower the creation threshold and achieve profitability; the virtual theater supports users to create real and virtual idols. performances, and provides real-time video streaming and video on demand uploads, and can even use related hardware equipment to realize VR; and MEET48 also introduces various elements such as virtual land, NFT, GameFi and SocialFi into the ecology, among which Pet48 includes pet mode, AI companion and NFT breeding and other functions; virtual land can support users to purchase to build idol cities or other worlds, DAncing supports rhythm games, social DApps and equity competitions; Monster48 supports player battles, collectibles, adventures and other functions, the introduction of these functions has greatly enriched Improve the playability and entertainment of the platform.

In this regard, Kai Xu also added, “We hope to use the power of mass media to promote large-scale adoption of the platform. The bridge between Web2 and Web3 users can be opened through entertainment content. After all, the public can never refuse entertainment. . Therefore, MEET48 will launch a series of GameFi and SocialFi products focusing on music, dance and leisure entertainment, so that more mass users can enter the Metaverse of Meet48 through these products. Currently, MEET48 has cooperated with some large TV stations and streaming media platforms. To produce product-related content. Imagine that users can determine the ranking of a talent show by participating in the game, and their every move in the game can directly affect the final result of the game. This is why we hope to surpass the current encryption community as soon as possible. , bringing more content consumers to Web3. "

In addition, MEET48 has also introduced token economics to further encourage user participation. Its governance token $MEET can be used to purchase NFT, governance and idol voting. Voting will determine the number of resources the idol receives and the voting income. According to MEET48, in the future, it plans to open up the entire ecosystem and users, allowing other suitable projects to access it to obtain $MEET, thereby developing or issuing their own tokens (which can be exchanged with $MEET).

Building Roblox in the entertainment field, the Web3 idol election event is about to begin

According to MEET48’s future plans, MEET48 will launch the second Web3 Idol final election event in June this year , in addition to voting for real idols, voting for virtual idols has also been added, which he believes will bring more user conversions and outstanding results; in terms of business, MEET48 will continue to pay attention to the creation of AI and UGC, and involve users in UGC creation. The threshold is reduced to the lowest, so that everyone can create their own virtual person and turn them into virtual idols.

“For ordinary users, idol creation is out of reach, because the creation of virtual idols is not easy, not to mention the difficulty and cost of content production. There are not even a few companies that can afford virtual idols for a long time. The production and continuous operation of MEET48 will completely subvert all of this. At the same time, MEET48 will also establish a mechanism to support high-quality virtual idols, disseminate high-quality content, and create virtual idol performances.” #Kai Xu also said in the interview that AI will bring an explosion of content created by virtual idols, and the ecology and mechanism of MEET48 will protect the rights and interests of creators and encourage the production of high-quality content, and these high-quality content will bring more More communication and traffic effects, allowing more people to know and join the ecosystem. Of course, MEET48's vision is not limited to virtual idols. It aims to create a more comprehensive and free Web3 entertainment metaverse and become the "Roblox" in the field of Web3+ entertainment.

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