MEET48's gamble and ambition in AI UGC ecology: the business of fan economy

Last year, the economic benefits of Taylor Swift's five US tours were as high as 5 billion US dollars, exceeding the gross domestic product of at least 40 countries in the world. Economists even believe that the benefits of Taylor Swift's concerts in Australia may be comparable to those of an Olympic Games. Therefore, after Taylor announced her Asian tour, some countries and regions in Southeast Asia wanted to compete for the right to host the tour at high prices. Singapore has become the biggest winner of the "monopoly" of Taylor's Southeast Asian concerts, and IP competition has been upgraded from cities to countries.

The reason for this madness is all thanks to the fan economy. Before Singapore, Taylor had toured in the United States, Australia and Japan. Wherever Taylor went, hotels were full, peripheral products were hotly snatched, and consumption data rose rapidly, so that a new term "Swift Economics" was born.

The power of idols has now become a whirlwind that drives consumption, and in the field of encryption, fan economy cannot be ignored either. Asia's largest idol metaverse group MEET48 has accumulated about 2 million newly registered wallets, more than 20 million NFT votes, more than 4 million on-chain interactions in two voting campaigns, and its existing Dapp already has 2 million registered wallets and 50,000 daily active users. Next year, MEET48 will hold the first Web3.0 idol finals in Hong Kong.

MEET48 has a 500-person technical and RD team, covering a regional operating network in Singapore, Hong Kong, Taipei, Tokyo, Seoul and Dubai, and is considered to be the world's largest Web3 application project team. Entering the WEB3 field with such a large business scale has to be said to be a gamble, and MEET48's ambition is to use the AI UGC content ecology and the graphical and intelligent metaverse social base that focuses on AIGC (Animation, IDOL, GAME and Comics) Z-generation trend entertainment content to achieve social large-scale application of Web3 technology.

Last week, MEET48 announced its entry into the Japanese market and will set up a Japanese subsidiary in Tokyo in August, becoming the third overseas branch after Hong Kong and Singapore. At this time point, BlockBeats invited MEET48's COO Kai to talk about MEET48's recent situation, explore how to develop fan economy in the encryption field, and how to use the latest AI technology and increasingly improved encryption infrastructure to create metaverse gameplay.

BlockBeats: Please give a brief self-introduction. When did you enter the crypto field? What prompted you to join MEET48?

Kai: Hello everyone, I am Kai, currently the COO of MEET48. I have been working in the media and entertainment industry for about 16 years. I learned about Blockchain technology by reading magazines around 2017. At that time, I didn’t quite understand the purpose of blockchain until I joined the startup team of MEET48 in 2022. We brainstormed together and found that blockchain technology and Web3 are indeed very suitable for fan economy.

BlockBeats: Please introduce the concept of Web5.0 (Web2+Web3) of MEET48. This innovative concept combines the traditional Web2 experience with the emerging Web3 technology. What is the far-reaching impact on the entertainment and social ecology? In this new ecosystem, how does MEET48 find the best path for mainstream Web3 applications by integrating AI and MaaS technologies?

Kai: Jack Dorsey talked about Web5 as a combination of Web2 and Web3, and although what I said was a bit oversimplified, as the development process deepened and observed the surrounding projects in previous bull and bear cycles, we gradually realized that Web3 cannot actually exist independently, it must be an extension of Web2, and all new technologies related to blockchain and artificial intelligence need to focus on enhancing user experience.

In terms of entertainment and social interaction, our goal is to incentivize user-generated content and simplify user ownership through Web3, and use new technologies of AI and Maas to lower the threshold and provide better services and rights for Web2 users.

BlockBeats: What product lines does MEET48 currently have? How do these products work together under the concept of Web5.0 content ecology?

Kai: MEET48's products are currently divided into three main categories. The first is AI tools and MaaS, including IdolGPT and SRMBuildor, which allow users to create their own content. The second is Dapps focused on idol cultivation and fan economy, mainly our MEET48 community Dapp and our metaverse. Finally, we also have a large number of ecosystem games that help provide diversity as well as creative promotion and advertising.

Different products cater to different user groups, and the goal is to bring these different users together on a common immersive smart social platform, following our Web2+Web3 principles.

The AI trend is unstoppable. How does MEET48 create an intelligent entertainment ecosystem?

Since this year, many excellent teams have emerged in the AI track, and the development of big models has also been rapid. The MEET48 platform combines AI big models and UGC mechanisms to provide users with rich creative resources and incentive mechanisms, encouraging users to generate high-quality content and gain fun and benefits through virtual idol performances.

BlockBeats: Can you give a detailed introduction to the MEET48 metaverse? How does MEET48 redefine the interaction between idols and fans through this system and create an intelligent social platform based on Web3.0 technology and artificial intelligence?

Kai: MEET48's existing Dapp already has 2 million registered wallets and 50,000 daily active users. It is a platform for idols to interact with fans, and MEET48's Metaverse will be an upgraded immersive scene intelligent social platform. It will not only be a virtual and real performance venue for idols, but also a platform for idols and fans to party, play games and socialize through their respective virtual images. With the assistance of artificial intelligence technology, users can more conveniently carry out various creations and experience a thousand faces of user experience.

BlockBeats: IdolGPT is an AI generation tool developed by the MEET48 team based on the multimodal AI-LLM "Paro". It has recently started closed testing. Please introduce the main functions and user feedback of this product to us.

Kai: IdolGPT is currently undergoing closed testing, with 2,500 users participating in the test. IdolGPT's features will be rolled out over time through different phases, we are currently in phase one, visual generation, which allows users to upload a photo of themselves and IdolGPT will generate a virtual idol based on their likeness. We support both male and female versions and will also support the creation of non-human idols.

We plan to launch the next phase later this year, IdolGPT will offer text-to-song and text-to-dance features, allowing users to create choreography and songwriting by inputting descriptive text, letting users further customize their virtual idol performances.

AI personalities, both original and based on licensed idols, are also on our timeline, allowing users to interact with fellow virtual idols. Users can also team up with other users to create virtual idol groups and host virtual idol concerts in our MEET48 metaverse and player-owned theater system.

We are still collecting feedback, and welcome everyone to experience MEET48's products when we open large-scale public testing.

BlockBeats: MEET48 encourages the creation of user-generated content (UGC). What progress has been made in user education and guidance? In this process, how does MEET48 ensure the quality and copyright protection of user-generated content?

Kai: MEET48's upcoming SRM Builder can help users create virtual images and virtual people's music and dance performances through individuals. Users can share their own performances on their social media or publish them on the MEET48 platform. We will use the ecological fund to support and reward these high-quality creators.

And virtual images with a certain popularity and fans can form their own groups, form virtual idol groups, and participate in various voting competitions held by MEET48 together, winning generous rewards and higher exposure and development prospects.

For UGC content, we will provide blockchain technology to confirm ownership and copyright protection, including future profit distribution, and user voting is the only criterion for evaluating content quality and popularity.

BlockBeats: In the context of combining AI, what mechanisms does MEET48 have to support and motivate users to create high-quality content? And how can MEET48's AI data model and UGC platform allow users to gain more fun and benefits in creating virtual idols, participating in virtual performances and interactions?

Kai: It can be said that MEET48's music and dance model is the most advanced in the world at this stage, because we have up to 500T of high-quality cleaned music and dance videos as initial feeding training. This process has been going on for a year, and there is no similar vertical model on the market. We also have more than 1,000 original music copyrights and thousands of sets of performance costumes and other digital assets, which can help users create virtual idols and virtual performances more easily and at a low cost.

In addition to images, costumes, songs and dance moves, users can also design their own stages, lighting, camera movements and other operations when creating virtual performances, and completely create their own personalized performances. And they can perform in the same virtual dance with companions from different regions. In the end, the performance content created by these users will also be released on the chain in the form of NFTs, and can be bought, sold or disseminated as assets to obtain income.

Eco-link ecology, MEET48's Web5 ambition

BlockBeats: What are the considerations behind MEET48's announcement to enter the game market? In this field, what types of game products does MEET48 plan to launch?

Kai: MEET48's Eco-link ecology is aimed at the newly emerging Ton platform and GameFi market. We hope to attract users through game products. MEET48 will use ecological funds to incubate products and encourage users to enter. MEET48 has officially announced its entry into the TON ecology and officially released its first fishing game product CoinFish on the TON platform in August.

BlockBeats: How can idol culture be combined with game content? What innovations and attempts has MEET48 made in this regard?

Kai: For idol culture, the best form of game is music and dance games. The most representative ones are "Love Live" and "Idol Master". The success of such products proves that games are a good form for fans to participate in idol culture, so MEET48 will also enrich the experience of fan users through games.

The difference is that we will use AI to make the experience of each user unique. It is not a preset content but is generated in real time according to the user's behavior. In addition, users can also earn income with their own contributions while playing the game. I believe it will be an epoch-making and subversive product.

BlockBeats: What is the current progress and results of MEET48 in using the Web3 economic model for content production and user interaction? How do you use governance tokens and NFT mechanisms to ensure the fairness, openness, and transparency of the idol ranking elections, and encourage users to actively participate?

Kai: MEET48 is committed to content production and user interaction through the Web3 economic model, and has made significant progress. By introducing governance tokens and NFT mechanisms, we ensure the fairness, openness, and transparency of the idol ranking elections, and encourage users to actively participate.

1. Governance tokens and NFT mechanisms

MEET48 provides a fair and just Web3 voting platform. We use the characteristics of NFTs that cannot be tampered with and are permanently preserved on the chain to ensure the fairness of idol rankings. User voting is currently exchanged for NFT voting tickets through governance tokens (currently governance tokens have not yet been released, and points are temporarily exchanged for NFTs instead).

The voting process of each NFT voting ticket will be recorded and saved on the chain to ensure that the entire process cannot be tampered with and is transparent and open. After the voting is completed, the NFT voting ticket will be destroyed, further ensuring the uniqueness and transparency of the vote.

2. User incentive mechanism

The core of user active participation lies in the fairness of the platform and the rich interactive experience. By participating in idol voting, users not only have the opportunity to meet idols in the metaverse and offline, but also can turn themselves into virtual idols through MEET48 IDOLGPT (AIGC tool), compete with real idols, and enter the MEET48 metaverse together.

In addition, users who participate in voting and other activities will also receive corresponding points and future airdrop rewards. These incentives further enhance user participation and platform activity.

3. Points acquisition and voting process

Users can earn points by creating content, watching videos and completing daily tasks. These points can be exchanged for NFT voting tickets, which users can use to support their favorite idols. The entire process is designed to motivate users to continue to participate and ensure the fairness and transparency of the election process.

4. Blockchain feature integration

Through blockchain technology, MEET48 has achieved the unalterability and transparent recording of data, ensuring the authenticity and reliability of all votes and user interactions. Every voting process is recorded on the blockchain, which not only ensures the security of the data, but also enhances the user's trust in the platform.

In addition, through the uniqueness and non-replicability of NFT, MEET48 has further enhanced fairness in the idol ranking election and prevented any form of cheating. Through these measures, MEET48 has successfully created a transparent, fair and interactive idol ranking election platform, further improving user participation and the overall activity of the platform.

BlockBeats: In the new Web5.0 ecosystem, how does MEET48 balance the needs of Web2 users and Web3 users?

Kai: Web2 users pay more attention to spiritual values, while Web3 users are more driven by economic values. MEET48 hopes to achieve true decentralization and Mass Adoption through our ecosystem, from tools to mechanisms to business models, so that Web2 users can participate conveniently and enjoy the economic value brought by the ecological economy while generating electricity for love. Web3 users can use their experience and knowledge to provide services in the ecosystem and obtain corresponding benefits through their own contributions, rather than a pure Ponzi zero-sum game.

MEET48's Internationalization Path

BlockBeats: As the main social platform of MEET48, the global version of the social metaverse is about to start limited testing. Can you introduce the core functions and user experience of this social metaverse? What kind of product is it?

Kai: The core function of the MEET48 metaverse is immersive idol performances and fan social interaction. Traditional live broadcasts and videos can only achieve one-way content transmission, and cannot form two-way interaction and social interaction between users, which is far from enough for idols and fans. MEET48's metaverse provides idols and fans with a more immersive interactive experience and a closer form of interaction. In addition to watching performances, idols and fans can chat, party or play games together. Fans with common topics can also socialize in this space.

BlockBeats: In which countries and regions has MEET48 currently opened up the market? What is the biggest challenge faced in the process of global operations?

Kai: MEET48 has entered the markets of Southeast Asian countries and Hong Kong, Macao and Taiwan. The biggest challenge in the process of global operation is the dissemination and trust of culture. Like the belief of Web3, idol culture is also a kind of belief. It is necessary to find and gather people and communities who believe in idol culture, and then let them trust that MEET48 can become their most dazzling stage and help idols achieve greater development and benefits.

BlockBeats: In the process of expanding the Japanese market, what specific measures has MEET48 taken to adapt to and deepen the local market?

Kai: Japan has a good idol culture foundation and fan economy market. In addition to some well-known idol groups, the number of underground idol groups is also very large. MEET48 will invite them to settle in and help them better show themselves and expand their fans through our Metaverse platform, and use our economic system to help them gain more benefits.

In addition, Japanese users also have a general understanding and acceptance of virtual idols, and their creative ability and enthusiasm are also very high. MEET48 will launch a localized version that is more in line with local culture and tonality. It is not just the difference in language, but in music, clothing, dance, scenes and other details that cater to the Japanese market, so as to promote the participation of Japanese creators and users. We will also have strategic cooperation with major Japanese platforms such as Line, Niconico, etc. to jointly develop and build an AI+Web3 virtual idol market.

BlockBeats: In the coming months, MEET48 also plans to open branches in Taipei, Seoul, South Korea, and Dubai. What are the selection criteria and future development plans for these new markets?

Kai: These three regions all have a good Web3 market and user scale, and also have the soil of idol culture. I believe they will become important markets for MEET48 in the future.

BlockBeats: What other development plans does MEET48 have in the fields of AI, Web3, and Metaverse?

Kai: For MEET48, AI is an auxiliary tool, Web3 is an architectural mechanism, and Metaverse is a display platform. Ultimately, we hope to establish an ecosystem where the natives are idols and fan groups, the content output is music and dance performances, and the business model is the realization of fan economy. With the expansion of the ecosystem, we can further attract people with different demands to join this ecosystem and work together to create and build the future of MEET48 Metaverse.

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