Solana Founder believes the next Juggernaut IP could come from NFT projects
Entertainment is very important, gaming and movies see billions upon billions made per year as people love to be entertained after a long day at the office. Anatoly Yakovenko, CEO of Solana Labs believes that the next big major IP could very well come from current NFT or past NFT projects.
“I think if you’re dreaming of starring in the next Marvel or Disney in the next 20 years it’s probably happening right now in these NFT sets.”
The leader of Solana believes that NFTs are currently the dominant breakout case for web3 technology and has stated that assets that are tokenized can indeed be utilized as a backbone for many creations.
It is true that the current state of NFTs means that the possibilities are endless for the growth and use of the technology. NFTs allow for the creation of new games , new IPs and new ideas that can all flow from creative minds and communities.
It is no secret that PFP collections, collections that focus on the art as a digital representation of the owner, have been able to bring in billions of dollars. Projects like Bored Ape Yacht Club, CryptoPunks and more have been used in IPs, restaurants, music videos , and even to create music groups. All of these projects have the potential to create something magical or even create an empire as large and as strong as Disney.
There are a lot of projects that offer the holders rights to use the art for their own IP and some of those rights have been a bit unclear. Recently a16z released the “Can’t be evil” NFT guidelines that aim to help in easing the legal ambiguity when it comes to how those IP rights are utilized.
Bored Apes has allowed users to create derivative artwork and projects based on the images they own and that has spawned many unique projects in that space alone.
Other projects have not been so altruistic as Doodles keeps its commercial rights with the original creators, thus building a more traditional type of brand. Another project known as “Nouns” allows anyone and everyone to use, modify and sell any of its imagery.
The future of the technology is still up in the air, especially with the sentiment towards the tech still being a bit more negative than positive there is indeed a major hill to climb. The days of excitement that were seen late 2021 are gone and now is the time for the technology to prove itself as a viable platform.
Yakovenko has been able to watch the technology grow rapidly as Solana is the second largest blockchain for NFTs and has seen the most progress recently during this bear market. The Solana blockchain is also home to DeGods, Y00ts, Okay Bears, and Solana Monkey Business- all very highly valued, very successful projects.
Yakovenko states that NFTs were very much like online forum communities of the 90s which in the end were the stepping stone to the creation of today’s social media. He truly believes that there is project out there that could become a massive franchise.
“I don’t know which way it’s going to go, but it really feels like you’re looking at bulletin boards in the 90s, like OK- some of these are going to be Friendster, Myspace, or Facebook, but it’s really , really hard to predict”