SNEAK PEEK
- Anatoly Yakovenko believes that a valuable and sustainable franchise IP is possible to emerge out of the ongoing NFT space.
- He expects the evolution to be similar to online bulletin boards from the 90s, which led to the fame of social media.
- Solana is behind some very valuable projects like OkayBears, DeGods and Solana Monkey Business.
Will the NFT market produce the next key entertainment franchise? At least, that’s the belief of Anatoly Yakovenko, Solana co-founder and Solana Labs CEO. He shared that NFT projects might bring a major Intellectual Property in the upcoming decades.
Additionally, he shared:
I think if you’re dreaming of starting the next Marvel or Disney in the next 20 years, it’s probably happening right now out of these NFT sets.
According to him, NFTs are dominant at this time for Web3 technology. Continuing, he said that tokenized assets are good to be used like the backbone for every type of creation.
Leading collections like CryptoPunks, BAYC and Axie Infinity have earned NFT trading volume worth billions of dollars. Also, some really remarkable collections in CryptoPunks and BAYC have made millions of dollars apiece.
Talking about the Bored Ape Yacht Club, it enables owners of NFT to both make and sell derivative artwork as well as projects dependent on images they own. Such rights have been deployed to make alcohol & cannabis packaging, virtual bands, Ape-branded apparel and themed restaurants.
Then there are projects like Doodles that keep the commercial rights with the original creators. Moving on to another project, Nouns, it has a no rights reserved thing and has an open-source approach wherein everyone can utilize, modify as well as sell any imagery of its own.
In case predictions made by Yakovenko turn out to be accurate, it is going to be interesting to see which approach rules over the other- one wherein owners can do anything they want in order to increase the IP, or another one wherein the original creators are and continue staying the in charge of the project.
He appreciates the popularity of NFTs just like the online forum communities during the 90s, which led to the social media channels we have now. So is there any possibility for an early NFT collection to rise similarly and turn into a major franchise in the coming decades? Yes, it is possible, as per Yakovenko.
