What is the point for companies to enter the hot topic “Metaverse” and “NFT” | THE OWNER

(This article is based on the book by Hajime Saito, Norihide Sano, and Mariko Sakai.Look ahead! IT x Business Course Metaverse & NFT]=Impress, published on December 6, 2022=excerpts and edits)

What is the business entry pattern of Metaverse/NFT companies?

If a company wants to enter the Metaverse or NFT business, what kind of form can it envision? We asked Mr. Saito about the main entry patterns, their characteristics, and domestic examples.

What are the forms of corporate entry?

Interviewer: Ms. Mariko Sakai (hereafter, Ms. Sakai): I think that various companies are entering the Metaverse and NFT businesses now, but what kind of specific forms will they take?

Dr. Hajime Saito (Hereinafter referred to as Dr. Saito): We need to divide our thinking into several patterns.First, don’t use NFTsHold events and promote the Web2 MetaverseIt’s a case to use as a place.Then, such as The SandboxSell ​​NFT items using the Web3 Metaverse platformYou can think of a style to do. And another isOnly sell NFTs on platforms such as OpenSeaIt’s a style that

Mr. Sakai: I see. There are three main patterns.the lowest hurdlewhich one is it?

Mr. Saito:Are those that use the Web2 metaverse relatively easy to enter?I think. Possible methods include holding events such as exhibitions in the Metaverse space, creating a virtual store, exhibiting 3D models of products, and then going to the EC site from there to purchase the products.

Mr. Sakai: It’s relatively easy to imagine. But in that caseHow do you make a profit? I understand the product sales, but there are many cases where exhibitions are held for free without taking participation fees, right?

Mr. Saito: Hmm.In the current situation, don’t think about monetization that muchworking on an experimentThere may be many cases. I think we’re at the stage where we’re trying to experiment with something new.

Web 3 Metaverse has a high entry hurdle

Mr. Sakai:When to use the Web3 metaversewhat about Compared to the Web2 Metaverse, I have an image that it will be easier to make a profit.

Prof. Saito: I have the impression that companies that use The Sandbox, etc., think in terms of profits, and are proceeding with specific business models. However, this pattern is actually quite difficult,Efforts are required for both Metaverse and NFTSo it may not be something that can be done overnight.

Mr. Sakai: I see. It seems that the hurdle is a bit high. If so, what form will it take?

Saito-sensei: In the case of The Sandbox,“LAND”calledSecure your own plot of land in the Metaverseand deploy the service within it. “SHIBUYA109LAND” developed by Shibuya 109 is known as an example of Japanese companies entering the market.

Mr. Sakai: What exactly are you doing?

Saito Sensei: In April 2022, a limited set of 100 original NFT items and LAND will be sold. In the future, in addition to holding events and selling NFTs,Also used as a place for advertisingIt looks like it’s going to

Sakai: What other companies are entering the market?

Saito-sensei: Square Enix called “Dungeon Siege” in TheSandbox.LAND where you can play gamesannounced the expansion of Avex also plans to open its own LAND in The Sandbox in 2022.

Mr. Sakai: Well-known companies are very interested! It seems that it will be even more exciting in the future.

The power of content is the key to NFT sales

Mr. Saito:Sell ​​only NFTs without using Web3 metaverse spaceWhat kind of image is the pattern?

Mr. Sakai:Convert IP and characters that you have as your own content into NFTs and sell them on platforms such as OpenSeaThere are many cases. In Japan, two pieces of street art drawn by characters in the manga “Left-handed Ellen” were sold as NFT art in April 2022, and the total price of the two pieces was about 8.3 million yen. .

Saito Sensei: That’s a great price!There are people who feel the value of a picture drawn by a fictional character, especially digital art.It is that. What other examples do you have?

Mr. Sakai: There is also a project called “From the Fragments of Tezuka Osamu” that sells Osamu Tezuka’s works as NFT art.be the firstGenerative Art NFT “Astro Boy”1000 NFTs were sold out in about an hour.

Saito: Even if 1,000 similar items are sold, there will still be people who want them!

Mr. Sakai: Generative art NFT is NFT art that is randomly generated automatically by a program. You can make and sell a large number of works.

Saito Sensei: And then follow itOne-of-a-kind mosaic art sold at auction for approximately 53 million yenIt has been.

Mr. Sakai: Is it that expensive? But I feel like I can understand Tezuka Osamu’s art, which is the only one in the world.

Saito-sensei: In addition to this, in terms of manga, the NFT of “Attack on Titan” will be sold in the United States in March 2022, and the “Captain Tsubasa Ball is a Friend NFT Project” will start in July. There is also

Mr. Sakai: But they are all NFTs of famous works.yetUnknown art and charactersIs it still difficult to sell such as NFT?

Saito: In the case of corporate NFT projects, there are many cases where strong IPs that already have many fans are used.If not, what you need to do to make them want to buyBuilding a system is essentialIt will be

Mr. Sakai: I see. First of all, it is necessary to get people to know the existence of the work or character, and to feel the value.Steady fan makingseems to be necessary.

What do companies think about when they enter the metaverse?

If a company wants to use the Metaverse as part of their business, where should they start? He taught me what to think about when entering the Metaverse.

Decide what you want to do first

Mr. Sakai: Now that the Metaverse is attracting attention, it seems that there are many companies that want to get on board with the boom and want to start something. I think there are various ways to enter.How should I decide the direction?

Saito: I think it depends on what you want to do.Do you want to build a community, sell NFTs, or both?. It may be easy to get lost if you feel like “I don’t have anything decided, but I want to try something new for the time being.”

Mr. Sakai: Certainly! However, when a situation like this time, in which new technologies and mechanisms are drawing attention all at once, I feel like, “I have to keep up with it!”I start running without knowing what I want to doThere are many cases….

Mr. Saito:The first thing is to decide what you want to do. Once that has been solidified, we will be at the stage of thinking about specific methods. Web3 metaverse or Web2 metaverse, which platform to choose, or whether to create a unique metaverse space, how much it will cost, how long it will take to prepare, etc. It is necessary to think about

Mr. Sakai: If you want to use the Metaverse on a trial basis,“I want to create a place to communicate with customers” “I want to make it a promotional place to let people know about our company”I think there are many patterns. For example, in that case, what method should I choose?

Dr. Saito: For such applications,Existing Web2 metaverse platformI think that using is the lowest hurdle.

Mr. Sakai: How should we think about the choice of using the Web2 metaverse or the Web3 metaverse?

Saito: If you just want to create a place where people can gather and communicate,Web2 metaverse because NFTs are not neededYou will have to choose

Sakai: In the case of the Web3 metaverse, do you feel that the hurdles will be higher than that?

Mr. Saito: That’s right. Since you will purchase NFT, theremake you feel valuedWe must continue to do so.A mechanism that gives game characteristics and increases the value of NFT in itI have to think about it too. or,Advertising space within the metaverseIt may be possible to think of a way to set up and have them use it. Advertising in the Metaverse is not much different from advertising in reality. Put up poster-like advertisements in the Metaverse space, or put up commercial-like video advertisements so that people who are enjoying the world can see it.Get paid for advertising spaceThis allows metaverse administrators to generate revenue. This alone is no different from existing advertisements, butSuggesting how to put out advertisements that make use of the world of the MetaverseBy doing so, I think it is possible to increase the number of companies that want to advertise. For example, it is conceivable to use realistic images that make use of VR technology, which allows users to simulate the use of real products.

Mr. Sakai: By the way, instead of preparing our own metaverse space in the existing platform,Develop original metaverseDo you have the option to do so?

Saito-sensei: In the case of the Web2 metaverse, there are many businesses involved in the development of XR content, so we will probably ask them to develop it. In the case of the Web3 metaverse, I think it would be quite difficult to create a new one from scratch. Of course there are challenges, butPractical to use existing platformsThat’s what I feel.

Mr. Sakai: I see. I can see the specific form when using it in business.

Authors: Hajime Saito, Norihide Sano, Mariko Sakai

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