Looking for a group of Taiwanese doll movers Use of non-fungible tokens, or NFTs, To help bring the traditional art form into the modern era and keep it relevant for a new audience.
NFTs are crypto assets that represent a digital object such as a photo, video, or even land in virtual worlds, with some of them soaring in price so fast last year that speculators around the world sometimes “flip” them in a matter of days to turn a profit.
Pili International Multimedia, which hosts Taiwan’s longest running television program featuring the dolls in its studio in Yunlin County, central Taiwan, says it wants to use NFTs as another source of revenue.
“The kind of fantasy everyone has nowadays for the internet world is developing so fast that we almost can’t fathom it,” said Seika Huang, Pili Brand Manager.
“Instead of sitting on the sidelines, the best approach is to move forward and fully understand what is going on. This is the quickest way to catch up.”
Pili has thousands of flappy puppet characters, a traditional part of Taiwanese street entertainment culture that revolves around colorful and highly stylized stories of heroic bravery and romance, often combined with martial arts.
The dolls were meticulously crafted, and expertly maneuvered during the filming of the shows, in sewn outfits and tufts of hair meticulously held in place.
Bailey said four of their doll figures have been digitized and 30,000 sets have been sold as NFTs.
The company declined to disclose profit-sharing with the marketplace platform, but said that prices for each group start at $40, which has generated at least $1.2 million in revenue, since its listing in early February.
Marketing technology company VeVe, which is responsible for selling NFTs, said the stories of the dolls’ heroes resonate with younger audiences and could attract foreign fans of superhero movies, such as those based on characters from Marvel Comics.
“Westerners really love martial arts and kung fu champions,” said Raymond Chow, VeVe Brand Manager.
Huang, who said their initial rosters sold out seconds after they were released on VeVe, is now working to convert up to 50 more doll characters into NFTs, which could add another $1 million in revenue for the studio.
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