How Web3 is redefining storytelling for creators and fans through NFTs

Nonfungible tokens (NFTs) have come a long way in a relatively short period of time. In2017 was a big year for CryptoKitties, the NFT project. Ethereum network. WhileCryptoKitties account forA significant portion of EthereumThese are the transactions volume for 2017. NFTsThese items were used primarily as digital collectibles for the crypto community. 

It wasn’t until March2021, when NFT artwork gained traction owing to the financial benefits of these creations. ThisDigital artist demonstrated it. Mike WinkelmannAlso known as Beeple, sold his NFT piece titled “Everydays: The First 5,000 Days,” which raised over $69 million through Christie’s auction house. Following Beeple’s sale, artwork NFTsThe popularity of the two began to increase, attracting a wider audience. creators and fans.

Web3 enables community storytelling through NFTs

FastFast forward almost a full year later andThe rise of Web3 has given creatorsAdditional opportunities exist to make nonfungible tokens with utility in virtual ecosystems. ThisIt has also allowed NFTsTo go beyond aesthetic appeal, building community is possible throughNew forms of storytellingIn different media.

ToThis is how you can see it. Yat Siu, co-founder andChairman Animoca Brands — a Hong KongGaming on a -based basis and venture capital company — told CointelegraphFan fiction is an example of a collaborative narrative form, as well as fan fiction. andYouTube videos became very popular with development of Web2. “ButThe missing element was a method to effectively share collaborative efforts. forRecognition andEconomic benefit in a scalable and equitable manner. Web3 can help to change that,” Siu said.

SiuIt is believed that WeIt’s possible because of b3. forContent creatorsSuch as writers, artists, and film director andOthers to collaborate with on creative projects. SiuShare this isIt is partly due the fact that WeTo track b3 content contributions on the chain:

“ThisMany possibilities are available forCollaboration across all media formats is possible ImagineInterweaving stories created by a variety of end-users in a user-generated content manner. However, each contributor is fully tracked. and narrative origin.”

To Siu’s point, a number of WeB3 projects are becoming reality, and they are using trackable data. NFTsTo enable project creators and fansCollaboration on different forms of storytelling. ForFor instance, the billion-dollar comics industry has taken an interest using NFTs for storytelling. Palm NFT StudioRecently launched an NFT project Warner Bros. Consumer Products’ DC Comics known as “The Bat Cowl Collection.” This project features 200,000 unique 3D-rendered BatmanCowl NFTsThat will allow fansTo influence the stories of future comic book narratives.

Josh Hackbarth, Head of NFT Commercial Development for Warner Bros. Entertainment, told CointelegraphThat Warner Bros. I was thinking of new ways to bring this about. BatmanTo life for fansThis eventually led to the exploration Web3: “AsThe lead for the ‘Bat Cowl Collection,’ I was excited to see how WeWe may be closer to our goal with b3 fans by allowing them to collaborate with us in new ways.” HackbarthEach NFT will be integrated into future DCs, it was added. Comics’ stories over time.

How Web3 is redefining storytelling for creators and fans through NFTs
Bat Cowl NFTs. SourceDC Comics

Straith Schreder, executive creative director for Palm NFT Studio, told Cointelegraph that each “Bat Cowl” NFT serves as part of the storytelling process:

“ThisAllow for fansTo become protagonists, this project is exciting because it allows an opportunity forShared experiences and co-creations. FansTheir bat cowls will soon be integrated into future DC projects Comics. This isThe promise of Web3 andGenerative art as it allows fansThey can create their own superheroes and tell their own stories.”

InTo get fans’ creative juices flowing, Hackbarth said that each “Bat Cowl” NFT will also contain unique traits. “We call this ‘badging,’ which allows fansYou can badger up in different worlds with their cowls. This will help create the stories behind the various cowls.” Hackbarth further pointed out that while some comic books in the early 1990’s allowed fansTo vote on the fate of comic books, dial 1-800 WeFinally, b3 allows users to be an integral component of the storytelling process. 

“This isIt’s no longer about anonymous voting or dialing 1-800 numbers. NFTsAllow fansTo become verified authentic participants in this entire process. That is what we are excited about,” he remarked.

DC Comics isn’t the only comic book publisher aware of the potential of Web3. HeroMaker Studios — an NFT-native comic book studio — isAlso allow fansto create their own stories. Gareb ShamusHeroMaker was founded by, Studios and Comic-Con International, told Cointelegraph that HeroMakers recently launched a project called “Kumite.” AccordingTo ShamusThis is what it looks like is the company’s first character franchise series featuring an NFT collection of 9,600 generative superheroes and villains. “TheseA comic book and a game featuring characters will be published. and merchandise drop, all driven by our community,” said Shamus.

How Web3 is redefining storytelling for creators and fans through NFTs
KumiteArtworkRivals” NFT. SourceHeroMakerStudios

ShamusHeroMakers owns over 30 character franchises. Kumite isThe first to be released. “‘Kumite’ isBased on a backstory about a fighting tournament between two villains and superheroes. HeroMakers is currently writing a story about ‘Kumite,’ but the backstory of this will be a comic book told by our NFT holders,” he said. Shamus believes it’s important for fansTo be a part storytellingprocess when it comes down to NFTsIt allows you to for constant engagement:

“WeThese stories will continue to be told in comic books. WeLicenses will also be available fansCommercial rights to allow forThis concept should be taken seriously by users and the world behind these characters to create their own stories based in the HeroMakers universe.”

ShamusIt was said that there isIt is also possible to do so throughFilm, television andGaming models are moving forward 

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Given Web3’s potential within gaming, SiuUsers-generated content will inspire and users will be able to create their own preferences. andInform professional game developers to create new narrative possibilities for indie game studios. “Web3 allows for a more collaborative approach in content creation. This is not very different to what happens in some other areas such as fan fiction,” Siu remarked.

InComic books are also available and gaming narratives, WeArtwork has been made possible by b3. NFTsThat allows users to create their own visual stories. Kira BurskyA filmmaker andNFT artist, told CointelegraphThis artwork NFTsThey have the potential to facilitate community building. “With NFTsI have the opportunity to create a world around my art. I’m not just selling these pieces because there is meaning that extends far beyond that,” she said.

BasedThis belief is the basis of our entire existence. Bursky recently launched an NFT collection called “Magic Mind” to celebrate andIncrease awareness about mental health and self-care. “‘Magic Mind’ isHow to dive into ourselves and reflecting where we are in life,” she said. InThis is to evoke it. Bursky explained that each art piece in the ‘Magic Mind’ collection contains various mental traits that can be expanded upon by the NFT holders:

“For example, an NFT may contain the ‘ADHD’ trait. InThis trait can be interpreted in order to understand its meaning and others, we created a resource called the ‘Mindopedia’ to help users better understand each trait andGuide their own storytelling experiences. WithMental health is important. isThis is just a small selection of the many experiences available andThat is what I wanted to do to help people tell. and better understand their personal stories.”

How Web3 is redefining storytelling for creators and fans through NFTs
Magic Mind NFTs. Source: Kira Bursky

BurskyShe shared that she will create a short film about the NFT artworks in the future. “WeYou would like to animated this art andBring it to life to tell a story on mental health and self-care. TheThe overall goal is to achieve this goal isTo build a foundation within Web3 community thatEncourages a healthy lifestyle.”

How Web3 is redefining storytelling for creators and fans through NFTs
Magic Mind “Mindopedia” Source: Kira Bursky

Engagement encourages fansCollecting is better than selling

Since WeNew mediums have been created by b3, storytelling, it’s interesting to point out that NFT collectors may be more inclined to hold nonfungible tokens rather than sell them for profit.

CommentingThis is how it works: Hackbarth explained that the “Bat Cowl Collection” released by DC Comics isDesigned to engage with fans long-term. “The intent here isn’t about prices going up, but rather to be a part of the Batman community in a way that wasn’t previously possible.” As such, HackbarthIt was explained that Bat CowlNFT is a digital pass that allows you to access different types of content in your community. andYou can create new stories by fans.

SchrederWho is it? is behind the narrative development of the “Bat Cowl Collection,” addedThat fan engagement will hopefully result in more meaningful NFTs that fansYou will treasure and cherish for a lifetime, especially as the stories are endless. “I love the idea that stories feel exponential now and that endings aren’t written. ThisIt has been a rewarding experience to be a part of this project. This also allows us to see more opportunities to bring in. fans and their creativity,” she remarked.

Echoing this, ShamusIt was explained that HeroMakers wants you to engage with them fans long-term throughIts character franchises. “WeThis is a design that can be used in different dimensions. ForFor instance, is a gaming system involved with how the ‘Kumite’ universe works. TheConcept itself isEvergreen, which allows for endless stories to be told.” ShamusHeroMakers might only publish a few comics per month, but they can publish an infinite number of them. fansThey will now be able to create their own stories based upon NFT characters. Siu isBe aware, however, that WeThe inclusion these models evoke is why b3 narratives can continue to be written. “No matter how sophisticated or ‘complete’ a work or experience is, someone can always choose to compose on top of it to create an even bigger or different new experience,” he said.

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Will Web3 storytellingAre you in tune with the mainstream?

While it’s notable that Web3 is revolutionizing storytelling within various mediums, it’s important to recognize that the sector isIt is still in its infancy. AsThis means mainstream adoption might take longer than anticipated.

AccordingTo SiuMass adoption will only occur when the world fully comprehends the potential and meaning behind Web3. “What Web3 is andIt is important to make it mainstream. We’re not there yet, but we’re all working on it.”

IndeedInnovation is key isAs evident, it is already underway HackbarthHe remarked that he isBe optimistic about the future “WeBoth are looking to bring in people from the NFT Space. andComic book lovers. This isWe have to walk a delicate tightrope. isWe must ensure that we cater to both audiences. UltimatelyI think we will all look back. andThis moment can be seen as a shift in the way people see the world. Web3 models,” he said. ShamusHe also stated that he believes storytellingVarious elements are enabled by WeOver time, b3 will be embraced by the mainstream.

“Storytelling isOur core values are at the heart of all we do. ItThis is what forms the basis for the relationships people have to their characters andeventually, it becomes an emotional connection that lasts a lifetime. Web3 allows people the opportunity to actively participate in different ecosystems. is a huge opportunity.”