‘One of the best ways to convey tradition to in the world of the modern era. As usual, if it is close to Malaysia, it will be too late. '
A group of puppeteers from Taiwan are working on ways to bring their traditional art into the modern era by turning to the concept of non-fungible tokens (NFT) to remain relevant.
Pili International Multimedia, a TV show studio featuring adventurous puppets, based in Yunlin Country, Taiwan expressed a desire to use NFT as its source of income.
According to Pili group director Seika Huang, technological developments happen very fast and the best approach to not be left behind is to explore opportunities, rather than observe.
As a result, Pili has partnered with marketing technology company, VeVe which is responsible for selling their NFTs.
It is said that Pili has converted 4 of his puppet characters into digital form and as many as 30,000 sets of those characters have been sold as NFT on the Veve platfrom.
Huang added, during the initial listing on VeVe, their NFT was sold out within minutes and Pili plans to add to their NFT collection by converting up to 50 other puppet characters to digital form.
For the record, Pili’s artificial puppets featured on TV shows are part of Taiwan’s traditional street entertainment culture that often tells stories of courage and love with elements of martial arts.
Very similar to Wayang Kulit in Malaysia, the puppets are carefully made including clothes that are neatly sewn down to the hair strands, and moved by a skilled mastermind during the filming of the show.
Going back to the original story, although the studio declined to disclose the profit sharing achieved with the marketplace platform, based on the price per set starting at $ 40, it is estimated revenue generated at least $ 1.2 million since their listing in early February.
As such, Pili’s plans to add to their NFT collection show huge potential to generate another multi-million dollar revenue stream for the studio.
Summary of Veve, it is a marketing company based on a premium licensed digital collection offering NFT from leading brands such as Marvel, DC, Disney, Star Wars, Givenchy, Coca-Cola and Pixar.
Bright VeVe brand manager Raymond Chou, Westerners are very fond of the character of martial arts and kung-fu heroes from the East.
