B-Bots are cartoon characters initially created 20 years ago that aim to break the norms of how original entertainment IP is traditionally developed within the studio ecosystem, as NFTs. These characters are going to be used as NFTs in a project that will be implementing a platform-like approach to seeding, developing, and growing an original IP.
This podcast was hosted by Jeremy Parris, Ventures Associate at Delphi Digital. He is joined by Seth Green (actor and co-founder of Stoopid Buddy), Shaan Bhagat (co-founder and CEO of Masterfile), and Chris Waters (head of development at Stoopid Buddy).
They touched on different topics involving IPs, CC0 in NFTs, their plans for B-Bots and more. If you weren’t able to tune in live, read on to catch up!
Background Info
● Masterfile partners with world-class creatives, collectives, and IP owners to build new types of media companies powered by web3.
● Stoopid Buddy produces content for internally developed IPs or studios like Marvel and Disney.
What is Globitron?
● Globitron is founded by Seth, Masterfile, Mike Mcguiness, and Ben Balvanz from Fontalicious.
● Ben created the characters of Globitron and the B-Bots and registered a domain 20 years ago.
● With the NFT boom last year the founders came together and tried to figure out the potential of this project.
Seth
● Became interested in NFTs when the concept of NFT moved from an immutable commodity to a certificate of authenticity for an idea or an image.
● 90% of the people either don’t have an opinion or have a negative opinion about the NFT technology that they don’t understand.
● There will be a lot of famous people trying to make money from NFTs, however, Seth’s project is different because they won’t mistreat their audience on the path to making money.
Who Are the B-Bots?
● Watch this trailer below to get an idea of what the B-Bots are about.
Financial Possibilities
Chris
● There has been a consolidation in Hollywood. When selling a show, the upside is limited, especially in streaming where the premium is received upfront without long-tail revenue.
● The business model for producers has gotten worse over the last 10 years.
● There is an opportunity in Web3 to build a direct relationship with the people that are passionate about the IP, the characters, and the creators.
Seth
● If your goal as a founder is to make money, that’s going to be very apparent.
Where does the IP Development Process begin?
Chris
● When the team is developing for traditional buyers, they can anticipate the trends and what people are looking for.
● Ultimately, the team is creating content based on what they find funny.
Shaan
● Masterfile team is making sure that they are betting on the right teams.
● 30 years ago most major studios realized that they were not making films but building IP.
● Web3 can offer something special to the entertainment sector for investing in original IP.
● Crypto offers the entertainment industry non-dilutional funding for original concepts and a direct-to-consumer channel directly to your fans.
Seth
● Thinking about the audience comes first.
● Building an IP begins with “what’s the point of this?”.
● He thinks that building something brand new and growing it in a way so that everybody can see it, is interesting.
● The team is not concerned about competing with anybody else, they just want to tell the story right.
● With Globitron the team wants to leverage CC0 to open up the assets.
● They want to motivate creators to build on top of their IP and to have the option to make it their own.
● The project wants to align the incentive mechanisms in a way that brings in creators and people in the web3 space in a genuine way.
● Their income will focus on blockbuster economics, and when the properties start to spin out of B-Bots, this will start to bring in more fans.
CC0
Seth
● The best model of CC0 is Bored Ape Yacht Club.
● There are 10,000 of them and each one of them is a unique idea, however, they are all part of the Board Apes Yacht Club (@BoredApeYC).
● You have a right to use your Bored Ape NFT to do anything like start up a food franchise or sell whiskey without the reference to the BAYC.
Shaan
● CC0 makes IP unrestricted and any builder can build on top of it.
● There’s a funding mechanism to get builders started.
● All the creative assets such as Figma files, Adobe Illustrator files, and the 3D models are open-source.
● There will be a Terminal, which allows owners of a B-Bot will be able to control a character sheet (description of the character, its personality, etc.).
● Only owners of B-Bots can vote on proposals.
Mint Information
● Mint at Globitron.com
● 8000 units at 0.08 ETH each.
● Up to 5 B-Bots per purchase.
● Minting on Sept. 28, 2022.
Important Links
● Follow Revelo Intel for more notes like this