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Web2 entertainment giants are laying out L2 networks with GameFi and NFTs as the focus.
Web2 Giants Enter the L2 Arena: A New Chapter of Blockchain for Entertainment Empires
Since 2021, a well-known tech giant has been continuously expanding its exploration in the Web3 field, venturing into the metaverse, adopting NFT technology, and investing in high-quality projects. Today, this company officially enters the public chain track and has partnered with a Japanese public chain developer to launch an Ethereum L2 solution based on the OP Stack.
This new L2 network will not only be compatible with existing decentralized applications but also plans to develop innovative services related to the company's business, integrating Blockchain technology into its products. An official statement indicated that they will be dedicated to supporting creators in expanding their creativity and enhancing interaction with the fan community.
Considering the company's strong position in the entertainment industry such as gaming, music, and film, we can boldly speculate that this L2 ecosystem will primarily focus on the entertainment and consumer sectors. After the mainnet is launched in the future, it may prioritize support and development for the following types of projects:
1. GameFi
As a giant in the gaming industry, the company owns multiple bestselling game IPs, such as "Elden Ring," "The Elder Scrolls," and "Horizon." While they may not immediately develop Web3 versions of AAA titles in the short term, we can expect to see small Web3 games based on these well-known IPs, such as card games.
It is noteworthy that for Web3 games to successfully penetrate the Web2 market and attract mainstream players, the key lies in achieving "chain abstraction" and "concept abstraction". The gaming experience should make players unaware of the existence of the blockchain, focusing on the enjoyment of the game itself.
2. NFT
In addition to in-game NFTs, we are likely to see more attempts to integrate film and television IPs into NFTs, as well as the issuance of music NFTs. The company may create its own IP NFT market, which would not only reduce its own issuance costs but also attract other IP holders for collaboration.
The company has prior experience exploring NFTs. For example, on the eve of the release of a highly anticipated superhero movie, they collaborated with the theater chain to distribute NFTs to fans. Additionally, they partnered with Universal Music Group to release digital collectibles of legendary musicians in the NFT market.
3. Consumer Applications
In a bear market, when people grow tired of simple price information exchange, various pragmatism-oriented SocialFi, X2Earn, and Web3 alternatives to Web2 platforms have emerged. The company's L2 network indicates that one of its main goals is to leverage the group’s various businesses and IP to create new services, shaping them into infrastructure that everyone can use on a daily basis.
As a Web2 giant, the company has a large user base and strong influence. Promoting its Web3 products to Web2 users, or recommending rigorously vetted high-quality on-chain projects, should be relatively easy. With the popularization of cryptocurrencies, we may see more interesting intersections between Web2 and Web3, such as the ability to interact directly with tokens on social platforms.
These innovations could bring a large number of new users to Web3. Imagine ordinary Web2 players experiencing high-quality Web3 games for the first time, movie enthusiasts gaining unique online experiences through NFT tickets, or regular users easily accessing the cryptocurrency world through new social platforms.
As long as the company can focus on creating high-quality products and nurturing a healthy ecosystem, while avoiding excessive hype, this new L2 network is likely to become an important force driving the mass adoption of Web3.