Many storytellers, content creators, and publishers have to face the challenges of the existing system of publishing. Creators have to give up IP rights or control over their stories and even change their original content to suit the publisher’s needs. Web3 might change the equation in favor of creators with unique opportunities. The following discussion offers you a guide to storytelling in web 3.0 and its importance.
What is Web3 Storytelling?
The obvious question on your mind right now would be about the definition of web 3.0 storytelling. The basic premise of storytelling in web3 involves the use of NFTs and the involvement of the NFT community as an integral aspect in the development of the project. Storytelling NFTs have introduced new approaches for funding storytelling projects. NFT holders could provide funding for the project alongside participating in the direction and narration of the story. Non-fungible tokens could help creators interact with their audience directly and create meaningful value in collaboration with them by leveraging storytelling.
Should you really care about web 3.0 storytelling? You will when you take a look at the example of Hollywood in web3 with the StoryCo platform. The web 3.0 storytelling platform successfully raised almost $6 million in seed funding in January 2023. StoryCo has also revealed the details of its first immersive and collaborative storytelling experience, known as The Disco Ball. Community members can use StoryPass NFT to access pre-release content, puzzles, and artifacts. The collective involvement of community members would help in developing the storytelling experience.
Interestingly, the examples of web3 storytelling projects in Hollywood are not limited to StoryCo. A renowned web3 animation studio, Toonstar entered into a collaboration with Hot Topic, a clothing retailer. The studio would create NFT collections for the original product lines and merchandise of Hot Topic.
Interplay between Web 3.0 and Storytelling
The search for examples of web 3.0 storytelling invites the necessity of reflecting on how web3 has enabled community involvement in storytelling by leveraging NFTs. Non-fungible tokens shook up the world in 2021 as a digital artist, Beeple, created history by selling his NFT artwork for $69 million.
Almost two years later, the growth of web3 has facilitated new opportunities for creating NFTs with utilities in virtual worlds. The answers to “How Web3 is redefining storytelling for creators and fans through NFTs?” can focus on how NFTs can be more than a new generation of artwork. In the present world, non-fungible tokens have enabled new approaches to storytelling by encouraging community development.
The chairman of Animoca Brands, Yat Siu, has stated that collaborative narrative forms, such as fan fiction and YouTube videos, have gained significant popularity in web2. However, web2 lacked efficient mechanisms for sharing collaborative efforts to facilitate recognition and economic benefits for creators. The use of NFTs as storytelling tools for web3 has created new possibilities for collaborations with creators. Writers, film directors and artists could use NFT communities to encourage collaboration with different individuals for creative projects.
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Benefits of Web 3.0 Storytelling
The most noticeable highlight in discussions about storytelling in web 3.0 would draw attention to the benefits. You can find many web3 story telling tools making their way into the market with exclusive value advantages. Non-fungible tokens can help in introducing new functionalities for the industry involving movies, books, podcasts and different types of content. Content creators could utilize NFTs for organizing exclusive ‘meet the author’ events alongside providing early access to specific materials. NFT owners could vote as well as participate in designing the narrative for future stories alongside reaping monetary benefits.
In the example of web3 storytelling platforms, Readl allows users to post stories on the platform and earn rewards. The web3 platform guarantees lifetime royalties alongside removing expensive intermediaries and obtaining funds for storytelling directly from the community. As a result, active participants are more likely to obtain value for their work.
The benefits of web 3.0 storytelling have also attracted the attention of Hollywood in web3 as popular celebrities have been exploring the space. For example, Mila Kunis has created a successful animated web series known as Stoner Cats. The web series has NFT holders voting on the storyline for the next episode. Similarly, the VeeFriends NFT collection by Gary Vaynerchuk also features many interesting IP contents for supporting storytelling projects. The NFT collection can help in the production of unique TV series and storybooks and expand the content ecosystem with new innovative additions.
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Impactful Examples of Storytelling in Web 3.0
The explanation of best practices for storytelling in web 3.0 calls for learning about the important web 3.0 storytelling projects. Many web3 projects encourage storytelling in web3 by using trackable NFTs to enable collaboration among project creators and followers for different storytelling projects.
The comic book industry is one of the frontrunners in the adoption of non-fungible tokens for storytelling. Palm NFT Studio has launched an NFT project recently in collaboration with DC Comics. The new NFT collection is titled The Bat Cowl Collection, which features around 200,000 distinct 3D-rendered Batman cowl NFTs. DC Comics fans could use the NFTs to participate in story designs for future comic books.
The Bat Cowl Collection serves authentic answers to “How Web3 is redefining storytelling for creators and fans through NFTs?” with the practical use of web3. Warner Bros. had been thinking of new ways to bring Batman to life for the fans. Web3 can help the studio collaborate with fans on a personal level in multiple ways. Every Bat Cowl NFT would serve an integral role in the overall storytelling process.
Fans could become protagonists and enable new approaches for co-creation and shared experiences. The combination of web3 and generative art could help fans in shaping up their own superheroes alongside expressing their stories. Developers of the Bat Cowl NFT collection have created storytelling tools for web3 by allocating distinct traits to each Bat Cowl NFT. Most important of all, the feature of badging in the NFTs could help in creating distinct stories behind the cowls.
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Emerging Projects in Web 3.0 Storytelling
The scope of web3 in the transformation of storytelling is evident in the use of NFT communities. Participation of NFT owners in creative story development initiatives for incentives can introduce new inputs and perspectives on storytelling experiences. On the other hand, web3 story telling tools are extending beyond NFTs into the metaverse. As of now, the examples of top web 3.0 storytelling projects serve important insights into how web3 transforms storytelling.
The first entry among successful web3 storytelling projects is Edenhorde, an NFT collection from Merit Circle. It has 8,800 NFTs, and the web3 platform emphasizes collective worldbuilding alongside intellectual property development. You can gain a stake in the Edenhorde project with ownership of an Edenhorde NFT. The primary objective of Edenhorde focuses on delivering the first ‘media mix’ franchise within the NFT ecosystem. It also serves as the entry point for Merit Circle ecosystem.
The impact of web3 storytelling is evident in the design of Edenhorde and its virtual world. It features a vibrant world with unique imagination of distinct perspectives. Players can access an immersive experience of an epic adventure journey in a dystopian world filled with magic and drama. The universe of Edenhorde follows a design enriched with engaging storylines, combat and exploration.
The story of the Edenhorde universe starts with a group of friends on an adventurous journey. As the friends embark on their journey in the universe, they discover more about the world around them and each other. The players uncover more information about their past alongside the darker forces at play.
Web3 can play a vital role in transforming the experience of players through new challenges, approaches and opportunities. The best part of storytelling in web3 with Edenhorde is the part-ownership allocated through non-fungible tokens. Participants could have a direct share in the success of the project alongside the flexibility for selling or trading their ownership of Edenhorde NFTs. The Edenhorde NFT owners can reap the benefits of increased brand exposure, such as building their personal brand.
The second top example among emerging projects in the domain of web3 storytelling projects refers to Armored Kingdom. It is a multi-platform, global entertainment virtual universe that aims to transform web3 trading card games, animation content, films and digital comics. Armored Kingdom serves a seamless mix of media franchises alongside science fiction with fantasy world-building activities. It could offer an engaging platform for fans to interact with each other and creators.
The premise of the Armored Kingdom universe revolves around several warring tribes belonging to medieval dynasties. Players battle with each other to find a powerful and mysterious metal, Armorite, which has not been mined since the times of the Ancestors, a long-vanished civilization. The effective use of storytelling tools in web3 helps players in exploring the world of Armored Kingdom to find magical weapons of the Ancestors. At the same time, the Armored Kingdom universe also helps players in creating new gaming experiences.
Armored Kingdom leverages the NEAR blockchain to create multiverse experiences that would work across different media. The platform establishes a benchmark for creating intuitive experiences that would cater to a broader audience base.
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The answers to “How web3 is redefining storytelling for creators and fans through NFTs?” also point to example of Kumite NFT collection. It is the first NFT collection by HeroMaker Studios with 9600 artwork NFTs developed in accordance with ERC-721 standards. The unique highlight of the custom-illustrated NFTs focuses on the use of generative art.
Each NFT in the Kumite NFT collection has been created from a predefined code with unique traits. Every NFT features completely random traits at the time of minting. You can find more than 240 unique characteristics in the Kumite NFT collection, along with distinct layers and traits. All the avatars have unique specifications of appearance, rarity and identity.
While talks about examples of Hollywood in web3 are gaining momentum, the Kumite NFT collection creates an action universe of its own. The story of Kumite NFT collection is set in the year 2050, which has witnessed rapid strides in advancements for biotechnology or nanotech. At the same time, certain companies have created synthetic beings and are engaged in armed conflict to establish power.
According to the founder of HeroMaker Studios, Gareb Shamus, the first character franchise series would find a place in an upcoming comic book, merchandise drop and game. NFT holders would develop the backstory of the Kumite universe, and it would become an important input for a comic book. Shamus has also stated that fans could use NFTs to become a part of the storytelling process and enable constant engagement.
The platform would offer commercial rights to fans for taking concepts from the Kumite NFT universe and creating their own stories. As of now, Shamus focuses on comic books to drive community engagement through storytelling. In the future, Shamus believes that the HeroMaker universe could also explore web 3.0 storytelling prospects through gaming, film and television.
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The basic principles of web3 focus on empowering users with control over data and digital experiences. Web3 could provide comprehensive support for reforming storytelling projects in film, comic books, gaming, and television. The most important highlight of storytelling in web3 sheds light on the community participation of NFT owners. For example, if you are a creator seeking new stories for a film script, you can create an NFT community.
Each NFT owner could offer to fund developing your script alongside contributing inputs for the script. In return, you have to offer incentives to the NFT owners and part ownership in the success of the script. On top of it, virtual worlds in web3 could open up immersive storytelling experiences along with NFTs providing recognition and financial benefits for creators. Learn more about web3 and its potential right now.
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