Co-founders of StoryCo discuss how blockchain technology can evolve the way IP is franchised
What attracts many creators in blockchain and Web3 is the opportunity to create, own and earn without intermediaries, and non-fungible tokens (NFTs) have emerged as a catalyst for how that can be possible.
On this week’s episode of NFT Steezco-hosts Alyssa Expósito and Ray Salmond chat with Justin and JP Alanis, co-founders of StoryCo – an open media platform – about the prospect of creators co-creating and franchising intellectual property through their storytelling and integrating soul-bound tokens – but how?
Create-to-own and fandom trends emerging in Web3
As creators themselves, the Alanis brothers have a handle on the challenges that hinder many creators and organizations when it comes to talent, knowledge and resource sharing, compensation and collaboration.
When asked how make-to-own models are feasible and accessible, the brothers attributed much of StoryCo’s feasibility to blockchain technology due to its verifiability, accessibility and transparency, but it has “abstracted a lot of the technology,” Justin said.
In this way, it reduces the “fatigue” that creators feel when first navigating Web3 and instead is seamless and “inviting,” JP said
JP reiterated that more often than not, creators are challenged, having moved from a more siled centralized work structure to one that is open and decentralized.
Related: Comic-Con guru says storytelling is key component for successful NFT projects
“I think stories are at their best when they start to centralize,” commented JP as he explained how it’s easiest to build off of something and “have some momentum behind an idea” for it to carry some “traction.”
Storytelling platform as a public good
The battle between needing large industry players within the Web3 ecosystem and for them to be authentic is widespread. Regarding the standards and processes StoryCo has implemented to “get it right”, as Salmond said, Justin commented on the evolving conversations and dialogue within the community and business.
However, Justin emphasized that StoryCo’s mission to “legitimize what they do with storytelling” is ultimately centered on the belief that the platform can be seen as a “public good.”
Acknowledging that there is a “tightrope walk” balance between the project and the platform, JP explained that the projects are a foundation for facilitating attention and structure in an audience or community.
The Disco Ball, StoryCo’s profile picture project, is intended to show a wider audience the open media platforms’ capabilities to co-create, franchise and distribute intellectual property.
JP described StoryCo’s projects, such as The Disco Ball, as akin to Nintendo, where a “new Mario game followed every console release.” The new games were created to “engage an audience” and show what the console – or, in this case, the platform – was capable of given new technologies.
Listen to part 1 of NFT Steez’s conversation with StoryCo on the new Cointelegraph Podcasts site or Spotify, Apple Podcasts, Google Podcasts or TuneIn. Be sure to tune in to next week’s episode to hear part 2, where the StoryCo founders discuss the integration with music NFTs and soul-bound tokens.
