Seoul, South Korea, February 27th, 2024, Chainwire
Digital IP entertainment company IPX (formerly LINE FRIENDS) announced the launch of its first PFP (Profile Picture) project, “WADESIDE”, through its partnership with CRIPCO, a global blockchain and NFT company.
Since the release of the WADE F&F membership NFT in September 2022, IPX has been building trust and a strong bond with holders by closely communicating with them and consistently showcasing WADE’s performances as a digital artist. Despite the volatile market conditions, the NFT prices have steadily increased, reaching approximately 240 times the initial minting price as of January, per the company’s statement. IPX’s commitment to sustained and authentic IP activities has demonstrated a correlation with the surge in NFT values, even during the ‘crypto winter’.
The “WADESIDE” project, created based on the digital artist IP WADE on the Ethereum blockchain, introduces a total of 13,333 profile pictures (PFP) NFTs sequentially. It employs the industry’s first INO (Initial NFT Offering) system, featuring a bucket auction sales method that will take place every week throughout the year, targeting corporations, in addition to the public.
IPX completed the pre-sale of 1,916 NFTs through a private auction to companies and whitelists from February 22 to 27. According to the company, global Web3 giant firms and projects such as Animoca Brands, Azuki, Sappy Seals, Phaver and Mocaverse participated in the auction, raising record-breaking amounts in total in five days, proving the industry’s strong interest. The remaining NFTs, except for some NFTs that have been airdropped to existing WADE membership NFT ‘WADE F&F’ holders, will be sold through weekly auctions in the next 43 weeks to the public starting from February 28.
WADESIDE has attracted several reputable companies in its pre-sale and has garnered attention as ‘one of the most anticipated PFP projects of the year’ in key alpha groups and communities in the NFT circle on Discord and X (formerly Twitter). The project has garnered substantial attention on it’s online communities and many participants in the cryptocurrency ecosystem are waiting for it’s launch.
“IPX’s NFT business is not merely a means to generate instant profits, but an integral part of our IP business aimed at sustainable growth of IPs. That is why we want to extend the WADE IP, which has been building influence by communicating with fans in the music, fashion, and art scene, to the Web3 as NFTs.” said an IPX official, “WADESIDE is a unique project that benefits fans who recognize the value of WADE as an artist. We anticipated it to be a project where the IP and fans grow together.”
Meanwhile, WADE has showcased impressive collaborations with high-end fashion brands such as PEACEMINUSONE, SAINT MXXXXXX, Valentino, and more, both virtually and in real life. WADE has also established his online and offline influence as a digital artist, by hosting pop-up (IRL) events for WADE F&F holders and business partners, presenting his works at the ‘O! Leica 2022’ photo exhibition as the first virtual artist and presenting as a digital ambassador for Sneakers Unboxed Seoul. This year, WADE will continue to release digital music, participate in cultural and arts festivals, and collaborate with renowned brands in various fields. According to IPX, this shall start with participation in the AIRLESS GEN1 brand campaign with Wilson, the official ball manufacturer of the NBA.
Detailed information about “WADESIDE” can be found on the website: https://mint.wade.club/
Bucket Auction
In a bucket auction, participants bid with Ethereum for each NFT, and winners and losers are determined by the clearing price, which is determined at the end of the auction. The floor price is calculated by dividing the final amount that would be raised by the number of NFTs sold.
About IPX (F.K.A LINE FRIENDS)
IPX is the new corporate name of LINE FRIENDS, a global character brand that originally started from Original Characters including BROWN, CONY, SALLY created for use as stickers for the leading mobile messenger app LINE and its 200 million active users worldwide. IPX recently announced a new business strategy that it would accelerate the global expansion of its IP businesses by diversifying its IP portfolios targeting all ages and advancing its digital and retail business. IPX has carried out its IP-based business by partnering with global companies including Netflix (original animated series), SUPERCELL (Brawl Stars), and NEXON (KartRider), while it has created popular IPs including digital artist ‘WADE’, ‘BT21’ (BTS), ‘TRUZ’ (Treasure) and broadened their boundaries to virtual influencers to win the hearts of over 40 million Millennials and Generation Z worldwide. IPX currently operates in 17 markets worldwide including Seoul, New York, LA, Tokyo, and Shanghai, and operates in 16 online sales platforms.
Ron Han
ron.han@hillandknowlton.com
This post was last modified on Feb 27, 2024, 16:17 GMT 16:17