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A group of Taiwanese puppeteers began using NFTs to modernize their traditional performances and to engage with foreign and young audiences. Puppets are traditional in Tawain, and they are the fundamental entertainment source in Pili, one of the most popular and oldest and still running TV shows in Taiwan.
Pili was released in 1985, and unlike traditional puppet shows, it uses computer-generated imagery (CGI) during action sequences. The show’s producers ‘Pili International Multimedia’ believe that incorporating NFTs into the show will bring an extra source of income.
The company has thousands of puppets, most of them dressed as martial arts heroes. Four characters were recently converted into digital assets, and 30,000 were already sold as NFTs.
“The sort of imagination everyone nowadays has for the online world is developing so fast that we are almost unable to grasp it. Instead of sitting on the sidelines, the best approach is to go ahead and understand fully what’s going on. This is the fastest way to catch up.” Seika Huang, Pili’s brand director, stated.
Although the company never shared profit information, prices of the NFTs started at $40, resulting in at least $1.2 million worth of revenue since the listing in February.
VeVe, the tech-marketing company responsible for Pili’s NFT sales, said the hero puppets are more aligned with a younger crowd and could even draw foreign comics and superhero film fans.
According to Huang, Pili aims to transform 50 more puppet characters into NFTs, possibly leading to another million-dollar revenue stream for the Taiwanese producer.
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