A local production studio that has produced content featuring traditional Taiwanese glove puppets for five generations is now exploring the idea of expanding its exposure globally through the newest of marketing technologies — NFTs.
It is not that surprising a step for Pili (??) International Multimedia, which has been seen as one of the symbols of local geek culture, but Pili general manager Huang Liang-hsun (???) said using NFTs to gain global recognition will be challenging.
NFT stands for “non-fungible token,” which is basically data in the form of pictures, videos and audio that is stored on a blockchain that is not interchangeable. It is increasingly seen as a viable way to sell digital art and see its value appreciate.
Pili first tested the NFT waters in October 2021, when it released a series of NFT pictures showing fan-favorite characters from an acclaimed 2014 fantasy storyline as masked vigilantes.
Because each character was associated with one of twelve fictional zodiacs, merchandising collectibles for that storyline through NFTs found success.
Huang said the company will continue to explore the market following that initial foray, but he was cautious when asked about the prospects for using NFTs to gain international exposure.
Though many would assume that a media company could easily use its intellectual property portfolio to make visually attractive NFTs in the metaverse, Huang said, the reality is not so simple because glove puppetry entertainment has yet to develop a broad following outside Taiwan.
He acknowledged that the metaverse could offer positive opportunities, but said Pili would carefully plan a strategy rather than moving in aggressively, and would make gaining international exposure the long-term goal rather than financial gain.
Pili has long been known for producing exclusive television programming and films using traditional Taiwanese glove puppets, and recently celebrated the premier of its latest fantasy film, “DEMIGOD: The Legend Begins.”
It has ventured overseas in the past, including reediting one of its contents into an English show called “Wulin Warriors”s on the Cartoon Network in 2006, but it did not have much success.
Source: Focus Taiwan News Channel