SINGAPORE, April 27, 2022 (Newswire.com) - Fellaz, a web3 NFT solution platform for the entertainment industry, announced a strategic partnership with Hype Labs on the 27th of April. Hype Labs as an accelerating partner and strategic investor as part of the Fellaz ecosystem will provide ongoing support in technology and business development.
Fellaz is a web3 NFT platform for the next generation of the entertainment business. Coined as entertainment 3.0, Fellaz is the first service to establish a comprehensive web3 paradigm for the entertainment business where new value is created for creators and fans alike by incentivizing autonomous participation in building the brand while allowing fans a better engagement as stakeholders using blockchain technology and NFTs, in particular.
To implement this new paradigm and model for the entertainment business, Fellaz plans to offer a way for the entertainment companies and independent creators within the entertainment industry to maximize their talents and IPs in the form of NFTs, which in turn will also be utilized by the fans as means of communication, identification, and access to privileged benefits. Fellaz is currently collaborating with global record labels and entertainment companies to launch their first IP-based NFTs or newly minted NFT-based metaverse idol stars on Fellaz's proprietary NFT launchpad.
Hype Labs, as an activist venture capital focusing on web3 that was founded to support bold entrepreneurs improving the world with disruptive products based on behavioral economics, has invested in Animoca Brands, the world's largest crypto and metaverse game company behind the blockchain-based gaming platform Sandbox, that has recently been valued at USD 5 billion, and also NFT Terminal, an NFT data platform that has over 700,000 active users.
Charles Sung, a Fellaz official commented, "It's not easy to find a formidable partner like Hype Labs; a venture capital that is so well-versed in both the web3 market and technology. With Hype Labs' web3 expertise, their market know-how, and their reputable network of portfolio companies including Animoca Brands, and NFT Terminal, we anticipate great success in building out the Fellaz ecosystem down the road."
Meanwhile, Fellaz is currently preparing to launch an NFT collection of a metaverse idol star in collaboration with Fantagio, a KOSDAQ-listed company, and a South Korean entertainment powerhouse. In addition, Fellaz has signed partnerships with FSN, also a KOSDAQ-listed company, and its subsidiary Handstudio, the two companies behind the highly successful Kpop artist-based PFT NFT project Sunmiya Club.