Crowd Media enters partnership with Impssbl for interactive NFTs project
Crowd Media Holdings Limited (ASX: CM8: | FRA: CM3) and IMPSSBL Corporation are pleased to announce the execution of a Binding Heads of Agreement (HOA) to integrate Crowd’s Talking Head technology into the NFT marketplace as a series of interactive Non-Fungible Tokens.
Developers behind NFT projects, Impssbl specialize in the application of digital assets in storytelling where the NFTs are integrated with artificial intelligence to tell stories through Web3 mediums.
Under the Heads of Agreement, Crowd Media will grant Impssbl access to the Talking Head platform for the purpose of developing a ‘bridge’ that will convert an AI generated Talking Head (aka a digital avatar) into NFT artwork.
Impssbl will lead the NFT creation process, and will execute the marketing and sales of the created series.
The NFT project will be undertaken into three phases.
- Phase 1 (Technical Integration): Integrating Crowd’s Talking Head platform to Impssbl art resources and technically proofing the mutual creation of visual-conversational-chatbot as a Non-Fungible Token.
- Phase 2 (First Commercialization): Develop and Market full digital and interactive NFT Series
- Phase 3 (Scale Commercialization): Develop and Market multiple series of NFT’s on various channels
Phase 1 is anticipated to be completed before the end of Q1 FY23. Marketing initiatives will then be rolled out by Impssbl with details for the first collection’s mint expected to be confirmed in Q2 FY23.
Profits generated from the first and future NFT series will be shared with Impssbl to be allocated 70% and Crowd Media to be allocated 30%, after expenses for technology development and marketing spend are recouped.
For the purpose of NFT authentication, Impssbl or an account designated by Impssbl, will be classified as the ‘Creator’ of any NFT series created under the HoA whereby Impssbl will collect all Creator fees and share profits with Crowd Media on a quarterly basis whereby Crowd will receive its entitlement in ETH.
Crowd Media CEO, Idan Schmorak commented: “Digital avatars generated by Crowd’s Talking Head platform have all been unique in nature between their visual and audio elements which is why the NFT landscape was identified as an opportunity to monetise our technology. Through Impssbl, we have found a partner in the space that not only specialises in the creation of NFTs but is also able to create utility for them in the form of interactive communication and storytelling.
“With these NFTs, collectors are not getting a picture, they will be getting an interaction. And in the future as we scale the project up utilising Crowd’s Talking Head platform, collectors will be able to acquire an interaction with a celebrity avatar that is personally made for them.”
Impssbl Founder and CEO Alessandro Botteon commented: “We are excited to be working with Crowd Media on this project having seen the deep tech capabilities of their Talking Head platform and capability to rapidly roll out highly life-like avatars. By building them into the NFT landscape, this is an opportunity to offer a collection of NFTs that will interact with their users, giving owners a unique experience with their NFTs that can mirror real people.”
Crowd Media welcomes investors to join the Company’s mailing list for the latest updates and industry research by subscribing at: https://crowdmedia.com/newsletter
ENDS
The announcement has been authorised for release to ASX by the Board of Directors of CM8.
For further Information:
Idan Schmorak
CEO Crowd Media Holdings
Crowd Media Holdings
ACN 083 160 909
crowdmedia.com
Perth
202/37 Barrack St
Perth WA 6000, AU
Amsterdam
Piet Heinkade, 95B
1019 GM Amsterdam, NL
ABOUT CROWD MEDIA
Crowd Media is an Artificial Intelligence company that is leveraging its AI platform for applications in Conversational Commerce.
ABOUT IMPSSBL
Impssbl is a Web3 creative studio specializing in decentralized autonomous stories: from superheroes to comic books, from graphic novels to films & series, each co-shaped and co-owned by their communities.
