IPX Unveiled Its First PFP Project ‘WADESIDE’, Elevating the Dynamics Between Authentic IP Activities and NFT Value Growth
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- IPX launches WADESIDE, its digital artist WADE’s first PFP project consisting of 13,333 pieces, through industry’s first INO (Initial NFT Offering) with bucket auction for corporations and the public throughout the year with CRIPCO, the global blockchain and NFT company.
- The private auction, which lasted for five days starting on February 22, raised record-breaking sums with participation from high profile Web 3 firms such as Animoca Brands and Chiru Labs. Public release begins on February 28 followed by every week.
- Launched in 2022, WADE F&F Membership NFTs’ prices in this January recorded approx. 240x more than initial minting, validating that authentic IP activities are catalysts for NFT growth.
- The new WADESIDE project was highlighted as ‘one of the most anticipated PFP projects of the year’ by major global NFT alpha groups and communities even before its launch
- IPX elevates WADE’s digital artist identity to maximize IP value in both Web 2 and Web 3, and WADESIDE offers benefits encouraging collaborative growth between the IP and the fans
[February 27, 2024, SEOUL, SOUTH KOREA] 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. The NFT price has steadily increased despite the volatile market conditions. It is now approximately 240 times higher than the initial minting cost as of January. 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 has completed the pre-sale 1,916 NFTs via a private bidding to companies and a whitelist from February 22-27. Global Web 3 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 public sales are expected to be successful, given the high level interest that WADESIDE has already generated before the official release.
“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 Web 3 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.”
WADE’s impressive collaborations have been with high-end fashion labels such as SAINT MXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX. 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. WADE is continuing to release digital music in 2018, participate in cultural and art festivals, and work with renowned companies in various fields. He will begin with the AIRLESS GEN1 Brand Campaign with Wilson, the official NBA ball manufacturer.
Detailed information about “WADESIDE” can be found on the official website: https://mint.wade.club/
Bucket Auctions:
In a bucket sale, participants bid Ethereum per NFT. The winning and losing participants are determined by the clearing prices, which are determined at the end. The floor price can be calculated by dividing final amount raised by number of NFTs.
About IPX (F.K.A. LINE FRIENDS).
IPX is the corporate name for LINE FRIENDS. This global character brand was originally created from Original Characters such as BROWN, CONY and SALLY for use in the mobile messenger app LINE, which has 200 million users. IPX recently announced that it would accelerate global expansion of its IP business by diversifying IP portfolios to target all ages, and advancing the 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 is currently active in 17 markets including Seoul, New York City, LA, Tokyo and Shanghai. It also operates 16 online sales platforms.
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