The blockchain-powered digital collectibles may be a thing as we have seen with CryptoKitties, with even the Chinese smartphone-making giant Xiaomi entering the market with a similar service of its own.
And so the expected has happened, another new service was born — this time offering digital collectibles inspired by public figures and political leaders. It is a brainchild of a company called Crypton Labs, and we’ll take a closer look at it today.
Letting users make memes with public figures
Crypton Labs wants to take advantage of the thrive to make memes with public figures by allowing users to to buy unique, digital collectibles of politicians, media personalities and other celebrities, as well as historical figures and famous fictional characters. For the moment, we see their site featuring caricatures of folks such as Donald Trump, Barack Obama, Hillary Clinton, Mark Zuckerberg, Sarah Palin, Kim Jong Un, Oprah Winfrey, Ellen DeGeneres and many others.
On the platform, these digital collectibles are known as Cryptons, each featuring a handcrafted image of the person it represents. Users are then able to add humorous or satirical “gaglines” underneath and share these creations on social media to comment on matters of public interest or just to have fun. Among the examples provided by Crypto Labs are images of Mark Zuckerberg with gagline “Elections are more fun with FB,” Jeff Bezos – “Poor Donald… I am 100x richer,” and Sarah Palin with gagline “Don’t misunderestimate me.”
Looking down the road, the company plans to add short audio clips and animations to Cryptons, and even allow users to turn their own images into Cryptons.
Pricing the digital celebrities
As soon as the user buys some Crypton, the platform introduces the automatic price escalation feature, which means that said Crypton has effectively doubled its price. Alternatively, users can pay a one-time protection fee in order to prevent a Crypton from changing hands, and get the ability to set their own price as part of the package. These features, the company agues, create the prospect for making a profit on the platform.
Speaking of which [profit], Crypton Labs argues that it would be wise to buy a Crypton of someone who is considering to run for U.S. president in 2020 or 2024, and sell that collectible later with the premium.
In addition to buying and selling, Cryptons can also be used in games on the platform when the user can earn a portion of the revenue his/her digital collectible generates — creating the potential for their asset to be even more valuable.
One of the games that is already up and running is the mating game, which enables users to combine two well-known personalities to make a whole new person. Also, a game called Angry Mobs has been launched recently, letting people jeer and revere famous people through the game.
The company has other game/app ideas in the pipeline, but perhaps more important — it plans to open its platform to third-party developers to let them use Cryptons in their own creations.
Are there any legal complaints?
One gotta wonder whether any platform can just “show up” and use faces of famous people like it’s nobody’s business.
According to Varun Gupta, the company’s co-founder, Cryptons don’t trade on some celebrity’s image only for profit. Rather, they are “transformative and artistic creative works and a powerful expressive tool protected by freedom of expression.”
The company’s representative added that the Crypton personalities are public figures, and so far – no legal complaints or queries have been received.
Aside from enabling users to make money from digital collectibles, Crypto Labs will also allow users to launch charitable fundraising campaigns. The company intends to partner with crypto industry leaders to raise money for good causes by creating special charity fundraiser Cryptons, with all money raised going to nonprofit organizations. In this scenario, the Crypton would revert to its normal profit mode once a fundraising goal has been reached.
The hope is that crypto-savvy individuals would launch their own campaigns on the platform, creating momentum among their fans and followers.
Right now, Cryptons can be purchased using a MetaMask digital wallet and/or Ethereum wallet. In the near future, Crypton Labs plans to launch iOS and Android apps to bring all the features to the two dominant mobile platforms, thus potentially reaching millions of users.
The company is also inviting talented caricaturists to get in touch, allowing them to get public exposure and offer their creations for use on the platform.
An Initial Coin Offering (ICO) is planned for the near future, and in the meantime everyone can share any of the Crypton images on social media platforms for free, or download them to send via email.
We’re not sure whether this concept has a future, but then again — we thought the same about CryptoKitties — and they proved a smashing success. Go figure.