WowYow, Inc., a leader in computer vision artificial intelligence (AI) is debuting two innovative solutions as it enters into the NFT and Web3 space.
Web3 is an idea for a new iteration of the World Wide Web, based on blockchain technology. Web3 will incorporate concepts such as decentralization and token-based economics into its main premise. According to the latest analysis by Emergen Research, the global Web3 market size reached US $3.2 Billion in 2021 and will only continue to grow. By 2030 it is projected that revenue will be up to US $81.5 Billion.
“With a rising demand for more user-oriented, advanced, and secured technologies, WowYow sees a big opportunity to enter the marketplace,” says Jarett Boskovich, WowYow’s Chief Marketing Officer. “We believe we are perfectly aligned with Web3 principles and can offer stakeholders across the market differentiated solutions that will be deemed invaluable to their success.
To capture its share in the market WowYow’s Media Division is launching two innovative solutions. The first solution, WowYow’s Content Metadata Studio (“The Studio”), provides content creators with a way to automatically generate digital assets and derivative works using artificial intelligence.
The Studio is off to a great start as content creators across several genres and sectors have already signed up and begun utilizing its features. Some of The Studio's first partners include African Renaissance and Diaspora Network (An authorized UN-related NGO), 50/50 Global Muzik, Posh Luxury Imports, Adams Motorsports Park, BBQ Outlets, and Del Valle School District.
The first NFT project released through The Studio will be for Musicians in the Key of Free in collaboration with the African Renaissance and Diaspora Network. Their NFT will serve to provide benefits globally directed at children, specifically girls, in support of the United Nations Sustainable Development Goals (SDG’s). This project will feature famous singers including songwriter Diane Warren, Mick Fleetwood of Fleetwood Mac, gospel singer Yolanda Adams, and the Ebenezer Baptist Choir.
“Between the war in Ukraine, the resurgence of COVID-19, and the global economic crisis the song “Free” provides a pathway to hope,” says Michael “Mickey” Shapiro, entertainment attorney, personal manager, and producer. “We are excited to be working with WowYow to bring this project to global audiences in such an innovative way.”
The second market solution, WowYow’s Web3 Distribution Kit (“The Kit”), provides users of WowYow’s Content Metadata Studio with a flexible and secure way to move their assets into Web3 environments. The Kit includes proprietary technology that assigns global ids to mastered assets as well as an application programming interface (API) that enables the transfer of the valuable Metadata, including the global ids, to verify and track assets across the Web3 ecosystem.
By mastering NFTs with WowYow’s Content Metadata Studio and utilizing the Web3 Distribution Kit, content creators can track any derivative work back to original mastered assets. The unique and creative use of global ids offers content creators a new way to protect their rights, as they can match original mastered content assets with derivative works. In addition, this provides users access to robust analytics and increases the likelihood to earn residual royalties for the entire NFT lifecycle.
To address the need for NFT distribution, WowYow has strategically partnered with a blockchain technology provider, Venly.io. In partnership with Venly.io, WowYow will be launching its innovative Web3 Distribution Kit integrated with Venly’s NFT and Wallet API. This will enable content creators to easily enter into NFT and Metaverse markets across multiple blockchains.
“As Web3 propagates there will be a growing need to automate digital assets as well as track and verify derivative works,” says Terrence Coles, WowYow’s Chief Revenue Officer. “We are partnering with Venly because they provide a flexible platform for WowYow to serve a variety of client needs through a single integration. Additionally, connecting the Venly Wallet API to our payment gateway within our Content Metadata Studio will provide ease of use and flexible functionality for our users.”
The integration with Venly NFT will allow users of WowYow’s Content Metadata Studio to set up collections and mint NFTs with the assurance of secure asset tracking via unique global ids.
“Our partnership with WowYow is particularly exciting as we are supporting the NFT purchase from start to finish,” says Yan Ketelers, Venly.io’s Chief Marketing Officer. “Making this an excellent example of how we can help projects bring their community into Web3. We look forward to watching this project grow."