Chiru Labs, a Web3 startup that created the NFT collections Azuki and Beanz, has partnered with IPX, the parent company of Line Friends.
Together, these two companies intend to collaborate on various ventures, including content, retail distribution, real-life experiences, and metaverse endeavors. The initial emphasis will be on the Beanz NFTs and Line Friends characters.
Building Innovative Character IP Brands for the Metaverse
IPX evolved from Line Friends, which began as stickers within the LINE messaging app, into a creative intellectual property (IP) brand, including collaborations with corporations, such as Starbucks, Netflix, and McDonald’s, as well as K-Pop band BTS.
With this collaboration, IPX hopes to supplement Chiru Labs’ IP with its multi-faceted character IP business model, providing collaborative options for both NFT holders and character IP enthusiasts.
Celebrating the Partnership and the Future of Web3 Collaborations
To celebrate the partnership, a billboard above the Line Friends store in New York’s Times Square is showing an animation of some of the NFT characters during NFT.NYC this week.
The collaboration between Chiru Labs and IPX is an exciting development in the Web3 space, with both companies eager to explore new opportunities for collaborative ventures that benefit both NFT holders and character IP enthusiasts alike.
About Chiru Labs
Chiru Labs is most known for its anime-inspired NFT collection Azuki, which has generated significant trading activity since its January 2022 launch.
The company recently made headlines for pioneering physical backed tokens (PBT) as part of a $2.5 million sale of eight NFT-backed golden skateboards. However, the Azuki brand has had significant difficulties, including Zagabond, the pseudonymous founder and CEO of Chiru Labs, admitting that he has abandoned previous NFT initiatives.
IPX, formerly known as LINE FRIENDS, is a global character brand that began with original characters, such as BROWN, CONY, and SALLY, for use as stickers on the LINE messaging app.
It has since transformed its offline business to digital, reaching a total IP transaction of USD 883 million in 2021.
IPX is now positioning itself as a “digital IP platform” company to enter the metaverse and NFT business.