Game of Thrones launched their first NFT yesterday and it became an instant meme.
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the GoT collection:
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0:00 START HERE
1:32 why I’m not surprised
3:56 they can’t keep getting away with this
5:17 the art is…interesting
6:42 making a billion dollars
Look I know that people really hated the Last season of Game of Thrones okay it's Not really a controversial take everyone Seems to agree that it was the worst in The series and I left a sour taste for The entire show you know it's kind of Like going to a five-star dinner and you Just have these 10 back-to-back Banger Dishes each one better than the last and Then you get the dessert and it's like These soft ice cream machine cone things That you might get from an ice cream Truck really that's just gonna taint the Entire memory and almost replace all the Good that came before it when you're Actually looking back on it but even With all that Game of Thrones still has Tens of millions of fans and for example Their most recent show House of the Dragon had an average of 29 million Viewers per episode and that that's an Insane number of people and they've also Had a hundred other different products Right board games toys they even have a Theme park in Ireland now theoretically If Game of Thrones wanted to do an nft Ecosystem and release digital Collectibles and gamify everything and Have side narratives that take place Online only they should be able to crush It alright they have everything you Would want in an IP And yet when they Finally came out with their first Official nft launch yesterday
It was a disaster and it became the Laughing stock on Twitter okay it was Such a letdown that it had less volume Than this collection of Feet picks pixelated photos of feet that Got more attention and more volume than A drop from a brand that is should be in The same tier as Star Wars and Harry Potter okay this should not happen and We'll take a look at how bad this Game Of Thrones drop was in a second but what I want you to understand is that in a Way this wasn't surprising okay the Game Of Thrones drop is just the latest in a Long line of large brand corporate nfts That ended up feeling at best like they Were rushed and not really thought Through and at worst they sometimes feel Like absolute cash grabs for example did You know that Lord of the Rings launched An nft collection just a couple of Months ago I mean I think this was a Footnote and some press release and not Really marketed well but I did look into It and let me pull up the trailer Because I still don't quite understand What this is but I think the trailer Perfectly symbolizes how these companies View this entire space For the first time ever discover the Lord of the Rings The Fellowship of the Ring extended edition web 3 movie extles A groundbreaking first of its kind Digital movie nft launching with the
Epic Edition Explore curated galleries with hundreds Of behind-the-scenes images discover Hidden AR Collectibles relive the Epic Extended edition of the feature film in 4K Ultra HD and immerse yourself in over Eight hours of bonus features The Lord of the Rings The Fellowship of The Ring so immersive menus behind the Scenes galleries I mean this is like the Most middle management Boomer I've Ever heard okay it's like oh I finally Figured out what this metaverse thing is About what people really want is Immersive menus really what it is is you Spend 30 to 100 bucks you get a digital Copy of the of the movie some cool Little behind the scene goodies and then You get this like rotating gif as your Token okay Um I guess some people would want this And it is trading on their Marketplace What would strange is that this isn't Really on ethereum or any other you know Common blockchain it's on something Called the alluvio content blockchain Which I've never heard of and I'm Basically live in this space and so I it Just feels like they're going the extra Mile to make this weird and complicated I don't know why they can't just use Something that people are familiar with Now as confusing as this all sounds what Is perhaps even more surprising is that
They keep selling out okay in this case The Epic Edition which was 100 bucks Sold out so they did make six figures on This Edition alone and I feel like That's why we keep seeing these kinds of Drops every few weeks and I'll just give You some examples you had the Ghostbusters afterlife Collectibles Which is completely dead now I don't Know how this example of Fine Art didn't Do well uh you have this Nickelodeon Drop which not sure why this one exists Either although this one a lot of us did Buy in because there was an off chance That maybe they were going to do Something with it spoiler they didn't uh You have these Avatar 50-year Anniversary drops which again not sure What this is uh Looney Tunes I don't Think a lot of people heard about this One uh and then DC came out with just Like static images of covers of uh or Maybe entire comics of these really old Comic books that they had without any Utility or really tying into any new Narrative uh Budweiser just different Cans with themes behind it and then Perhaps the biggest one of them all was This Matrix Avatar collection and this One they actually made five million Dollars from selling a hundred thousand Of these Matrix avatars which I I mean I don't really know what what The point is but
They exist and look the list goes on and On and this all brings us back to Yesterday's Game of Thrones drop now Keep in mind Warner Brothers has the Resources to hire the very best artists In the world okay they have more money Than every nft that you've heard of If they wanted to they could truly Create something breathtaking something That would Inspire their fans and they Would could come out and say where this Forward-looking Innovative brand that is Here to take over whatever the metaverse Is going to be but instead We got this okay some kind of hellish Characters that were probably hacked Together from some 3D assets that were Lying around probably from some like d Tier mobile games or like QR code Animations that you might get with your Happy Meal toys I feel like this is what Gen Z thinks World of Warcraft looked Like when it launched 20 years ago and It probably was either some interns I Got in way over their head or there's Some absolute trolls at Warner Brothers That knew that they could get this past Their bosses who were not even going to Glance at the art before they just Shifted out into the world either way These have already been born they're on Chain now it's an irreversible decision So the best we can do is just learn how To live with them going forward okay and
As you would expect these became memes Of their own you know people on nft Twitter love flops they love turning Them into memes and this one in Particular already sold for one eth uh So congrats to Big Dingus for that huge Win but guys like I said they have the Resources to do whatever they want and When you see something like this it Tells you that they don't take nfts Seriously at all or maybe they even hate Nfts and they just want to give Journalists more reasons to write Articles that are making fun of the Whole idea because it doesn't really Matter to them because they keep selling Out you know as far as I can tell they Sold out all their Hero boxes so in this Case almost 5 000 in total at a price of 150 per box so they made somewhere Around 700 Grand and to be fair they do Have some other things planned for this Project okay so these boxes came with These resource cards which you can later Use to quote build your realm whatever That means and look maybe they look at These early mistakes and they group up Internally and they say okay we gotta Shave up this product guys but I'm not Holding my breath okay most likely this Is just gonna be some slightly rotating 3D location that has no reason to exist Or ties into any larger narrative the Point is that yes if you're a big brand
You can make seven hundred thousand Dollars with very little effort okay and And you can create an online marketing Tie-in for some movie or show and for The first time ever you can get fans to Pay for it all and that'll make you feel Very clever and maybe you might even get A promotion but you're missing out on a Much larger opportunity okay Hugo Labs Is a four billion dollar company just From selling nfts okay this is an indie Company that created an IP from scratch And people are still buying their nfts Every single day for hundreds of Thousands of dollars and in some cases Millions of dollars okay so the first Big Brand that takes his face seriously That actually creates something Innovative and puts resources behind it Can make billions of dollars and I'm not Exaggerating at all and there are Companies like Reddit and Starbucks who Are taking this seriously and maybe They're the first to actually pull it Off but entertainment brands have an Advantage in that they've already done The hard work of creating an IP that People seem to love so yeah I mean we're Probably going to continue to see these Half-assed movie tie-ins and borderline Cash grabs for the foreseeable future And if you like buying them more power To you okay I can kind of see how owning The First on on chain Game of Thrones
Collectibles could be kind of cool even If they did come out looking like they Were derived from some fever dream all I'm saying is that they can do more and The first Big Brand that does more I Think there's a pot of gold out there Waiting for them okay and so there is an Incentive for the first ones that figure It out all right guys that's it for Today thanks for watching and I'll catch You the next video
