After the iQiyi NFT project was suspended for half a year, the vice president switched to new NFT

iQiyi seems to have made new moves in exploring Web3.

Recent news shows that iQiyi Vice President Kuek Yu-Chuang has become a new investor and consultant in the NFT project Imaginary Ones.

Guo Youquan once served as the vice president of Netflix. He joined iQiyi in 2020 and was responsible for iQiyi's strategic planning, market development, public affairs and other work in the international market.

iQiyi has publicly expressed its exploration of Web3 on many occasions, and has also held activities such as Web3 exchange meetings. In September 2022, iQiyi founder and CEO Gong Yu stated at the annual marketing meeting that iQiyi will launch a "calm growth" strategy in the second half of the year and appropriately increase content and market investment. iQiyi is focusing on the layout of next-generation businesses such as cloud cinema, intelligent production, instant business, AR/VR, and Web3.

iQiyi’s official website introduces the company’s focus on Web3. In terms of domestic metaverse layout, iQiyi plans to digitize high-quality IP and distribute it externally. At the same time, it will cooperate with IP that matches the characteristics of its platform for internal distribution. It will also carry out activities such as the distribution and licensing of digital collections. In terms of overseas Web3.0 layout, iQiyi plans to publish, design and operate high-quality content overseas, and cooperate with overseas NFT projects.

The most important layout is that in April 2022, iQiyi released the digital collection Parasitic Panda Producer C. The issuer is OHDAT Labs, which has worked on many NFT projects such as OHDAT GENESIS PASS, North Sea Monster, and Paladin Panda.

Before its release, Producer C had appeared in iQiyi's variety shows and online dramas many times, and was also active in offline events with its technology and fashion image.

iQiyi said that the birth of the Parasitic Panda Producer C digital collection means that the brand is further exploring the integration of content, trends, technology and other fields, exploring the incubation and development of the IP long-term industry chain, and working hard to achieve implementation.

Although iQiyi mentioned cooperation with other projects in its cooperation and development roadmap, the only subsequent officially announced cooperation was the in-depth cooperation with the NFT name service TwitterScan at the end of 2022.

At present, the Producer C project seems to have been suspended for more than half a year, and the official overseas social media account of Producer C has not been updated since March. The data of Producer C on the NFT trading platform Opensea is not satisfactory. The floor price of Producer C NFT is only 0.0048ETH, which is about 8 US dollars, and the total market value is only 508ETH, which is about 838,000 US dollars.

Recently, iQiyi seems to be paying more attention to cooperation with overseas projects. The NFT project IO: Imaginary Ones invested by Guo Youquan has an NFT floor price of 0.47 ETH, which is almost 100 times that of Producer C NFT. The issuer has cooperated with international fashion brand HUGO to release NFT.

On June 16 this year, iQIYI cooperated with the blockchain-based e-commerce metaverse platform Playbux to launch the "Watch to Earn" function. Users can watch the "Watch to Earn" function provided by iQIYI Building after entering the Playbux metaverse platform. For programs and movies with the "Watch to Earn" function, after watching for a certain amount of time, you can participate in the lottery to win NFT, BUSD and other rewards.