Palo Alto, United States, August 29th, 2024,
Chainwire
Aptos Labs Teams Up with Mereo to Address Asset Scalping and
Strengthen Fan Loyalty, Transforming the Artist-Fan Connection
Through Fairer Engagement Practices.
Aptos Labs, a leading innovator in blockchain
technology, today announced a strategic investment in Mereo, a pioneering platform reshaping fan engagement
and loyalty. This partnership aims to revolutionize how artists and
IP owners connect with their fans and address the growing challenge
of IP-related asset scalping in the music and entertainment
industries.
Fans around the world engage daily with their favorite artists
through music streaming, purchasing merchandise, and attending live
events. However, effectively identifying the most loyal fans and
fostering meaningful engagement remains a significant challenge for
the industry, which often relies on disparate data from multiple
platforms to build fan communities.
Mereo offers a groundbreaking solution to these challenges,
empowering artists to recognize and reward genuine fans while
creating opportunities for casual fans to deepen their
engagement.
A Paradigm Shift in Fan Engagement
Mereo’s platform introduces a transformative model for artists
and IP owners to allocate access to real-world assets and
experiences based on fans' historical actions. Fans can earn
benefits such as early access to merchandise and enhanced
experiences at live events by accumulating financial and
non-financial contributions on their fan journey. These
contributions are securely recorded on-chain as soulbound digital
assets linked to a fan’s on-chain identity.
Unlike platforms using fungible tokens and NFT collections where
access can be bought and sold, Mereo offers a more equitable and
inclusive model for fan engagement. A fan's reputation, captured
through non-transferable tokens, allows them to publicly and
pseudonymously demonstrate their loyalty to their favorite
artists.
"Our team is committed to building infrastructure that
enables fans to control the value of their actions and gain
recognition from their communities and beyond," said Jaeho Jang,
Co-Founder of Mereo. "We are excited to revolutionize the music
industry by moving beyond traditional, ineffective multi-touch
attribution models that fail to drive meaningful revenue. By
partnering with artists, we provide transformative value through
deep insights, helping them understand and engage their fans more
effectively."
Innovative Technology for Genuine Fan
Engagement
Engaged fan communities collectively generate substantial value
for assets such as tickets or merchandise.
Aptos utilizes the Digital Asset (DA) standard, a cutting-edge
Non-Fungible Token (NFT) standard designed to solve complex
industry problems. These NFTs can be customized to be transferable,
soul-bound, burned, or mutated, providing unparalleled
flexibility.
In collaboration with Mereo, Aptos Labs is developing a novel
solution to combat IP-related asset scalping through soul-bound,
tokenized, redeemable real-world assets. This innovative approach
allows artists and other IP owners to allocate assets to their
verified loyal fans, ensuring these assets remain non-transferable.
Owners of these assets cannot profit from scalping but are entitled
to a full refund once a burn transaction has been completed and
verified on-chain.
“We’re thrilled to join forces with Mereo to tackle
asset scalping and better recognize true fan loyalty,” said
Christie Lee, Head of Partnerships, APAC at Aptos Labs.
“Integrating our technology with Mereo’s platform is set to create
a more rewarding and fair experience for artists and their fans
alike.”
By addressing the core issues of the modern fan engagement,
Mereo aspires to restore the joy and excitement that come with
being a part of a community, making every experience not just an
action but a celebration of the artist-fan connection.
About Aptos Labs
Aptos Labs, co-founded by Mo Shaikh and Avery Ching,
is dedicated to creating better network tooling and seamless
usability to bring the benefits of decentralization to the masses.
Having now raised over $400M, Aptos Labs is backed by top-flight
investors, including a16z, Jump Crypto, Dragonfly, PayPal Ventures,
Andreessen Horowitz and Franklin Templeton Investments. For more
information: www.aptoslabs.com &
X.
About Mereo
Mereo is revolutionizing fan engagement by empowering
IP owners to identify and create more engaged fans. As an
experiential and social platform, Mereo enables fans to earn
benefits from their reputation. By onboarding the intangible value
of community action on-chain, Mereo aims to transform these actions
into redeemable real-world assets and experiences.
Official website and X
Contact
Comms Advisor
Brian
Principato
Aptos
Labs
aptos@hirschleatherwood.com