Staging its digital reinvention for the next wave of internet innovation, which technologists call Web3, is the next big challenge. “The magazine was one product of the company. But it was really that rabbit head that’s worth billions and billions of dollars and not replicable,” Playboy CEO Ben Kohn told CNBC in a recent interview. While the brand drives billions in consumer spending worldwide, much of it through licensed products sold overseas, Kohn said that business model is broken and that the company needs to make changes.
The CEO’s fixes rely heavily on that not-so-secret weapon: the world famous bowtie-wearing rabbit. […] The company is focused on trying to leverage that “inherent value” in the digital world.
Featuring collage art that’s on-brand for Playboy, the collection sold out in three minutes.
Following the success of its first collection, the company dropped a second NFT collection in October, titled “Rabbitars”, a collection of 11,953 3D rabbits inspired by the Playboy Bunny.
It appears that Playboy is trying to shed its unsavoury reputation as a 10-part documentary Secrets of Playboy that debuted in January shines a spotlight on the company’s sordid past. The documentary features former employees, playmates and past girlfriends of the company’s founder, Hugh Hefner.
Ahead of the documentary’s release, the company’s leadership published a statement on its website, saying “today’s Playboy is not Hugh Hefner’s Playboy,” as it tries to secure its position in Web 3.
“The magazine was one product of the company,” Playboy CEO Ben Kohn told CNBC.
What’s new? Playboy Magazine will build a virtual mansion, MetaMansion, in The Sandbox metaverse. As part of the project, users will have access to the brand’s unique content and NFT collections, as well as the opportunity to participate in games and events. Representatives of The Sandbox have posted a trailer of the future online space on their Twitter.Anybunny home? 🐰👀🏘 We’re teaming up with none other than….
@playboy! 👯♀️Together, we will be creating a Playboy MetaMansion social game inside #TheSandbox with #NFT collectibles & special experiences for the Rabbitar @PlayboyNFTs community! pic.twitter.com/3l6Wq6ncvt— The Sandbox (@TheSandboxGame) July 11, 2022
What else is known about the project? MetaMansion is directly linked to the previously launched NFT collection, the Playboy Rabittars, which consists of 11 953 rabbit avatars.
It is probably safe to say Playboy and OnlyFans will be battling for your “adult” attention in the metaverse.
According to Forbes, Kohn bought Dream — a social content platform — for $30 million, which led the way for the OnlyFans rival to allow women to control their own content.
While official details of what’s to come for the platform haven’t been fully revealed yet, with Cardi B as a lead and fellow creative visionaries, the team has already gotten the ball rolling of brainstorming ways to dominate in the virtual space.
One way they plan to do so is by “building the digital Playboy Mansion, using blockchain and the fees,” Kohn said.
Playboy has plans to reboot its brand in the digital world through NFTs, digital subscriptions and a new mansion in the metaverse.
They are defined as isolated virtual ecosystems that are not interconnected.
The difference between metaverse and multiverse is that metaverse is a digital environment made up of several linked virtual spaces. It is similar to how a website is a collection of related web pages where one thing leads you to another all around. A multiverse contains a distinct virtual world that is usually sparkly different in its functionalities and thus cannot be linked together to create a hub.
How much does it cost to create a metaverse virtual world?
Building a virtual world in a metaverse is a time-consuming and skill-intensive process that uses today’s finest technologies.
Bunny girls, who will present the partygoers VIP passes as they begin the journey along the red carpet to the accompaniment of fireworks and sumptuous surroundings and into extravagant parties.
Playboy’s chief brand and strategy officer, Rachel Webber, stated;
The culture and lifestyle of the Playboy Mansion were obviously extremely aspirational, so the chance to duplicate that setting in a way that more people can now enter into a virtual realm is something that we are really excited to bring to life.
There are no dates set for the launch of the virtual version, but we are sure it has a few minds thinking over time.
Playboy Ventures into Web3
Playboy previously entered the Web3 space with the release of their Playboy Rabbitars NFTs, a collection of 11,953 unique Rabbitars, 3D rabbit characters.
One of the most recognizable brands in the world is coming to the metaverse The Sandbox. This past week, Playboy announced it was creating a “MetaMansion” in the top-four virtual world, one that adds a social gaming experience to the company’s many facets.
An image of the MetaMansion shows a red-carpeted staircase flanked with Playboy bunnies in traditional voxel (square) style. One Playboy bunny presents the user with an envelope stamped with the letters “V.I.P.”
The MetaMansion will take advantage of The Sandbox’s participants and holders of the Playboy “Rabbitars” NFT set, launched in October 2021.
Both parties will be able to receive special access to the Mansion when it opens, though details are forthcoming on that date.
Sebastion Borget, Co-Founder of The Sandbox, said Playboy has “charm” and already has had success in Web3.
“The opportunity to create that environment in a way that more people can step into now in a virtual space, and to do it in a really contemporary way is something that we’re really excited to bring to life.”
Playboy has been at the forefront of innovation in the entertainment, gaming, art, and celebrity industries for close to seven decades, and The Sandbox continues this legacy by providing a dynamic platform for the next generation of creativity.
Sebastien Borget, COO and Co-Founder of The Sandbox said:
“We’re pleased to bring its rich archive of content into the metaverse and enable true fans to become virtual neighbors of this iconic brand during a future upcoming LAND sale in Q3 2022.”
The partnership between Sandbox and Playboy expands upon the pioneering work that Playboy has done in Web3.
On a high level, the steps involved in building a metaverse app are;
- Step 1: Choose a metaverse platform
- Step 2: Design the metaspace
- Step 3: Build an interaction layer
- Step 4: Build an interoperability layer
Let’s dig deeper and understand what needs to be done in each step.
Step 1: Choose a metaverse platform
If you are planning to launch a metaverse space or an app, you first need to choose a metaverse platform. You can choose from the metaverse platforms already launched in the market, for example, Facebook Meta. Or, you can choose to build your metaverse platform from scratch.
The second option is costlier but more apt for custom metaverse requirements, especially enterprises.
XC Infinity, a trading and battling game in a metaverse built on a blockchain, allows players to collect, breed, and raise creatures called “axies.” Axies are digitized as NFTs.
After 18 months of its launch, the company estimated that an average player had spent around $400 on the game. The play-to-earn model of the game lets players earn a token created on Binance as an Ethereum-based cryptocurrency.
The most popular among cryptocurrencies in the metaverse are NFTs. Digital assets can be traded, bought, and sold as NFTs.
CNBC reports:The company has dropped thousands of Playboy NFTs featuring bunny avatars, launched a digital social platform called Centerfold and has plans to build a new Playboy Mansion in the metaverse. These plans are unfolding while an A&E documentary focuses on the company’s unflattering past. “Secrets of Playboy” is a 10-part series making headlines by featuring former employees, playmates and past girlfriends of the company’s founder, Hugh Hefner, alleging Playboy had a dark side. Even before the series’ debuted in late January, company leadership posted an open letter to its website noting, “today’s Playboy is not Hugh Hefner’s Playboy.”
The futuristic moves come almost five years after Hefner’s death and two years since the last legacy print magazine hit the newsstands.
Step 3: Build an interaction layer
The third step is to build an interaction layer so that your user can interact within the metaspace you have designed. For example, a 3D model of a meeting room is useless with the option for people to interact inside it. The interaction layer defines the user controls, access criteria, navigation controls, and communication protocols between the users.
The interaction layer also defines the integrations with third-party tools and software needed to support the functioning of the metaspace. For example, if you need a Zoom call feature within your virtual metaspace, you should have provisions to integrate Zoom APIs or SDKs into the metaspace you are building.