[PRESS RELEASE – HongKong, HongKong, November 8th, 2025]

According to Hash Global, the rapid rise and subsequent decline of GameFi and X-to-Earn in 2021 led to the notion that “entertainment doesn’t need Web3.” The research states that these initial setbacks were due to superficial content, unsustainable financial incentives, and insufficient genuine user engagement. The fundamental value that Web3 could bring — transparent value distribution, community-driven participation, and asset-based incentive alignment — was not adequately explored.

Hash Global believes that entertainment is the most natural entry point for mass adoption of Web3 technology, as it typically attracts high traffic, fosters strong communities, and has established monetization models. When Web3 is integrated with authentic content and actual user behaviors, financial systems shift from being speculative tools to core economic structures, laying the groundwork for what Hash Global refers to as “Web3 Entertainment.” In the past year, projects like MEET48 have started to embody this model, creating sustainable token systems and enhancing content-driven engagement while ensuring ecosystem value returns to their token economies.

A key feature of this evolution is the emergence of generative AI. With tools like Sora2 significantly lowering creative barriers, content production is increasingly leaning towards UGC and AI-generated UGC. However, Web2 platforms still retain most of the value produced by users, and as AI accelerates user-generated content, the existing conflict between creation and value capture will become untenable. Web3 supplies the necessary infrastructure: provenance, ownership, and value transfer. The collaboration of AI and Web3 is anticipated to upgrade UGC from “user-generated content” to a “user co-creation economy,” establishing fairer and more transparent value circulation.

In this transformative landscape, MEET48 has proven to be a leading executor. Originating from the team behind SNH48 and the iconic rhythm game “Audition,” MEET48 incorporates AI, UGC, virtual idol systems, and Web3 economics into a comprehensive entertainment platform. The project has amassed 3.8 million active users, over 500,000 on-chain wallets, and more than 100 million on-chain interactions, maintaining a consistent Top-1 ranking in the social category on the BNB Chain. Following its $IDOL token generation event (TGE) in June 2025 and partnerships with Binance Alpha, PancakeSwap, Bitget, Gate, and MEXC, MEET48’s fully diluted valuation (FDV) surpassed US$164 million by November.

MEET48’s strategy prioritizes content. Drawing upon decades of idol development experience, the team marries AI character generation, stage design, and performance tools (AIDOL Producer) with a tokenized content asset framework (Mars Protocol) and a metaverse social layer to allow users to engage in virtual idol creation and ownership. Two mechanisms define MEET48’s Web3 structure: Proof of Creativity (PoC), which validates creator contributions through governance-driven recognition, and Virtual World Assets (VWA), enabling virtual idols and related content to function as tradable, ownable digital assets. PoC establishes consensus; VWA offers economic structure.

Few Web3 entertainment projects demonstrate similar depth of execution. Technologically, MEET48 benefits from extensive proprietary datasets and a 500-strong R&D team working across virtual humans, music/dance models, AI agents, and metaverse tech. Operationally, the team has successfully developed large-scale entertainment systems in the past, such as five SNH48 sub-groups and a 30-million-fan ecosystem. To initiate engagement, MEET48 is transitioning the SNH48 voting process on-chain, launching a Web3-native virtual idol game (AuditionsGO), and jointly producing the world’s first AI Idol competition show with Tencent Video. These initiatives create direct pathways from mainstream users to on-chain involvement.

As MEET48 transitions from a mere application to pivotal infrastructure, its ultimate goal is to foster a comprehensive Web3 entertainment ecosystem. MEET Labs is branching into GamingFi and aims to construct an EVM-compatible PoC Layer2 within the Binance Smart Chain ecosystem. This sidechain will integrate users, assets, applications, and creator economies into a cohesive environment, facilitating scalable entertainment assetization, cross-industry traffic routing, and a globally unified user system. Similar to how Binance established the BNB Chain as the financial backbone of Web3, MEET48 is on a mission to create the foundational structure for on-chain entertainment, often likened to an “On-chain Netflix.”

The ecosystem token, IDOL, acts as the primary vehicle for platform value. Reflecting the value capture model of BNB, IDOL combines solid utility (voting rights, purchasing power, content engagement) with twin burn mechanisms that decrease supply as ecosystem activity escalates. Voting pool burns and transaction fee burns introduce structural deflation, while rising demand for content and users enhances token velocity. Hash Global asserts that IDOL is currently in a phase akin to BNB’s status in 2019, with considerable growth potential still unlocked.

Ultimately, MEET48 is not merely creating a product; it is trailblazing a new category. By integrating AI, UGC, and Web3 economics into a well-established entertainment framework, it is revolutionizing the processes of content production, ownership, and monetization. Just as Netflix altered the entertainment distribution landscape, MEET48 is contributing to the transformation of the ownership and co-creation paradigm in the Web3 sphere.

On November 4, 2025, MEET48, Hash Global, and various partners collectively inaugurated the “Web3 Entertainment Alliance” aimed at nurturing industry collaboration, shared traffic, and inter-ecosystem development. This Alliance’s objective is to hasten user onboarding, promote sustainable token economic design, and facilitate the global acceptance of Web3 Entertainment.

For the complete research report, users can visit the Hash Global official website.

About MEET48

MEET48 represents the premier AIUGC and fan economy ecosystem community focused on the entertainment sector. Acknowledged as one of the largest Web3 application project teams worldwide, it consists of a 500-strong technical and R&D labor force with regional operations spreading across Singapore, Hong Kong, Taipei, Tokyo, Seoul, and Dubai. MEET48’s vision is to achieve widespread adoption of Web3 technology (Mass Adoption) leveraging an AIUGC content ecosystem centered around AIGC (Animation, IDOL, Game, and Comics) and a dynamic, intelligent metaverse social infrastructure tailored to Gen Z entertainment preferences.

Website: Meet48 Official Site

Twitter (X): Follow MEET48

Telegram: Join MEET48