SIFF Teamed up with China Data Chain for Access to NCTP CHAIN，Creates First Large-Scale Independent Film Festival Metaverse in China

Shanghai Cultural Assets and Equity Exchange (CAEE), initiated by The National Governance Alliane of Digital Cultural and Creative Industries (hereinafter referred to as the "NGADCCI") and The National Copyright Trading & Protection Consortium BlockChain’s supernode operator China Data Chain (Shanghai) Cultural Development Co., Ltd. (hereinafter referred to as "China Data Chain"), a collaborative development partner of the NGADCCI, signed a cooperation agreement with Shanghai International Film and Television Festival Center under the guidance of the NGADCCI. The three parties will jointly create the country's first large-scale independent film festival metaverse—Shanghai International Film Festival Metaverse Roadshow Center (hereinafter referred to as "SIFF Metaverse") to empower, with technological innovation and digitally-driven operations, China’s film & TV industry for new developments.

SIFF Metaverse, added into The National Copyright Trading & Protection Consortium BlockChain (hereinafter referred to as the “NCTP CHAIN”), will be built and operated by China Data Chain, the supernode organization of the NCTP CHAIN. By simultaneously projecting SIFF events, including but not limited to red-carpet, ceremonies, promotion, exhibitions, forums, transactions, into SIFF Metaverse, SIFF intends to attract domestic and international film & TV organizations to join its Metaverse. Through 24-hour, multi-scenario regular operations, it aims to promote the integrated development of digital film & TV assets and advance film & TV metaverses in a well-regulated way, so that it can play an exemplary role in the film & TV and related industries to encourage the long-term accumulation and application of digital film & TV assets in metaverse.

Under the guidance of relevant departments at higher levels, the NGADCCI was initiated by XinhuaNet, Shanghai Cultural Assets and Equity Exchange, China International Culture Exchange Center, Cyber Security Association of China, etc. and jointly established by the Rights and Interests Protection Office of China Writers Association, China Written Works Copyright Society, China Tourism Academy (Data Center of the Ministry of Culture and Tourism), China Electronics Standardization Institute, China Academy of Industrial Internet, Chinese Academy of Sciences (CAS) Research Center on Fictitious Economy & Data Science, China Arts and Entertainment Group Ltd., and China UnionPay Merchant Services Co., Ltd. The NGADCCI aims to normalize, by leveraging joint efforts, effective management of asset circulation in sectors including the digital cultural and creative industry and the digital intellectual property industry. Co-initiated and co-established by NGADCCI collaborative partners collaborative partners, the NCTP CHAIN serves the cultural resource data and cultural digital content factor markets that are standardized, unified, and collaboratively governed across the country. It is highly professional, normative, and authoritative as a national infrastructure providing comprehensive services in digital property rights.

Founded in 1993, Shanghai International Film Festival (SIFF), run by Shanghai International Film and Television Festival Center, is the China’s first international A-list film festival accredited by the International Federation of Film Producers Associations and is one of the 15 international A-list film festivals in the world. SIFF has become a grand event for the global film & TV industry, allowing it to tell China’s stories with the positive effect of gathering talents, works, organizations and confidence.

Relying on data collaboration between the National Copyright Chain and the Judicial Blockchain, and leveraging the national "Metaverse Digital Identity Authentication" directly under the Ministry of Public Security, the NGADCCI and Shanghai International Film and Television Festival Center will join hands with the parties to promote the establishment of the economic and management system of metaverse film & TV assets compliance by taking advantage of NCTP CHAIN’s ecosystem comprised of interconnected metaverses such as MetaCJ. Giving full play to the resources and platform advantages of the NGADCCI and SIFF and propelled by the various functional nodes of the NCTP CHAIN such as China Data Chain, the NGADCCI and SIFF will provide film & TV assets rights holders with comprehensive services related to digital cultural property rights. The services include digital property right ownership confirmation, digital cultural and creative scenario development, digital copyright value management, registration using blockchain, certification and evaluation, asset management, transfer assurance, infringement monitoring, rights protection, IP licensing and transactions, sales and operation. As the hosts of the IP Adaptation Conference, a special event in digital cultural and creative industry during SIFF, the NGADCCI and SIFF try to establish a digital film & TV asset management and circulation system for the NCTP CHAIN, develop digital film & TV asset smart contract management functions, and promote transactions related to domestic and international film & TV IP licensing, short video adaptation, and film & TV digital cultural and creative products.