Hash Global Report on MEET48: From Idol-Making Factory to AIUGC & Web3 Entertainment Platform
HongKong, HongKong, November 8th, 2025, Chainwire
According to Hash Global, the rapid rise and subsequent decline of GameFi and X-to-Earn in 2021 led to the perception that “entertainment doesn’t need Web3.” The research notes that these early outcomes stemmed from shallow content, unsustainable financial incentives, and a lack of genuine user engagement. The core value Web3 could bring to the entertainment sector — transparent value distribution, community-driven participation, and asset-based incentive alignment — was never meaningfully explored.
Hash Global remain convinced that entertainment is the most natural entry point for Web3 mass adoption. Entertainment inherently carries high traffic, strong communities, and proven monetization models. When Web3 is integrated with real content and real user behavior, financial mechanisms transform from speculative tools into fundamental economic infrastructure. This is the foundation of what Hash Global defines as “Web3 Entertainment.” Over the past year, projects such as MEET48 have begun implementing this paradigm, building sustainable token systems, deepening content-driven engagement, and ensuring ecosystem value flows back into their token economies.
A defining feature of this cycle is the rise of generative AI. With tools such as Sora2 lowering creative barriers to near zero, content production is shifting decisively toward UGC and AIUGC. Yet Web2 platforms still capture the majority of value generated by users. As AI accelerates user-generated content, the structural contradiction between creation and value capture will become unsustainable. Web3 provides the missing infrastructure: provenance, ownership, and value transfer. Together, AI and Web3 will upgrade UGC from “user-generated content” to a “user co-creation economy,” establishing fairer and more open value circulation.
Within this transformation, MEET48 has emerged as one of the strongest executors. Originating from the team behind SNH48 and the iconic rhythm game “Audition,” MEET48 integrates AI, UGC, virtual idol systems, and Web3 economics into a coherent entertainment platform. The project has already accumulated 3.8 million active users, over 500,000 on-chain wallets, more than 100 million on-chain interactions, and a consistent Top-1 ranking within BNB Chain’s social category. Following its $IDOL TGE in June 2025 across Binance Alpha, PancakeSwap, Bitget, Gate, and MEXC, MEET48’s FDV exceeded US$164 million by November.
MEET48’s approach is content-first. Leveraging a multi-decade foundation in idol development, the team integrates AI-based character generation, stage creation, and performance tools (AIDOL Producer) with a tokenized content asset framework (Mars Protocol) and a metaverse social layer. This combination enables users to participate in virtual idol creation and ownership. Two mechanisms define MEET48’s Web3 architecture: Proof of Creativity (PoC), which validates creator value through governance-driven recognition, and Virtual World Assets (VWA), which allow virtual idols and content to exist as tradable, ownable digital assets. PoC provides consensus; VWA provides economic form.
Few Web3 entertainment projects possess comparable execution depth. Technologically, MEET48 benefits from large proprietary datasets and a 500-person R&D team spanning virtual humans, music/dance models, AI agents, and metaverse technology. Operationally, the team has built large-scale entertainment systems before, including five SNH48 sub-groups and a 30-million-fan ecosystem. For traffic cold start, MEET48 is bringing the SNH48 vote-on-chain, launching a Web3-native virtual idol game (AuditionsGO), and co-producing the world’s first AI Idol competition show with Tencent Video. These create direct pathways from mainstream audiences to on-chain participation.
As MEET48 evolves from an application into infrastructure, its long-term ambition is to establish a comprehensive Web3 entertainment ecosystem. MEET Labs is expanding into GamingFi and plans to build an EVM-compatible PoC Layer2 within the BSC ecosystem. This sidechain will integrate users, assets, applications, and creator economies into a unified environment, enabling scalable entertainment assetization, multi-industry traffic routing, and a global unified user system. Much like Binance built the BNB Chain as the financial backbone of Web3, MEET48 aims to construct the foundational infrastructure for on-chain entertainment — an “On-chain Netflix.”
IDOL, the ecosystem token, serves as the primary carrier of platform value. Mirroring the value capture logic of BNB, IDOL combines strong utility (voting, purchasing, content interactions) with dual burn mechanisms that reduce supply as ecosystem activity grows. Voting pool burns and transaction fee burns create structural deflation, while rising content and user demand drive token velocity. According to Hash Global, IDOL is currently at a stage comparable to BNB in 2019, with significant growth potential yet to be realized.
Ultimately, MEET48 is not merely building a product but pioneering a category. By combining AI, UGC, and Web3 economics with a proven entertainment engine, it is redefining how content is produced, owned, and monetized. Just as Netflix transformed the distribution era of entertainment, MEET48 is shaping the ownership and co-creation era of Web3.
On November 4, 2025, MEET48, Hash Global, and multiple partners jointly formed the “Web3 Entertainment Alliance” to promote industry collaboration, shared traffic, and cross-ecosystem development. The Alliance aims to accelerate mainstream user onboarding, support sustainable token economic design, and drive the global adoption of Web3 Entertainment.
Users can refer to the Hash Global official website for the full research report.
About MEET48
MEET48 is the world’s first AIUGC and fan economy ecosystem community focused on the entertainment industry. It is regarded as one of the largest Web3 application project teams globally, with a 500-member technical and R&D team and regional operations across Singapore, Hong Kong, Taipei, Tokyo, Seoul, and Dubai. MEET48 aims to achieve large-scale social adoption of Web3 technology (Mass Adoption) through an AIUGC content ecosystem centered on AIGC (Animation, IDOL, Game, and Comics) and a graphical, intelligent metaverse social infrastructure tailored to Gen Z entertainment trends.
Website: https://www.meet48.xyz/
Twitter (X): https://x.com/meet_48
Telegram: https://t.me/MEET_48