On October 21, 2025, the "MIRROR 2025 Film and Television Cultural Industry and Real Estate Investment (RWA) Cross-Border Integration High-End Forum," co-hosted by Mirror.fan and Ganxing Financial Private Board, kicked off at the Lumichang New Audiovisual Industrial Park in Dongcheng District, Beijing. Golden Finance was honored to have an exclusive interview with Wang Guowei, General Manager of China Film Holdings Co., Ltd. and former Vice Chairman of the China Film Foundation and CEO of China Film Network. The biggest opportunity in integrating entertainment and RWA lies in the securitization of IP. The value of RWA in entertainment assets can be assessed based on long-term returns, recognition, and easily identifiable income from anchor assets. Major IP and classic events are most worthy of "digitalization" or "assetization." Those entering the market now are pioneers, and many will also become martyrs. I hope those who arrive first don't ruin the pot. If the meal isn't tasty, you can always redo it. If the pot is broken, you can only eat the bread.
The details are summarized as follows:
1. What is the current market acceptance of entertainment RWA?
Entertainment RWA has been very well accepted in the UK and US markets, especially the interaction between artists and fans, which has created a very positive new relationship and model. In China, there is still no in-depth practice, and government regulators are not yet determined to open up this market.
2. Where are the biggest opportunities for the integration of entertainment and RWA? What are the biggest obstacles?
The core of entertainment is intellectual property (IP). IP securitization is the biggest opportunity. IP holders can use the funds and resources raised to incubate IP, which is believed to provide a significant boost to the entertainment market and industry.
The biggest obstacle is regulation. The involvement of professional intermediaries and service agencies is necessary. This was the case with P2P a few years ago: it was ruined by practitioners. Today's economic development has passed the stage of trial and error, and the cost of trial and error is very high. 3. What dimensions do you consider when evaluating the value of entertainment asset-based RWAs? First, long-term returns, or the long-tail effect, are essential; otherwise, market selection and pricing mechanisms will be lost. Second, recognition: strong buzz and public participation are essential. Third, easy definition of the income from the anchor asset. Of course, factors such as the operating team and the scarcity of similar assets also need to be considered. 4. This forum aims to establish a foundation for multilateral collaboration and develop industry standards for entertainment RWAs in China. What evaluation factors do you think should be included in these standards? An industry must exist before industry standards can be established. Establishing enterprise standards now presents a great opportunity. If enterprises succeed, industry standards will have persuasive power. Defining industry participants is crucial, as is establishing service organizations and ensuring compliance throughout the entire process. For example, pricing mechanisms, issuance mechanisms, underwriting mechanisms, secondary market trading, information disclosure, physical delivery and settlement, and liquidation are all aspects of this. This is a huge social practice. 5. Are there any current examples of entertainment RWAs being implemented? What new ways do you think entertainment RWA will play out in the future? There are numerous examples of entertainment RWA being implemented internationally, with singers, bands, documentaries, and others issuing tokens on the spur of the moment. The entertainment industry is full of creative people, capable of imagining anything they can't currently achieve. I believe many new ways to play will emerge endlessly. In the future, RWA will be a reality not just in entertainment, but in all industries that reflect individual and team creativity. AI is taking away blue-collar jobs, so let's innovate; creativity is a fundamental human attribute. 6. What new changes do you think the integration of film and television content with "assetization" will bring to the consumer experience and engagement of the general audience? Currently, we're seeing more IP assetization, not content assetization. With crowdfunding, combined with collective intelligence and even the integration of resources from across society under Web 3.0, even more exciting products will emerge. The benefits you gain will also be diverse. For example, in the future, XR experience centers could be free or offer discounted admission; trendy dolls could be given away for free; you could become a shareholder or token holder simply by contributing a few ideas; and your drawings could become the protagonists of film and television dramas... 7. What industry or cognitive barriers do you think need to be overcome in the cross-border integration of film, television, and entertainment with RWA? RWA in entertainment is undoubtedly the most exciting. As long as the corresponding national regulatory mechanisms are in place, and market access begins with local cultural exchanges, cultural and entertainment will usher in a new spring, and the culture of a major country will surely flourish. 8. In your opinion, what is the biggest change facing the film and television cultural industry today? What role can RWA or Web3 play in this? Globally, film and television are undergoing fundamental changes. Young people are no longer going to the cinema or watching TV, and even when watching online dramas, they're viewing them vertically. Overbearing CEOs, wealthy illegitimate sons, and other boring characters dominate the screen, and various short videos have soared the public's acting skills. On the other hand, XR (VR, NR, AR) experiences can satisfy audiences' craving for audiovisual stimulation. Is this a matter of waiting for a new technological breakthrough? Or is the film and television industry evolving into a product of the cultural tourism industry, returning to its rightful place? It remains to be seen. 9. In film, television, and cultural content, what do you think is most worthy of "digitalization" or "assetization"? Only well-known and widely recognized IPs are likely to become successful RWA cases. Classic landmarks, such as the Temple of Heaven, the Forbidden City, and Mount Kailash (meaning "Snow Mountain Treasure," located in Purang County, Ngari Prefecture, Tibet, and the main peak of the Gangdise Mountains; "Mount Kailash," a feature film written and directed by Zhang Yang, released in June 2017), can generate long-term returns, establishing a solid position and enduring cultural value. 10. What advice do you have for newcomers looking to enter the market? Those entering the market now are all pioneers, and many will, of course, become martyrs. However, society's inclusiveness is trustworthy. Be bold in experimenting and courageous in experimenting. Our only hope is that those who arrived first don't ruin the pot. If the food isn't tasty, you can always redo it. If the pot is ruined, you'll just have to eat bread.
Joy
