Major Licensor Jazwares and Hit Metaverse Gaming Brands Among First to Use the Platform
By Gary Symons
TLL Editor in Chief
Tech company BIP has launched a global IP licensing marketplace, with toy giant Jazwares and metaverse gaming brands already on board.
Metaverse games Brookhaven and Jailbreak are among the other brands signed on to the nascent IP licensing platform for its launch day.
BIP is essentially a platform that allows licensors and licensees find each other online and use online tools to close deals directly.
“The BIP licensing hub features several tools aiding in the deal making process, including real-time tracking enabling all users to easily track deal memo progress, virtual chat room communication, and post-deal management services,” the company says.
The company was co-founded by CEO Ari Zebersky, a serial entrepreneur who also co-founded a delivery app and service in Florida called Getchya, and Sunshine Gameday, a non-profit that helps underprivileged kids attend professional sporting events.
Zebersky says his new passion is bringing artificial intelligence and automation to the world of licensing, with BIP serving as a hub to provide brands with potential collaborations, help expand territory, and provide a wider range of product categories.
“BIP provides a powerful toolkit for all brands utilizing the platform—from the discovery of new and untapped licensing opportunities to creating new revenue streams—we’re there every step of the way to maximize value to these brands and streamline deals,” Zebersky says. “Our goal is to provide the licensing industry with the ultimate catalyst for brand collaboration, opening the door for IP expansion and impactful multi-category product extensions.”
BIP launched on March 1 with more than two dozen brands signed on, with the big fish bring Jazwares, a global toy company whose Squishmallow brand has become the hottest sensation in plush.
Jazwares says the web-based platform will initially be utilized by Jazwares to identify and forge new consumer product offerings in support of its Squishmallows plush brand as well as First Act, a musical instrument brand for aspiring musicians.
“At Jazwares, we always have our fingers on the pulse, tapping into the partners and technologies that maximize our licensing efforts, bringing them to the next level,” said Sam Ferguson, Senior Vice President of Global Licensing, Jazwares. “BIP enables us to have a 24/7, 365-day support solution to help find the best partners to bring our IP to life via a streamlined and highly intuitive online marketplace.”
Zebersky, along with co-founder Dylan Karofsky, and chief technical officer Ben Hakim M.D., says they initially developed BIP as an NFT-IP marketplace to focus on buying and selling in-demand IP. However, that more narrow focus quickly expanded into a multi-category network spanning consumer products, music, fashion, consumables, and more.
BIP recently hit its latest milestone having completed the pre-seed round of funding through a group of angel investors with significant experience in tech, investing, and – notably – the licensing industry.
“BIP marketplace revolutionizes how we currently think of brand activations,” explained Karofsky. “Brands finally have a go-to marketplace that enables them to recognize the true value of their brands.”
The company’s web page is now open for registration for licensors, licensees and agencies at www.bip.co.
The system’s main feature is its matchmaking service, but it also supports post-deal management with features like payment administration, a digital document storage vault, and real-time negotiation functionality.
The system by BIP is the second online licensing matchmaker, but the first TLL has seen that handles all types of licensing categories. Layer Licensing, an Australian company, launched their licensing platform last year, focusing exclusively on the licensing of video game IP, and the company has seen notable success since its inception. In February, Layer Licensing CEO Rachit Moti said the company was launching a major expansion with offices opening in Europe later this year.