Sharetimes, a Beijing-based culture and entertainment company, launched an intellectual property platform, in an effort to serve authors in China to create more works in comics, games, films, novels and music.

The platform, namely Star-overpower, collects over 1,000 IPs that represent over 1,000 celebrities in China. The IPs are open to authors, who are free to use the works in their films, comics, novels and games.

Wang Xin, founder and president of Sharetimes, said: "All of the IPs are open to authors, and we protect the copyright of their works. The larger the platform we offer, the more chances that the authors will create good works, and the greater value we can create. We make money only when the works are sold."

"Currently, many industry players refuse to open their IPs. The high license fee hinders the development of many startups. A great number of authors, who have many good ideas, cannot acquire IPs because of the high cost. If the situation continues, it is not conducive to the innovation of the entire industry, and it also hinders the development of social and cultural diversity," he said.

"China's IP industry contains vast development potential. Consumers, especially the post-1995 and post-2000 generations, are willing to pay for spiritual consumption," he added.

Data from New York-based Licensing International showed that in 2019, the global IP sales reached $292.8 billion, hitting a six-year record high. China's IP sales totaled $10.4 billion, up 7.9 percent on a year-on-year basis. China was among the fastest-growing IP markets in the world.

Micheal Tong, a Hong Kong actor whose image will be created to form an IP, said: "China does not have a platform like Marvel, which encompasses a great number of IPs with different characteristics. Therefore, such a platform is needed, so that people from all walks of life can be superheroes. The platform brings Chinese culture and Chinese stories to the world."

Ren Jian, a professor of the College of Communication and Art Design at the University of Shanghai for Science and Technology, said that virtual idols have become a new bright spot in the IP industry. At this current moment when product functions are homogenized and communication methods are the same, through the cultural empowerment of virtual idol IPs, unique and heterogeneous experiences and feelings can be created.

Sharetimes said that in the future, it will continue to create more virtual idol IPs with good virtues, such as kindness and courage. Through creating the IPs, it is hoped that children and parents can be inspired, and that the characters can resonate with everyone.