Entertainment industry giant Warner Bros. teamed up with non-expendable token (NFT) company Nifty’s to launch a series of collectibles as part of the premiere of the film “Space Jam: A New Legacy ».
The NFTs, which are exhibited on the new Niftys.com platform, feature the image of the film’s protagonists, among which the world basketball star stands out, LeBron James and the famous Looney Tunes characters : Bugs Bunny, Tweety, Porky Pig and others more.
The launch of the tokens took place last 12 July, 4 days before the film’s release in the United States, which will be July 16, according to a statement.
Digital collectibles include two-dimensional and three-dimensional versions with five levels of rarity.
The first delivery of the tokens was made for free, while another series of tokens had a cost of USD 2.99 . Both options were sold out in less than 24 hours.
However, movie and token fans will still have the opportunity to acquire more NFT from Space Jam. On the Nifty’s website will be available, from July 26 , several collectibles of Bugs Bunny and other characters from the film in the categories of common, uncommon, rare, epic and legendary.
In the case of the commons, 3,000 copies were issued; of the rare there are 1,500; of the rare there are 500; of the epics are 100; and of the legendary there are only 10 .
Nifty’s launched through the blockchain of the Palm NFT Studio company, since reduce the energy consumption by 99% , according to the company. Although they do not give any reference for this comparison, it can be assumed that it is with respect to Ethereum, the network on which most collectible tokens are issued.
«Palm is designed from the ground up, so that it can be adjusted to the creativity of the artists. We are making NFTs easier and more efficient to use with an Ethereum sidechain, and we have a roadmap to be a decentralized network later on, ”the company describes.
For both companies, entering the growing market for collectible digital technology “sets a precedent” for the use of NFT by major brands, artists and creators worldwide to “engage with their fans,” highlighted in the document.
“We are excited to partner with Nifty’s in this new way to engage our audiences with their p Favorite characters and enjoy our movies on and off screen, ”said Pam Lifford, President of Warner Bros.
A new platform from Nifty’s
The Miami-based NFT company also announced the launch of Niftys.com, NFT’s social platform dedicated to bringing digital collectibles to the general public . It is compatible with payment methods in cryptocurrencies through digital wallets based on the Ethereum blockchain and with credit cards.
According to the company, the new platform allows users to “enjoy a seamless experience that’s easy and intuitive to navigate, even for tech novices.
The company will enable the sale of non-fungible tokens and expects to hold auctions for certain digital collectibles, although they did not confirm the start date to this new option.
For the new platform, Nifty’s raised USD 10 million in a financing round, last March, in which Samsung Next, Palm NFT Studio, HENI, Coinbase participated Ventures, Topps, Forerunner Ventures, Dapper Labs, A&T Capital and BBTV Holdings.
The entertainment industry believes in NFTs
In the same way as Warner Bros., the Fox company, one of its main competitors in the entertainment area, launched a fund of USD 100 million , to support digital creators and artists, as reported by CriptoNoticias.
The initiative was imp ulsada by Fox’s new business unit, called Blockchain Creative Labs, which will have the function of marketing and managing the tokens, as well as the rest of the company’s digital assets.
