ViacomCBS said it is moving into the non-fungible token business with Recur, building a platform where fans can buy, collect and trade digital collectibles based on the company‘s consumer brands.
The platform is expected to launch in 2022. The collectibles would be based on brands including BET, CBS, Comedy Central, MTV, Paramount Pictures, Showtime and, of course, Nickelodeon.
“Fueled by beloved characters and iconic properties with multigenerational appeal, we are thrilled to accelerate our consumer products presence even further into the growing metaverse,” said Pam Kaufman, president, ViacomCBS consumer products. “In teaming up with Recur to create an NFT platform dedicated to ViacomCBS IP, voracious collectors and first-time NFT buyers alike will find unique opportunities to own a piece of their favorite franchises.”
All purchases on the platform will accept most U.S. digital payments via credit card and debit cards, Recur said.
“ViacomCBS is one of the first major media and entertainment companies to enter the metaverse in a significant way. We are so excited to welcome them into the ecosystem with this partnership. Our chain agnostic approach will provide fans the widest range of utility as well as unprecedented access to their favorite shows and franchises,” Recur co-CEOs Trevor George and Zach Bruch said.
In August, Fox said it made an investment in NFT company Eluvio, which will provide a platform to create collectibles based on content created by Fox Entertainment and its Bento Box animation unit. Rick and Morty creator Dan Harmon is making a new animated comedy for Fox called Krapopolis that will be based on NFTs and blockchain technology.
Digital distributor Cinedigm said it would sell NFTs based on some of the classic films from its Fandor subscription service.
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