ViacomCBS to Sell NFTs Based on Nickelodeon and Paramount Content – The Hollywood Reporter

Need to purchase a non-fungible-token (NFT) of Spongebob Squarepants, Star Trek‘s Spock, or Mission Inconceivable‘s Ethan Hunt? You may quickly get your likelihood.

ViacomCBS is partnering with NFT firm Recur to develop and promote digital collectibles based mostly on its huge library of movies and TV exhibits. In an announcement Wednesday, ViacomCBS shopper merchandise president Pam Kaufman mentioned that “voracious collectors and first-time NFT consumers alike will discover distinctive alternatives to personal a chunk of their favourite franchises” by the deal.

The businesses will launch a platform in early 2022 the place customers can purchase, acquire and commerce NFTs based mostly on mental property from CBS, Paramount Photos, Nickelodeon, Comedy Central, MTV, Showtime and BET. Consumers will be capable to use credit score or debit playing cards to purchase the NFTs, eliminating the necessity to use cryptocurrency for the purchases.

Whereas NFTs have been an space of curiosity for the leisure business in current months, ViacomCBS is the biggest firm within the sector to make a big corporate-level transfer into the area. The hope is to construct a enterprise that may add to current traces of merchandise (like clothes or toys) and collectibles (like buying and selling playing cards), however with out the friction of getting to go to a retailer.

In July, Lionsgate introduced a cope with one other NFT platform, Autograph, to promote NFTs based mostly on its content material like John Wick and Mad Males. And in June, CNN started promoting NFTs of a few of its historic information protection. Fox Corp., in the meantime, introduced a brand new enterprise unit, Blockchain Inventive Labs, and invested $100 million right into a inventive fund to develop its crypto and NFT enterprise, although to this point it hasn’t launched any gross sales.

Some NFT corporations are looking for to enter the leisure enterprise by leveraging the IP they’ve created on the blockchain. Larva Labs, which created the NFT initiatives CryptoPunks and Meebits, signed with UTA for illustration within the movie, TV and gaming area.

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