Warner Bros. and Nifty’s released NFT from the new film Space Jam

Key facts:
  • LeBron James, NBA player and star of the film has his NFT.

  • Free and $ 2.99 tokens sold out in less than 24 hours.

Entertainment giant Warner Bros., joined non-expendable token (NFT) company, Nifty’s, to release a series of collectibles as part of the premiere of the film “Space Jam: A New Legacy”.

The NFT, which are exhibited on the new platform Niftys.com, feature the image of the protagonists of the film, among which the world basketball star stands out, LeBron James and the famous Looney Tunes characters: Bugs Bunny, Tweety, Porky Pig and others.

The launch of the tokens occurred on July 12, 4 days before the release of the film in the United States, which will be on 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 by free way, while another series of tokens cost $ 2.99. Both options were sold out in less than 24 hours.

However, film and token fans will still have the opportunity to acquire more Space Jam NFT. On the Nifty’s website they will be available, from July 26, various 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 made the launch through the blockchain of the company Palm NFT Studio, since reduce 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 NFT’s easier and more efficient to use with an Ethereum sidechain, and we have a roadmap to be a decentralized network later, ” the company describes.

The first free Space Jam NFT sold out in less than 24 hours.

For both companies, entering the growing market for collectable digital technology “sets a precedent” for the use of NFT by leading global brands, artists and creators to ” interact with their fans,” they highlighted in the document.

“We are excited to partner with Nifty’s in this new way for our audience to engage with their favorite characters and enjoy our movies on and off the screen,” said Pam Lifford, president of Warner Bros.

A new Nifty’s platform

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 supports 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 fluid experience that is easy and intuitive to navigate, even for tech beginners.” 

Company will enable the sale of non-expendable tokens and it expects to conduct auctions for certain digital collectibles, although they did not confirm the date on which this new option will start.

For the new platform, Nifty’s raised $ 10 million in a funding round, last March, involving Samsung Next, Palm NFT Studio, HENI, Coinbase Ventures, Topps, Forerunner Ventures, Dapper Labs, A&T Capital and BBTV Holdings.

Entertainment industry believes in NFT

The same way Warner Bros., the company Fox, one of its top competitors in the area of entertainment, launched $ 100 million fund, to support digital creators and artists, as reported by CriptoNoticias.

The initiative was driven by Fox’s new business unit, called Blockchain Creative Labs, which will have the function of trading and managing the tokens, as well as the rest of the company’s digital goods.

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