ViacomCBS gets into NFTs via a partnership with Recur
Media company ViacomCBS will be jumping onto the NFT bandwagon as well. They will be partnering with Recur, an NFT company, for bringing their iconic franchises and IP to the digital collectibles world next year. ViacomCBS is a big media company that has a deep catalog of IP which could be transformed into digital collectibles. NFT or Non-Fungible tokens are digital assets that are linked to ownership stored on a blockchain and are used to buy or sell digital collectibles and art. Viacom will be selling collectibles and products from films and shows from their top brands including CBS, Showtime, MTV, BET, Comedy Central, Paramount Pictures, and Nickelodeon. Even though they haven’t disclosed which specific properties will be minted for NFTs, but, it’s safe to say that one of the most enduring and valuable franchises of the ViacomCBS, SpongeBob SquarePants, will be one of them.
There is not a lot of information available about the upcoming projects. However, the company has said that they will be creating a place for their fans to trade, buy, and collect NFTs across their portfolio. Also, the platform will be encouraging innovative ways for the users to have new experiences along with peer-to-peer engagement. This indicates that they will be adding a social element to the platform apart from just the aspects of the marketplace.
ViacomCBS will be one of the first big media and entertainment companies that have entered the metaverse at such a significant level. Through their chain-agnostic approach, they aim to provide their fans with unprecedented access to their favorite franchises and shows and the widest range of utility.