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Non-fungible tokens (NFTs) of entertainment franchises like The Hunger Games, Mad Men, John Wick and Dirty Dancing are in the works, as Lionsgate has signed a strategic partnership with Autograph, the NFT platform co-founded by Tampa Bay Buccaneers quarterback Tom Brady.
Autograph also announced a deal with Draftkings, which will exclusively sell sports-related NFTs on a new marketplace it is creating. Sports icons Tiger Woods, Wayne Gretzky, Derek Jeter, Naomi Osaka and Tony Hawk have signed on as advisers, and will exclusively sell their own NFTs through Autograph.
Lionsgate, meanwhile, will be the launch partner for Autograph’s entertainment vertical, beginning with NFTs from many of its core franchises.
“NFTs present a tremendous opportunity for mixed-reality world building experiences, deepening user engagement and interaction and fostering a community for our hundreds of millions of global consumers to create one-of-a-kind digital collections and Autograph is the optimal destination for this discovery,” said Jenefer Brown, executive vp & head of Lionsgate global live, interactive & location-based entertainment, in a statement.
NFTs are becoming a burgeoning nascent business for entertainment companies. Endeavor is exploring the space through its UFC business unit and its Frieze art fair, while Fox Corp. is giving its Blockchain Creative Labs a $100 million creator fund to kickstart the business. Fox is also launching an NFT-backed animated show called Krapopolis.
Even CNN is getting into the game, selling NFTs of some iconic moments from the cable news channel’s history.
The Lionsgate deal, however, shows the potential of NFTs for owners of intellectual property, who can partner with tech platforms like Autograph to develop their existing IP into NFTs.
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