Warner Bros To Launch Lebron James And Space Jam NFTs
Milestone Date: September 12, 2021
Warner Bros has partnered with NFT platform Nifty’s to launch a collection of 92,000 NFTs related to the upcoming movie Space Jam: A New Legacy, which premieres on July 16, 2021. Nifty's aims to make the NFT collectible experience accessible and easy for fans who want to participate.
Accessing one of the Space Jam NFTs is simple. Anyone who creates a Nifty’s account and visits the Space Jam 2 gallery will automatically receive a free NFT, instead of having to purchase it for the normal price of $2.99. The NFTs will feature characters from the movie like Lebron James, Bugs Bunny, and Lola Bunny. For additional fan engagement, NFT holders are encouraged to share their new NFTs on social media. When they do, they will be given another free NFT. Suggesting a soft “Web2.5” landing and the likelihood of custodial wallet usage (where the presence of a crypto wallet is hidden from end users) for non-crypto natives, users will be able to purchase NFTs using fiat currency (via credit cards) or crypto, but they are limited to purchasing one per day.
This jump into Web3 for Warner Bros is an opportunity to explore a new marketing strategy, enhance the fan experience, and generate a new line of revenue. Answering the business model question, Warner Bros will receive a revenue share of each $2.99 NFT sold.
By Elizabeth Morrison
Published:July 12, 2021