In a press release published on 12 July, blockchain company Nifty’s announced the official launch of its social NFT platform. The launch follows a $10 million seed round completed earlier this month, which saw investments from Coinbase Ventures, Dapper Labs, Polaroid, Samsung Next, and Polychain Capital.
The company also announced a partnership with Warner Bros. that will introduce a collection of limited-edition Space Jam NFTs. Warner Bros. “Space Jam: A New Legacy” will become one of the first major motion pictures to employ blockchain technology. The studio will award one NFT to each individual who registers on Nifty’s and visits the “Space Jam: A New Legacy” gallery to claim it. Fans of the live-action sequel to the popular 90s movie will also have the chance to earn a second NFT by sharing a social media post about the collection.
According to the company’s release, the NFT series will feature NBA star LeBron James and eight characters from the Looney Tunes “Tune Squad.”
The NFTs were developed by Palm NFT Studio, which employed advanced blockchain technology to introduce a more efficient way to mint NFTs. For a limited time, the company will sponsor the transaction fees for the Space Jam NFTs, which means the awarded tokens will be entirely free for those who earn and claim them.
“The speed and strength of our platform’s development is a testament to the incredible talent of our team and was made possible by a group of investors who have given us the resources to accomplish our goals,” said Jeff Marsilio, CEO and Co-Founder of Nifty’s.