Social NFT Project Nifty's Raises $10M, Partners With Entertainment Giant Warner Bros

The Miami-based Nifty’s, Inc. announced the launch of the project’s website which aims to reveal a non-fungible token (NFT) social platform focused on gathering mainstream attention. The company has also revealed it raised $10 million in a seed round from well-known investors like A&T Capital, Polychain Capital, Ethereal Ventures, Liberty City Ventures, Dapper Labs, Topps, Polaroid, and Samsung Next.

Nifty’s Partners With Warner Bros, Launches Space Jam NFTs

The new NFT venture Nifty’s announced Monday the launch of the project’s website niftys.com and further detailed that the company has partnered with Warner Bros., the American multinational mass media and entertainment conglomerate. Nifty’s will be working with Warner Bros. on NFTs tethered to the upcoming animated film “Space Jam” featuring LeBron James and the Looney Tunes characters. In four days, “Space Jam: A New Legacy,” will release in theaters and on HBO Max.

“We are excited to partner with Nifty’s on this new way for our audiences to engage with their favorite characters, connect with other fans and enjoy our movies on and off the screen,” Pam Lifford, president of Warner Bros. global brands and experiences, said in a statement. “Space Jam: A New Legacy is fun for everyone and it was important to us to give audiences new and exciting ways to celebrate their fandom.”

According to the announcement, Warner Bros. will distribute a single limited-edition NFT to anyone who registers on Nifty’s and also visits the Space Jam NFT collection page. Warner Bros. says the NFTs will feature the Los Angeles Lakers’ James and the Looney Tunes’ “Tune Squad.” The Space Jam: A New Legacy NFTs were produced by Palm NFT Studio which uses advanced blockchain tech that claims to reduce “energy consumption by 99%.”

“The digital collectibles will include two-dimensional and three-dimensional versions with five levels of rarity,” the entertainment company and Nifty’s announcement details. “Awards will be randomized and include all levels of rarity, including a chance to receive one of the ten legendary versions of each. Collectors will be able to purchase additional NFTs individually for only $2.99, with a randomized assignment of character and rarity.”

“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,” Jeff Marsilio, CEO and cofounder of Nifty’s, noted during the announcement. “We are thrilled to introduce Nifty’s to the world with exciting content from Warner Bros. and to launch our community as an inviting home base for new and experienced explorers of the NFT universe.”

Warner Bros Joins Prominent Brand Names Entering the NFT Industry

The announcement from Nifty’s comes as NFTs remain in the spotlight and major brand names and celebrities like Playboy, MLB, Mike Tyson, UFC, DeLorean Motor Company, TIME, USA Today have joined the NFT craze. David Lee, the executive vice president of Samsung Electronics and head of the VC firm Samsung Next, believes the team behind Nifty’s will help mold future trends. “What Nifty’s has developed in such a short time deeply impressed us, and we cannot wait to see how they shape the future of NFT engagement,” the Samsung Electronics president concluded.

Just recently, rumors went viral on the web that said Warner Bros. was planning on selling both Mortal Kombat’s Netherrealm Studios and LEGO dev TT Games. Warner Bros. is in the midst of a $43 billion merger and it was suspected that the company was offloading some intellectual property and subsidiaries. However, Warner Bros. denies the claims that it plans to offload Netherrealm Studios.