Non-fungible tokens, or NFTs have become wildly popular. So much so, “Sales jumped to more than $2.5 billion in the first six months of 2021, according to digital analytics firm DappRadar. The figure reveals the explosion in popularity for the digital tokens this year, evidenced by the fact that NFT sales in 2020, per DappRadar calculations, stood at just $94 million,” as reported by Insider Monkey. Some of the companies capitalizing on the NFT craze include ESE Entertainment Inc. (TSXV:ESE)(OTC:ENTEF), Twitter, Inc. (NYSE: TWTR), Cloudflare, Inc. (NYSE: NET), Mattel, Inc. (NASDAQ: MAT), Dolphin Entertainment, Inc. (NASDAQ: DLPN).
“NFTs are a form of cryptocurrency like Bitcoin, only instead of holding money, they contain assets like art and music,” added EuroNews.com. For example, “Kings of Leon became the first band to issue NFTs. They are selling three different tokens: one with their new album, another with live show perks like front row tickets for life, while a third contains exclusive audiovisual art. Clips of NBA star LeBron James dunking are selling for as much as $225,000.”
Look at ESE Entertainment Inc. (TSXV:ESE)(OTC:ENTEF), For Example
ESE Entertainment Inc. just announced that, in partnership with Bitcoin Vault, it has launched the first set of non-fungible tokens promoting the previously announced esports talent show, SkillzVault by Bitcoin Vault, which is being developed by ESE in partnership with BTCV.
An NFT is a digital asset that can be used to represent objects like art, music, and videos, and which is stored on the blockchain. NFTs are bought and sold online, and are becoming an increasingly popular way to buy and sell digital artwork because of the ability of blockchain technology to assure ownership.
This first set of NFTs launched in connection with SkillzVault by Bitcoin Vault included images of the character that represents South Korea in the tournament, which is the first country in which the tournament was launched. The 4 NFTs were made available on August 13th on the NFT marketplace AirNFTs, and sold out in just hours.
ESE and BTCV plan to release a set of NFTs for each of the 4 remaining countries in which SkillzVault by Bitcoin Vault will take place – China, Japan, Vietnam, and Brazil. SkillzVault by Bitcoin Vault is one of the first global esports tournaments with its own NFT collectibles. If the launch of the remaining SkillzVault NFTs continue to be successful, ESE will look into integrating NFTs in its other endeavors in the future.
SkillzVault by Bitcoin Vault is a global tournament in which participants from 5 countries – China, Japan, South Korea, Vietnam and Brazil – compete in the mobile games, PlayerUnknown's Battlegrounds (PUBG) and Peacekeeper Elite, to get the opportunity to compete in the finals alongside star gaming influencers from each of the participating countries. ESE is responsible for the production and infrastructure of the show, including the development of the project concept, media plan, technology implementation, marketing, and overall campaign roll-out. SkillzVault by Bitcoin Vault launched on August 2, 2021 in South Korea, and the Japan edition will follow on August 23, 2021. The project will conclude with a final in Brazil on November 21, 2021.
“We are still in the experiment phase with NFTs. The market has seen incredible growth in the past year, so we decided to release a series of NFTs together with ESE to create collectibles related to this unique event. This is just the first step, and more will come in the coming weeks while we advance into SkillzVault” says Radek Popiel, Chief Communications Officer at Bitcoin Vault.
“We had been internally conducting research and development around NTFs, and thanks to the cooperation with Electric Vault we’ve turned this concept into reality. We are thrilled to have taken our first step into the NFT space and capitalize on this opportunity” states Michal Mango, ESE Head of Strategy.
Other related developments from around the markets include:
Twitter, Inc.’s CEO Jack Dorsey sold his first tweet as an NFT for more than $2.9 million earlier this year, as reported by NDTV. “It was bought using the cryptocurrency Ether, for 1630.5825601 ETH, which was worth $2,915,835.47 at the time of sale, Cameron Hejazi, the CEO and co-founder of Cent confirmed.”
Cloudflare Stream just recently began supporting NFTs. In fat, according to a Cloudflare blog from April 2021, “We’re introducing a new API that takes a ERC-721 token ID and contact address and sets it on a video so every video on Stream can be represented with an NFT.”
Mattel, Inc. announced that Mattel Creations, the company’s collaboration and direct-to-consumer platform, is further evolving its toys as art collection to include a Non-Fungible Token series from the super-charged Hot Wheels brand. Breaking into this new market allows Mattel to expand across this emerging art space and advance the collector offering starting with three unique NFTs from the Hot Wheels NFT Garage™ Series.
Dolphin Entertainment, Inc., a leading entertainment marketing and premium content production company, and West Realm Shire Services Inc., owner and operator of FTX.US, announced a partnership to create large-scale, consumer-facing NFT marketplaces for major sports and entertainment brands. Dolphin will develop and execute the creative branding, production and marketing of these programs alongside FTX, who will use their crypto exchange services and technical development as the backbone of the marketplaces. Together, the award-winning production and marketing teams of Dolphin and the industry-leading team at FTX behind one of the largest crypto exchanges in the world will develop and program global NFT marketplaces targeting brands within the sports, film, television, music, gaming, eSports, culinary, lifestyle and charity industries.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for ESE Entertainment Inc. by ESE Entertainment Inc. We own ZERO shares of ESE Entertainment Inc. Please click here for full disclaimer.
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