Tuesday, August 16, 2022

Nifty, Warner Bros. Builds Social NFT Platform Together!

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Nifty is developing a joint project with Warner Bros.

The launch of Nifty’s social NFT platform, the company’s Warner Bros. and a $10 million investment from the industry’s largest venture firms.

Warner Bros developed in partnership with Nifty’s, announced that it will launch a limited edition NFT collection. It features characters from the soon-to-release Space Jam: A New Legacy movie. The movie will released in theaters on July 16, 2021.

Space Jam NFTs are developed with Palm NFT Studio technology developed by Ethereum software company ConsenSys.

Nifty Receives Investment From Big Companies
Nitfy’s $10 million investment round included many notable investors such as Samsung Next, Palm NFT Studio, Coinbase Ventures, BBTV Holdings Inc., HENI, Topps, Forerunner Ventures, Dapper Labs, A&T Capital, and Liberty City Ventures. Also, several angel investors including Polychain Capital, Ethereal Ventures and Draper Dragon Fund have increased their stake in Nifty.

David Lee, vice president of Samsung and head of the Samsung Next initiative group, commented on Nifty’s innovation in NFT:

“Our job is to shape the future by identifying key technologies, trends and ideas. We impressed with what Nifty has developed in such a short time, and we can’t wait to see the outcome.”

Nifty first announced its NFT-focused social media platform in March of this year. The ultimate vision of the project is to create a social media community for digital collections. It fosters the new medium of art while increasing personal interactions.

The NFT sector has become seriously popular in 2021. Thanks to the increasing interest in digital assets and therefore digital collections. As we reported earlier, NFT sales reached a volume of $2.5 billion in the first half of this year.

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