Space Jam: A New Legacy is the biggest non-fungible (NFT) token collection for a movie ever with nearly 100,000 items up for sale.
Warner Bros. sent a shockwave through the NFT word on Monday with the announcement of a new NFT collection tied to the soon-to-be-released Space Jam sequel, Variety reports. The collection contains a staggering 91,000 limited-edition NFTs featuring characters from the movie Space Jam: A New Legacy, including future NBA first-ballot Hall-of-Famer LeBron James. Eight Looney Toons characters will be featured including Bugs Bunny, Tweety Bird, Daffy Duck, and Porky Pig.
Part of the NFT sale is aimed at making sales of this nature easier to jump into for the average consumer. With that goal in mind, the collection is offering a pair of free NFTs to get people started and understand ownership of digital assets a bit better. To claim one, users must register at Nifty’s, the startup that is hosting the launch. The other free NFT can be earned by sharing a post about the giveaway on social media. Other than that, the remaining NFTs can be purchased on Nifty’s for $2.99 each.
The NFTs will all be sold at that flat rate, which does make them much less exclusive than other similar tokens, but the Space Jam collection is more about offering them to everyone. To make collecting more interesting, a rarity scale was added to the set so, much like buying a pack of baseball cards, you have a chance to get ultra-rare variants of each NFT. The rarest category, called Legendary tier, will only see ten copies of each card printed.
The two free-to-earn cards are not an exception to this and, as all sales of the Space Jam collection, will be randomized and include all levels of rarity.
Warner Bros. working to bring NFTs to the masses
Palm NFT Studios worked with Warner Bros. to develop the Space Jam collection. The company provides an energy-efficient way to mint NFTs for the mass market that reduces power usage by 99% according to Palm NFT Studios.
Nifty’s was considered a surprise choice for many to play host to this massive collection because they are a very young startup with much less experience than many at handling such a project. Pam Lifford, President of global brands and experiences for Warner Bros., stated that the two companies had shared goals of bringing NFTs to the average everyday household. “That goal, combined with our constant focus on creating lasting connections for our fans, is what makes this NFT program so exciting for us,” she said. “And while NFTs are growing in popularity, we’re excited to work with Nifty’s to bring these fan engagement opportunities to the next level.”
According to CEO and Co-founder of Nifty’s, Jeff Marsilio, “we’re emphasizing community, engagement, discoverability, things that go beyond buying and selling.”
BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.