Asia’s largest music label T-Series announced its entry into Non-Fungible Tokens (NFTs) through a joint venture with Hefty Entertainment, a division of Hungama, one of the largest digital media companies in South Asia.
The company has decided to release digital art pieces and non-fungible tokens (NFTs) for some of its films. Through the Hefty Entertainment – Hungama’s Web 3.0 initiative – both companies will raise the bar of entertainment consumption and creation.
Movies such as Aashiqui 2 and Radhe Shyam’s motion and illustration arts will be included in the first NFT release, which will have Akshay Kumar’s digital creative art for the movie Bhool Bhulaiyaa as well as the motion and illustration art from the upcoming film Radhe Shyam.
CMD of T-Series Bhushan Kumar said, “We are excited about expanding and enhancing the value of our content in order to lead to a further expansion of the global digital entertainment market. T-Series is committed to offering a future filled with possibilities, interactivity and collaboration.”
As part of the partnership, Hungama will create NFTs, collectables and ‘money can’t buy experiences’ while unlocking the best moments from the T-Series archive of new and existing content.
T-Series and Hungama will take advantage of their extensive distribution networks across the globe and enviable library of two lakh songs and over 65,000 music videos as well as 150+ films in several Indian languages.
The first to move into the entertainment metaverse
Founder, Hungama, Neeraj Roy said, “It is an honour to be the first entrant into the metaverse of entertainment. We look forward to redefining content consumption with this Web 3.0 initiative as we find new ways to collaborate and engage with fans.”
Hungama boasts 90 million monthly active users (MAUs), whereas T-Series boasts the world’s largest subscriber base on YouTube with over 395 million users.
Metaverses built by Hefty will be designed to foster an ecosystem that supports collaboration, interaction and engagement with the communities that transition consumers into the metaverse.
