Music label T-Series has announced its foray into the metaverse with launch of non-fungible tokens (NFTs) in association with HEFTY Entertainment, a division of Hungama Digital Media. For the launch of NFTs, the companies have tied up with Polygon, an ethereum scaling and infrastructure development.
Hungama Digital Media is one of the largest digital media entertainment companies in South Asia, with over 90 million monthly active users (MAUs) across music, gaming and video and T-Series has the world’s largest subscriber base on YouTube with a total subscriber base of over 395 million users.
Hefty Entertainment is a web 3.0 initiative by Hungama.
As per the companies, T-Series and Hungama will leverage their extensive global distribution network and an enviable library spanning two lakh songs and 65,000 music videos and 150+ films across Indian languages.
Hefty Metaverse will be built with the vision of fostering an ecosystem that helps to collaborate, interact and engage with flourishing web 3.0 communities that transitions consumers into the metaverse. This will see Hungama create NFTs, rare collectibles and ‘money can’t buy experiences’ and unlocking special moments from T-Series’ vast catalogue of new and existing content.
Bhushan Kumar, chairman and managing director, T-Series, commented, “We look forward to expanding and enhancing the value of our content that leads to a further and rapid expansion of the global digital entertainment industry. Offering a future full of potential, interactivity and collaboration for our communities around the globe.”
Neeraj Roy, founder, Hungama, said, “We are delighted to extend our long-standing partnership with T-Series and establish ourselves as first-movers 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. Our partnership with T-Series has strengthened with time and it is most commendable what Bhushan Kumar and his amazing team have built in the last few decades. We’re very excited to hold hands with them to enter the metaverse and we promise to give billions of fans of Bollywood globally an experience that will see value accrue to them on our platform.” LiveMint