One of the leading children’s brands worldwide is entering the world of non-fungible tokens. The move may be met with backlash and ridicule, but also provide some educational lessons for children along the way.
What happened: Sesame Workshop, owner of the iconic Sesame Street brandlaunches its first digital collectibles with Weavea company that is also used by The Walt Disney Co (NYSE:DIS) for NFTs of Star Wars, Marvel and Disney Animation characters.
The first NFT to launch as part of the collection is the Sesame Street character Cookie Monster, according to a report from Variety.
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There will be 5,555 of the Cookie Monster NFTs with a price point of $60. NFTs on VeVe are purchased with the company’s in-app currency Gems rather than spending Ethereum (CRYPTO: ETH) like many traditional NFTs.
The NFTs on VeVe use Immutable X (CRYPTO: IMX), an Ethereum Layer 2 scaling protocol
Cookie Monster NFTs will be released on March 19th in the VeVe app.
Sesame Workshop said there will be more digital collectibles from its brand released later in 2023.
“Partnering with VeVe for (Sesame Street’s) first collection of digital collectibles is a great way to celebrate (the show’s) enduring legacy and give our longtime fans a new way to showcase their love of Sesame Street and its characters,” Sesame Workshop Vice President Jennifer Ahearn so.
Related Link: What is a Non-Functional Token (NFT)?
Why it’s important: VeVe was founded in 2018 as a digital collectibles platform. The company is now among the leaders in big brand NFT launches with more than eight million NFTs sold to date. The company has partnerships with Disney, Marvel, DC Comics, Star Wars, Warner Bros. and more.
“Sesame Street is one of the most iconic brands of all time, so we jumped at the opportunity to partner with Sesame Workshop on a series of digital collectibles,” VeVe Co-Founder and COO Dan Crothers so. “We look forward to sharing these with our VeVe community of collectors as well as Sesame Street fans who may be new to digital collectibles.”
Sesame Street is one of the biggest children’s brands, thanks in large part to its decades of content and airing on public television. New episodes of Sesame Street are now airing on HBO Max, a streaming platform from Warner Bros. Discovery Inc (NASDAQ:WBD). The episodes then air on PBS at a later date.
NFTs increased in popularity in 2021 and parts of 2022 thanks to demand from collectors and investors.
While many of the NFT collections were created by artists and Web3-based companies, popular consumer brand companies, athletes, actors, and musicians launched their own NFT collections.
NFT platform Repeat has brought several children’s brands to the NFT space in the past, including Hello Kitty, Care Bears and Nickelodeon characters.
Read next: NFT opportunities for Disney are ‘extraordinary’, how Bob Iger’s return could drive Web3 growth
Photo: VIAVAL TOURS via Shutterstock
