Hello Kitty NFTs are coming: Here are the details
Hi Kitty and friends enters the world of non-fungible tokens (NFT).
Here are the details of the Hello Kitty parent partnership Sanrio and NFT company Repeat.
What happened: A collection of 10,000 NFTs will launch with six characters from the Hello Kitty and Friends brand on August 25, 2022.
The NFTs are collectable and holders will earn new digital collectibles as they complete challenges and travel to eight iconic cities around the world, two cities will be exclusive to Recur Pass holders.
Clues to characters and locations will be revealed via Recur Twitter prior to launch. Returning passport holders will get early access to the NFT sale.
“We are thrilled to create a platform for all Hello Kitty fans, old and new, to fly and experience the metaverse through Hello Kitty and Friends World,” Recur’s Founder and CEO Zach Bruch so. “Our goal is to provide a community where fans can interact and explore the metaverse of brands and IPs they love.”
Recur uses proof-of-stake layer-2 blockchain Polygon MATIC/USD for their coins.
The NFTs can be withdrawn to any Web3 wallet on any blockchain thanks to a multi-chain launch from Recur in April.
Related link: How to buy NFTs
Why it’s important: Sanrio and Recur announced a partnership to bring the iconic character to NFTs back in November 2021.
The Recur Pass went on sale in December for 24 hours and gives exclusive early access to several drops on the platform.
Recur was valued at $333 million in September with a new funding round of $50 million. At the time, this was the largest A series in the NFT space. Returning investors included Steve Cohen, The twins, Gary Vaynerchuk (Gary Vee), David Choi, Jason Derulo and Ethereum ETH/USD co-founder Joe Lubin.
Recur recently partnered with Nickelodeon, a unit of Paramount Global Inc. PARAPARA, for an NFT collection launch. Nickelodeon launched a collection of NFTs based on “Rugrats” and “Hey Arnold!” cartoons.
Rugrats and Hey Arnold! NFTs were sold in packs for $50 and had strong resale value in unopened packs and revealing images. The collection had a sales volume of over 1,600 ETH on OpenSea, a leading NFT marketplace. The floor price for the NFTs is 0.1 ETH, or around $141, at the time of writing.
Created in 1974, Hello Kitty is one of the most famous global lifestyle brands.
Sanrio has a presence in over 130 countries around the world.
