A Warner Brothers Space Jam NFT collection has landed, comprising 91,000 pieces of digital art. Each item is being sold at just $2.99. The drop coincides with the theatrical release of ‘Space Jam: A New Legacy’, the long-awaited sequel to the classic movie, which arrives in cinemas Friday 16th July.
The series has already managed to smash existing records — ranking as the largest NFT collection ever created for a film. The non-fungible tokens feature characters from the flick. These include NBA Hall of Famer LeBron James, the main star, and Looney Tunes’ Bugs Bunny, Tweety Bird, Daffy Duck, and Porky Pig.
Easy and Accessible
According to reports, one of the aims of the collection is to make it easier for newcomers to get into NFTs and learn about digital ownership. It’s not clear whether this means encouraging children to explore the space. But, given ‘Space Jam’ is a kids’ franchise, we expect plenty of interest from minors. Presumably, this is part of the reason the price for each NFT is so low.
Furthermore, Warner Brothers has opted to use the Nifty marketplace for this huge drop. For those who have never used it, Nifty is a simple platform that takes little time to get to grips with. Nevertheless, experts have already expressed surprise at the choice of platform for such a huge project due to its comparative infancy. Adding to the selling points, fans can also claim a pair of non-fungible tokens for free.
“[The goal of bringing NFTs to as many people as possible], combined with our constant focus on creating lasting connections for our fans, is what makes this NFT program so exciting for us,” said Pam Lifford, President of global brands and experiences at Warner Brothers. “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.”
Not Super Rare
It should go without saying that with 91,000 NFTs in the collection, the ‘Space Jam: A New Legacy’ drop isn’t exactly rare. But that’s exactly the point — Warner Brothers and its partner on the series, Palm NFT Studios, want to bring tokens to the masses.
None of which means there’s no exclusivity here, though. A rarity scale exists, separating the most common tokens from those that are much harder to get hold of. The setup has been compared to physical baseball cards, with the top tier known as ‘Legendary’, and only ten of each created. Those claiming their two free starter NFTs should note these could come from any part of the rarity scale.
Fuelling the Warner Brothers Space Jam NFT Collection
There are so many items in this collection and such widespread concerns over the environmental impact of blockchain technology. As such you may be wondering whether the Warner Brothers Space Jam NFT collection is a good idea after all.
Rest assured, the studio has already thought about this. According to what we know of Palm NFT Studios, the minting process is highly energy-efficient, reducing power usage by a staggering 99% compared to Ethereum.
Aside from this collection, the NBA Top Shot marketplace has already proven a huge demand for basketball-related NFTs.
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This article is educational material.
As always, make your own research prior to making any kind of investment.
