Nifty’s, Inc. is the first NFT-focused social media platform that brings together premium publishers, brands and creators with collectors, curators and the communities of fans together.
Nifty’s social NFT platform debuted to considerable excitement on Monday, following the announcement of a huge agreement with Warner Bros. and $10 million in seed funding from some of blockchain’s most prominent venture firms.
Nifty’s will release a collection of limited-edition NFTs featuring characters from the upcoming film Space Jam: A New Legacy, thanks to its Warner Bros. collaboration, the firm announced Monday. On Friday, July 16, the film will be released in theatres and on Netflix.
The Space Jam NFTs were created using the Palm NFT Studio technology, which was created by Ethereum software startup ConsenSys.
Samsung Next, Palm NFT Studio, Coinbase Ventures, BBTV Holdings Inc., HENI, Topps, Forerunner Ventures, Dapper Labs, A&T Capital, and Liberty City Ventures were among the investors in the $10 million seed round.
Polychain Capital, Ethereal Ventures, and Draper Dragon Fund are among the pre-seed investors who have increased their position in Nifty’s.
Samsung’s executive vice president and head of the Samsung Next venture group, David Lee, praised Nifty’s innovation in the NFT space:
“Our business strives to shape the future by identifying the technologies, trends and ideas that matter. […] What Nifty’s has developed in such a short time deeply impressed us, and we cannot wait to see how they shape the future of NFT engagement.”
Nifty’s NFT-focused social networking platform was first unveiled in March of this year, with big names like Mark Cuban and Joseph Lubin as investors.
The project’s ultimate goal is to develop a social media community for digital collectibles that promotes human relationships while supporting the emerging creative scene.
The increased mainstream acceptance of digital assets and, by extension, digital collectibles has boosted the NFT market in 2021.
NFT sales surpassed $2.5 billion in the first half of the year, according to Cointelegraph. The volume of NFT trade has also increased, with one estimate predicting a doubling in volume between May and October.