NFT: ViacomCBS ventures into non-fungible token space via partnership with Recur and launch of digital collectibles platform

ViacomCBS, an American mass media and entertainment company, is jumping into the non-fungible token (NFT) bandwagon through its new partnership deal with Recur, a leading Miami, Florida-based tech group that is focused on NFT business.

It was reported that ViacomCBS signed a multi-year deal with Recur to build a platform for IP and franchise. Moreover, the deal will also allow the former to launch its own digital collectibles platform that will feature its brands.

It was said that the new ViacomCBS NFT platform is expected to be unveiled in the spring of 2022. Likewise, through the said platform, the company will be offering digital collectibles based on its broad portfolio and fans can also start buying and trading NFTs here, as per Deadline.

The unique digital assets will mostly consist of art and items related to entertainment. These will be mostly collectors’ items where both the company and creators can both benefit from especially in terms of revenue.

“Fueled by beloved characters and iconic properties with multi-generational appeal, we are thrilled to accelerate our consumer products presence even further into the growing metaverse,” ViacomCBS’ president for consumer products, Pam Kaufman, said in a press release. “In teaming up with RECUR to create an NFT platform dedicated to ViacomCBS IP, voracious collectors and first-time NFT buyers alike will find unique opportunities to own a piece of their favorite franchises.”

ViacomCBS further revealed that some of the brands that will be featured on its upcoming NFT platform include Nickelodeon, Showtime, Comedy Central, MTV, CBS, BET, and Paramount Pictures. The firm said that users and digital asset enthusiasts could use most debit or credit cards to pay for their purchases.

Trevor George and Zach Bruch, co-CEOs of Recur, said in a joint statement that they are excited to welcome ViacomCBS into its NFT ecosystem through their new deal. They promised to provide fans with the broadest range of utility and offer unrivaled access to their favorite programs and franchises.

Lastly, the company’s chiefs commented regarding the entertainment firm’s entrance into the field, “ViacomCBS is one of the first major media and entertainment companies to enter the metaverse in a significant way.”