What, more crypto?
The debate rages around cryptocurrency and whether it will ever be the stable alternative to money as we know it. Millions of people around the world have invested in coins, and either made a fortune or lost a fortune instead. NFTs, on the other hand, are still very much in their infancy, and many people think they will be the blockchain breakthrough.
Warner Bros Discovery and HBO behind this project
Warner Bros Discovery and HBO are not names known to back losers, so it is with keen interest that NFT enthusiasts heard the announcement that Games of Thrones NFTs are coming this winter. A partnership has been forged with the NFT platform Nifty’s. A digital-collectable non-fungible token based on the hit series Game of Thrones is about to be launched. There is still no official date set for the launch, but there is certainly a buzz around this. With only a couple of weeks left in 2022, the release is expected imminently.
What is an NFT?
Just to clarify, NFT stands for non-fungible token. It has unique properties meaning it cannot be replaced or interchanged. An NFT is a digital asset that could be art, music or even clothing. It has an authentication certificate created with the same blockchain technology as cryptocurrencies. Because they are unique, they cannot be forged. Unlike physical art or pairs of trainers, they do not take up house space. Most NFTs reside on Ethereum’s blockchain.
What is this NFT?
Game of Thrones: Build Your Realm is heralded as a digital collectable experience that will be the first of its kind. It allows fans to form a unique connection with the series by collecting characters, avatars and even moment in time through themed activities. This will be the ultimate Game of Thrones collector experience.
Game of Thrones has a track record in brand extensions
Game of Thrones has not shied away from brand extensions in the past, and NFTs are regarded as another opportunity to delight its fanbase. While many eagerly await the promised sequel to the blockbuster fantasy drama, others have immersed themselves in the Game of Thrones world already on offer. For instance, there is a very niche GoT RPG game on Steam that has a loyal fanbase. Megaways slots developer Microgaming also offers a popular, branded GoT online slot game with bonus features. People are even known to have had GoT-themed weddings. Interest in the franchise shows no signs of slowing down.
Enhanced fan experience
Not only is there no launch date, but the company is yet to reveal pricing details. Josh Hackberth, head of NFT Commercial Development for WBD, said,
“Our goal, as always, with the fans, is to create new ways for them to interact with the stories and characters they love. We’re excited to expand the ‘Game of Thrones’ fandom and franchise with this unique digital collectable program that’ll engage fans on a deeper level, allowing them to immerse into the world of Westeros, and enhance the overall fan experience”.
A money-maker
While WBD will want to enhance the fan experience, they will also be hoping to generate additional revenue when they launch the Game of Thrones NFTs. The company made a net loss of $3.4 million in the year’s second quarter. In addition, after the merger of the two companies, they carried a debt load of $53 billion.
Collective cultural identity
Jeff Marsilio, CEO and co-founder of Nifty’s, said,
“Every so often, a film or television series comes along that pushes the boundaries of its genre so far it forever changes the creative landscape, becoming a part of our collective cultural identity. ‘Game of Thrones’ is that series for this generation.”
He added that Nifty’s was thrilled to be working on the project. He said Discovery Global Consumer Products keep pushing the bounds of creativity and imagination. He believes these NFTs will allow fans to connect in a way they have not been able to before. Daz 3D, a 3D content creation company, will also be working on the project. They are focused on the design, development and production of the NFT experience.
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