ViacomCBS Mines Content Library For NFTs

Seeing classic cartoons mined by cryptocurrency collectors probably wasn’t on many people’s predictions a few years ago, but here we are. ViacomCBS, in conjunction with Recur, will be developing digital collectibles based on IP from their brands for sale as NFTs. We asked Brandon Blake of Blake & Wang P.A for his expertise. 

 

ViacomCBS Mines Content Library For NFTs
                                                          Brandon Blake

ViacomCBS certainly has assets that will prey on Millennial nostalgia. With Spongebob Squarepants, Star Trek, and Mission Impossible, alongside many other franchises, there’s plenty to cultivate if you’re trying to tempt collectors. They may even lure a few first-time collectors to the table, too. 

                 

The collection will launch from a unique platform in 2022, where both buying and trading of the NFTs will take place. Interestingly, they’re opting to develop a credit/debit card payment option, too, meaning cryptocurrency can actually be eliminated from the transaction entirely. This could help persuade fence sitters to trust the unique NFT collectible system, which remains (for now) something of an unknown novelty in the entertainment industry. 

 

It’s not the first expansion we’ve seen into the NFT arena from an entertainment company, however. Lionsgate is using Autograph to sell NFTs from its content. Fox has created a new business unit around the idea, although we’ve yet to see it generate any sales. CNN has also used it for some snippets of historic news coverage. Yet ViacomCBS will be the first to make a corporate-level move into the space. Possibly it’s best to view it as an expansion of the idea of collectibles, trading cards, and toys, but using the online space to entice those who don’t want to have to go to stores for their nostalgia fix. 


While some in the know are not yet sold on the idea of NFTs overall, the removal of the controversial cryptocurrency from the transaction could give this latest news from ViacomCBS some serious pulling power. Our entertainment attorney and resident business expert will be watching carefully.

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