Mumbai: Music and film studio T-Series has announced its foray into Non-Fungible Tokens (NFTs) in association with Hefty Entertainment - a division of digital media entertainment company Hungama. According to a statement, the association brings together the latter’s 90 million+ monthly active users (MAUs) across music, gaming and video to join hands with T-Series’ over 395 million YouTube subscribers base and 75 million followers on social media across Facebook, Instagram and Twitter.
"The strategic partnership between the two companies is built on their 20-year-old, long-standing association. T-Series and Hungama will leverage their global distribution network and a library spanning two lakh songs, 65,000 music videos and 150+ films across Indian languages to create the next big digital revolution," said the statement.
“We are delighted to extend our two-decade-long alliance with Hungama, and to enable our community with access to the Metaverse," said T-Series chairman and MD Bhushan Kumar. "Having set the ball rolling, we look forward to expanding and enhancing the value of our content that leads to the rapid expansion of the global digital entertainment industry, and offering a future full of potential, interactivity and collaboration for our communities around the globe.”
The foray will witness the two entertainment brands raise the bar of entertainment creation and consumption via Hefty Entertainment (a Web 3.0 initiative by Hungama), and in partnership with Ethereum scaling and infrastructure development platform, Polygon. Hefty Metaverse will be built with the vision of fostering an ecosystem that helps to collaborate, interact and engage with flourishing web 3.0 communities.
Hungama will create NFTs, rare collectibles and ‘money can’t buy experiences,' in addition to unlocking special moments from T-Series’ catalogue of new and existing content.
“We look forward to redefining content consumption with this Web 3.0 initiative as we find new ways to collaborate and engage with fans. We promise to give billions of fans of Bollywood, globally, an experience that will see value accrue to them on our platform,” said Hungama founder Neeraj Roy.
“T-Series has demonstrated its leadership position on the back of innovation and adoption of new technology advancements to drive distribution across the ever-evolving digital landscape," stated T-Series president Neeraj Kalyan. "T-Series and Hungama’s partnership is built on mutual trust and we will continue to consolidate into more meaningful avenues, akin to our foray in the NFT space.”
