T-Series music label is all set to experiment with the new-age sectors of non-fungible tokens (NFTs) and the metaverse. T-Series has partners with Hungama TV’s Web3 venture call as Hefty Entertainment to proceed.
The Hefty metaverse will be support by Polygon blockchain, which also backs Ethereum scaling and infrastructure development.
T-Series and Hungama TV aim to become early adapters of the changes that will mold how people will consume content in the times to come.
Hungama will be creating NFTs from the vast catalogue of new and existing content parent by T-Series.
NFTs are digital collectibles base on a wide array of things including songs, movie clips, and even identities of celebrities that are supported by blockchain technology.
The metaverse can be explain as a fully functional virtual universe, which will thrive on the next 3D version of the Internet calls Web3.
NFTs can be interact with in the metaverse, making them important elements in the virtual world.
Bhushan Kumar, Chairman and Managing Director of T-Series, Said :
“We’re delighted to extend our alliance with Hungama and enable our community with access to the metaverse,”
Bhusan Kumar also said that the move could add to the overall expansion of the global digital entertainment industry.
Hungama Founder Neeraj Roy Said :
“We look forward to redefining content consumption with this Web3 initiative. We promise to give billions of fans of Bollywood globally, an experience that will see value accrue to them on our platform,”.
Details on the launch timeline and the kinds of NFTs that can be expect out of this partnership remain undisclose as of now.
Many Bollywood stars including Amitabh Bachchan, Sunny Leone, and Salman Khan have venture into the NFT space with their offerings and associations.
While the NFT craze is already gaining heat, the metaverse sector is also witnessing some interest among Indians.
