ViacomCBS enters NFT partnership
This opens the door to the possibility of SpongeBob SquarePants, South Park and Star Trek NFTs
ViacomCBS – a multinational mass media and entertainment conglomerate corporation that owns channels and networks such as Nickelodeon, Comedy Central, Paramount Pictures and MTV – has announced a partnership with RECUR, a non-fungible token (NFT) company.
The stated aim behind this move is for: “ViacomCBS and RECUR to create a unified environment where fans can buy, collect and trade NFTs as digital products and collectables across ViacomCBS’s leading portfolio of consumer brands.”
The NFTs will be launched in spring 2022 in a “space [that] will encourage peer-to-peer engagement and facilitate innovative ways for users to unlock new experiences”.
“One of the first major media companies to enter the metaverse”
Trevor George and Zach Bruch, co-CEOs of RECUR, said in a joint statement: “ViacomCBS is one of the first major media and entertainment companies to enter the metaverse in a significant way. We are so excited to welcome them into the ecosystem with this partnership.
“Our chain-agnostic approach will provide fans with the widest range of utility as well as unprecedented access to their favourite shows and franchises.”
Pam Kaufman, president of Global Consumer Products for ViacomCBS , said: “Fuelled 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.
“In teaming up with RECUR to create an NFT platform dedicated to ViacomCBS Intellectual Property (IP), voracious collectors and first-time NFT buyers alike will find unique opportunities to own a piece of their favourite franchises.”
The media conglomerate hasn't specified which properties it intends to create NFTs for, The company has so far only said that the NFTs will span brands including BET, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures and Showtime.
Reactions to the idea of SpongeBob SquarePants NFTs
As one of Nickelodeon’s most popular cartoon series is SpongeBob SquarePants, numerous people have speculated that the deal will mean that some of the NFTs that will be released through this partnership will be devoted to SpongeBob SquarePants, who is one of ViacomCBS’s most valuable and enduring franchises.
Some fans of SpongeBob have already taken to Twitter to publicise their disapproval of the cartoon character becoming an NFT.
Numerous tweets have also said that Stephen Hillenburg, the creator of SpongeBob SquarePants who passed away in 2018, would not approve of such a move, especially due to the environmental damage that can come with minting NFTs. Hillenburg was in fact a marine scientist educator before creating his legendary TV character.
Due to the networks and channels ViacomCBS owns, there is also a high chance of NFTs based on popular South Park and Star Trek characters being produced as well.