Warner Bros. announced Thursday that it is once again collaborating with Niftys for another NFT collection featuring Looney Tunes characters. The project, called “Looney Tunes: What’s Up Block?”, will serve to create a new narrative for the Looney Tunes franchise, the story of which will be revealed through the NFTs.
Tweety’s coming to Nifty’s! And that's not all folks. 😉
We're partnering with @WarnerBros to bring you Looney Tunes: What's Up Block?, a story-driven @LooneyTunesNFT program for the ultimate fan. There will be 10,000 Tweety Avatars at $80 each and more characters coming soon! pic.twitter.com/a7pqsXf0NM
— Nifty's (@Niftys) June 2, 2022
The launch of the NFTs will begin with Tweety Bird, who celebrates his 80th birthday this year. He will be the first character to appear, and will be followed by others such as Bugs Bunny and Marvin the Martian.
Looney Tunes NFTS
Warner Bros. hopes to entice buyers with a new storyline created especially for this collection. NFT owners will be able to “participate in fun activities and games as the story unfolds, both digitally and “in real life,” while earning rewards and benefits along the way.”
Benefits for NFT buyers include access to Looney Tunes merchandise, virtual encounters, never-before-seen content and new NFT drops.
“We think blockchain and NFTs and web3 in general are going to be a huge evolution in entertainment,” Josh Hackbarth, head of NFT business development at Warner Bros. told The Hollywood Reporter. “It doesn’t need to be a really deep narrative, but it’s about gags and gimmicks and really relatable characters, so it was fun to dig into that.”
Minted on Palm’s blockchain, the NFT collection will consist of avatars featuring Looney Tunes characters that buyers can use as profile pictures on social media platforms. Pre-sale of the Looney Tunes NFT collection begins June 20, with public sales starting the following day.
Looney Tunes is the third Warner Bros. IP to receive the NFT treatment. It is also Warner Bros.’ third collaboration with Niftys. The film production company released Space Jam: A New Legacy and The Matrix last year.
Despite the fear, uncertainty and doubts that have surrounded the cryptocurrency and NFT space in recent months, household names and celebrities have launched NFT, demonstrating that they see it as a promising avenue to explore new revenue streams and connect with their fans.
For collectors, minting an NFT allows fans to become part of a community where they can interact with others and experience their hobby in new ways.
Speaking to The Hollywood Reporter, Niftys CEO Jeff Marsilio said, “When you mint an NFT, fans are members of a community where they can interact with others and experience their hobby in new ways. “When you mint an NFT, you mint a community,” Marsilio added. “The key to the value in the NFT space comes from this idea of community…. A community where you’re not only being social, but you’re getting new opportunities to experience the IP you love, and you’re being rewarded for that participation.”