Music label T-Series joined hands with entertainment company Hungama’s division HEFTY Entertainment to foray into the Non-Fungible Tokens (NFT) ecosystem.
It runs the biggest channel on YouTube by both numbers of views and subscribers. The T-Series YouTube channel has over 205 million subscribers and a total of 177.6 billion views across its video, way ahead of Moonbug Entertainment’s Cocomelon Nursery Rhymes channel. It stands at second with 127 million subscribers and a total of 119.18 billion views.
Hungama Digital Media Entertainment is a Mumbai-based digital entertainment company that boasts over 90 million monthly active users. It was initially launched in 1999 by Ashish Kacholia, Hiren Ved, Lashit Sanghvi, Rakesh Jhunjhunwala, and Neeraj Roy as an online promotions agency.
Together, both organisations will be creating the ‘Hefty Metaverse’, where Hungama will create NFTs and other collectables leveraging their joint library of two lakh songs, 65,000 music videos and more than 150 films across various Indian languages. The metaverse will supposedly be created in partnership with Polygon.
Last year, crypto users spent the equivalent of $40.9 billion on NFTs, compared to less than $1 billion the previous year. We have already compiled a list of the torrent of Indian celebrities that have jumped on the NFT bandwagon last year, which you can read here. But this partnership could potentially make such an exhaustive list inconceivable for this year with the number of Bollywood celebrities on each company’s platform.