BBTV, Dapper Labs invest in social NFT platform Nifty's, Inc.
The move follows the launch of BBTV's NFT division in May of this year.
Vancouver-based BBTV Holdings Inc. announced its NFT Division has made a $250,000 USD minority investment into Nifty's, Inc, a social NFT platform dedicated to bringing digital collectibles to mainstream audiences.
The news coincides with the launch of Nifty’s platform, backed by investments from other notable investors including Vancouver’s Dapper Labs, as well as Ethereal Ventures, Draper Dragon Fund, Polychain Capital, Coinbase Ventures, Samsung Next, Tally Capital, Liberty City Ventures and Future Positive.
The move follows the launch of BBTV's NFT division in May of this year. The company hopes to leverage NFTs to help the creators they support engage fans and generate new revenue streams.
Today Nifty's announced a partnership that introduces a collection of limited-edition NFTs featuring characters from Space Jam: A New Legacy starring basketball superstar LeBron James.
"This investment and strategic alliance is another step forward for our NFT division as it provides BBTV and its creators with the opportunity for new revenue streams while empowering those creators to engage with their fan base in a more authentic way as the fans get to own a piece of the creators' IP," said BBTV CEO Shahrzad Rafati. "We already sit on a massive library of IP from some of the most engaging content creators in the world, we can now start to activate it through NFTs to further grow our higher margin Plus solutions."
BBTV said it plans to work with a number of NFT platforms to offer leading monetization opportunities for its content creators.