'Space Jam' NFTs launch — and crash

“Space Jam: A New Legacy” is everywhere this summer, including your NFT collection. Niftys.com, which calls itself the first-ever social platform for non-fungible tokens, launched today with a line of characters from the rebooted 90s movie now starring LeBron James. The platform, which was set to go live Monday morning, may have experienced more traffic than expected. It suffered some first-day technical difficulties and wasn’t live until early afternoon. A representative did not say what caused the delay. Teaming up with “Space Jam” was a smart choice for Nifty’s as there is a fervent audience eager to see James and the Looney Toons gang on screen this summer. Set for release this Friday, the movie has been widely anticipated and will begin streaming on HBO Max and in theaters on July 16th. Warner Bros. has teamed up with over 200 brands to promote the film, from Kraft Mac and Cheese to GameStop and McDonalds, which helped land the flick on Ad Age’s list of America’s Hottest Brands this year. Read More about America’s Hottest Brands here. Nifty’s says its goal is to provide users an accessible entry point into the world of NFTs, reflecting a core belief that NFT’s should be for everyone, regardless of income level or tech sophistication. NFTs, or non-fungible tokens, are one-of-a-kind digital collector's items. The NFT market touts these products as singular, irreplaceable works of art or iconography. The owner of such digital items acquires not only the piece but the claim of ownership. Like "Space Jam," NFTs were also recognized on Ad Age's list of America's Hottest Brands. The limited-edition "Space Jam" NFTs are designed to help Nifty's invite a wider audience into the world of crypto-backed virtual art dealing. The pieces are free to those who register for the platform and visit the "Space Jam: A New Legacy" gallery to claim it. Users can earn a second NFT by sharing about the collection on social media. Unlike some record-breaking NFT’s, the "Space Jam" collab is not cost prohibitive, with two free NFTs sponsored by investor Palm NFT Studio. Hear more about which brands are thriving right now—and why—at Ad Age In-Depth: Hottest Brands on Tuesday, July 13. RSVP at AdAge.com/HottestBrands.

'Space Jam' NFTs launch — and crash

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