In the world of cryptocurrencies and blockchain, there may be no other item more confusing to the general public than non-fungible tokens, or NFTs. Many celebrities, and those in the know when it comes to selling digital data, have advertised their own NFTs for sale. Now, one of the most well-known cartoons from childhood, Looney Tunes, is being transformed into an NFT collection, where many potential buyers can attempt to collect all of them before they become rare pieces.
As reported by The Hollywood Reporter, the animated Looney Tunes cartoon characters are getting in on the action of NFTs. Warner Bros. is adding to its current business by working with the NFT platform Nifty’s, releasing several of its most popular characters on the blockchain. According to the Nifty’s website, this experimental project will be referred to as “Looney Tunes: What’s Up Block?” and will start selling its products later this summer. The first character to go on sale will be Tweety, marking Tweety’s 80th birthday. There are currently plans for other characters to be featured, including Marvin the Martian and Bugs Bunny. Several others may follow if the proposed NFTs are successful.
For those that aren’t aware by now, NFTs have become quite popular to round out a certain studio or product’s shelf life. By leaning on cult favorites and pop culture demand like Looney Tunes, many companies use NFTs as a way to market their collection of products, while also creating an additional item for sale to loyal fans. Since Looney Tunes have been around for more than 90 years, Warner Bros. may see an opportunity to use their current selection for more profit as this new venture will also provide access to special events and discounts on merchandise.
As the third collection from Warner Bros. to get turned into an NFT, Looney Tunes is in good company. To help advertise for the Lebron James film Space Jam: A New Legacy and Keanu Reeves’ The Matrix Resurrections, Warner Bros. got accustomed to using digital avatars that people can buy in order to be used on social media platforms like Instagram and Twitter. Within these NFT projects are pictures for proof, which have become some of the more popular forms of NFTs currently on the market. Celebrities have seemingly become almost like brand ambassadors when they purchase these NFTs as they too tend to change their social media profiles to reflect their new avatar.
Looney Tunes is a series of short film comedies that were originally produced by Warner Bros. starting in the 1930s through the end of the 1960s. This was seen as the golden age of animation, before such hits as The Flintstones, The Simpsons, and Family Guy entered the American airwaves. Looney Tunes is notable for many of its unique characters, which include Daffy Duck, Porky Pig, the Road Runner, Wile E. Coyote, Foghorn Leghorn, and many more. Their cultural impact on American audiences is now seen as iconic by many, and Warner Bros. owns the rights to distribute their likeness in various forms, which now will include NFTs.