Tweety Bird is the first Looney Tunes character to be reimagined as a profile picture (PFP) NFT avatar in Warner Bros.’s latest experimentation.
Move over, Bored Ape Yacht Club and Cryptopunks. Tweety Bird will be giving you a run for your money as it hits the blockchain as the first Looney Tunes character getting reimagined as a profile picture (PFP) NFT avatar.
It was announced that characters from Looney Tunes would be the next intellectual property (IP) of Warner Bros. to receive the NFT treatment in the company’s continuous experimentation in the NFT business. Once again, the company will be working with NFT platform Nifty on this project, dubbed “Looney Tunes: What’s Up Block?”
The NFTs will go on sale this summer. The beloved yellow canary, who turns 80 on November 21, leads all Looney Tunes characters in this reimagination, with others, including Bugs Bunny and Marvin the Martian, following suit.
Focus on Storytelling Aspect
For “Looney Tunes: What’s Up Block?,” Warner Bros. and Nifty are focusing on the storytelling aspect of the IP in the hopes of engaging buyers. Access to special events would also be incorporated into the project, as well as merchandise discounts and other physical rewards for NFT owners.
“We think that blockchain and NFTs and Web3, in general, is going to be a great evolution in entertainment,” says Josh Hackbarth, head of NFT commercial development for Warner Bros. “It doesn’t need to be really deep, deep storytelling; it is about gags and gimmicks and really recognizable characters, so it was a fun one to dig into.”
“Looney Tunes is not afraid to make fun of itself or the broader pop culture as a whole,” he adds. “It will be a bit tongue in cheek with how we are playing with blockchain technology, but what is more exciting is that we can use that to bring people into a new space to play.”
Third NFT Salvo
The Looney Tunes project is Warner Bros.’s third salvo into the NFT space. Last year, Space Jam: A New Legacy and The Matrix were also reimagined as NFTs. Similar to the Matrix project, the Looney Tunes NFTs will be PFPs that NFT holders can use as digital avatars on their social platforms.
However, unlike the Matrix NFTs, where the characters were purposely created for the project, the Looney Tunes NFTs will feature avatars of the brand’s current roster of recognizable characters. According to Nifty CEO Jeff Marsilio, he thinks this is the first major NFT avatar project to feature such.
Like the Matrix and Space Jam NFTs, the Looney Tunes NFTs will use the Palm NFT Network’s blockchain technology.
“There are lots of NFT projects, but there is only one Looney Tunes, so if we do it right and respect the IP and respect the existing community, I think there is a large fandom to it,” Marsilio says, adding that “when you own one of these avatars, that is sort of your membership in this community.”
“When you mint an NFT, you mint a community,” Marsilio adds. “The key to value in the NFT space comes from this idea of community, a community where not only are you being social, but you are getting new opportunities to experience the IP that you love, and you are being rewarded for that participation.”
“It’s more about, what are you buying into as a fan? And how is that different than what I could find on YouTube or somewhere else” Hackbarth says. “We are crafting a story that will only be told through this program, so for each subsequent drop and activity that we do with the program, there’s an overarching story component that ties it all together. It is really about keeping people engaged along the way.”
Major studios, media companies, and filmmakers in Hollywood are exploring the NFT space, making NFTs a hot commodity in the United States’ entertainment capital.
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