Music label, publisher and Indian film studio T-Series has announced its foray into Non-Fungible Tokens (NFTs) in association with Hefty Entertainment a division of Hungama, a digital media entertainment company.
Hungama joins hands with T-Series which has a total subscriber base of over 395 million users on YouTube with an equally large community of 75 million followers on social media across Facebook, Instagram and Twitter.
This will see Hungama create NFTs, rare collectibles and ‘money can’t buy experiences’ and unlocking special moments from T-Series’ catalogue of new and existing content.
This foray for the global digital entertainment industry will witness the two leaders raise the bar of entertainment creation and consumption via Hefty Entertainment - A Web 3.0 initiative by Hungama.
This has been done in partnership with Polygon - the platform for Ethereum scaling and infrastructure development.
This strategic partnership between the two companies is built on a long standing 20-year association between T-Series and Hungama. T-Series and Hungama shall leverage their global distribution network and an enviable library spanning two lakh songs and 65,000 music videos and 150+ films across Indian languages.
Hefty Metaverse will be built with the vision of fostering an ecosystem that helps to collaborate, interact and engage with flourishing web 3.0 communities that transitions consumers into the metaverse.
Bhushan Kumar, Chairman and Managing Director - T-Series, said, “We’re delighted to extend our alliance with Hungama, spanning two decades, and enable our community with access to the Metaverse. Having set the ball rolling, we look forward to expanding and enhancing the value of our content that leads to a further and rapid expansion of the global digital entertainment industry. Offering a future full of potential, interactivity and collaboration for our communities around the globe.”
Neeraj Roy, Founder – Hungama, shared, “We are delighted to extend our long-standing partnership with T-Series and establish ourselves as first-movers into the Metaverse of entertainment. We look forward to redefining content consumption with this Web 3.0 initiative as we find new ways to collaborate and engage with fans. Our partnership with T-Series has strengthened with time and it is most commendable what Bhushan Kumar and his amazing team have built in the last few decades. We’re very excited to hold hands with them to enter the metaverse and we promise to give billions of fans of Bollywood globally an experience that will see value accrue to them on our platform.”
Neeraj Kalyan, President, T-Series, said, “T-Series has demonstrated its leadership position on the back of innovation and adoption of new technology advancements as we have continued to drive distribution across ever-evolving digital landscape. T-Series and Hungama’s partnership is built on mutual trust and we will continue to consolidate into more meaningful avenues, akin to our foray in the NFT space.”
Siddhartha Roy, CEO- Hungama, said, “ Hungama is looking forward to offer immersive experiences in the Web 3.0 metaverse to its large communities nurtured over time, across 40+ countries, with over 150+ global distribution partnerships.”
The partnership aligns with Hungama's aim to explore and develop innovative ways to entertain and engage audiences across the world. Together with T-Series, the two aim to redefine how content is created and owned as they remain a force to be reckon with in the global music, gaming and film industry.