T-Series, Hungama enter Metaverse with NFTs

T-Series, Asia's largest music label, on Monday announced its foray into Non-Fungible Tokens (NFTs) in association with Hefty Entertainment, a division of Hungama, one of the largest digital media entertainment companies in South Asia.

This industry-first 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.

"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," Bhushan Kumar, Chairman and MD T-Series said in a statement

T-Series and Hungama shall leverage their extensive global distribution network and an enviable library spanning two lakh songs and 65,000 music videos and 150+ films across Indian languages.

This will see Hungama creating NFTs, rare collectibles and unlocking special moments from T-Series' vast catalogue of new and existing content.

Speaking about the partnership Siddhartha Roy, CEO- Hungama said, "Hungama is looking forward to offering immersive experiences in the Web 3.0 metaverse to its large communities nurtured over time, across 40+ Countries, with over 150+ global distribution partnerships." - IANS