Dolphin Entertainment, FTX Launching NFT Marketplace for Sports and Entertainment Brands
Dolphin Entertainment/FTX US
Dolphin Entertainment and West Realm Shire Services Inc., owner and operator of FTX.US, are teaming up to create an NFT marketplaces for major sports and entertainment brands. The pact will combine Dolphin’s creative and marketing prowess with FTX’s knowledge of crypto currencies.
The marketplace is described as “large-scale” and “consumer-facing” and comes as the trading of NFTs or non-fungible tokens is booming. The market for these digital assets hit $2 billion in sales during the first quarter of 2021 with the likes of Beeple selling NFT artwork for $69.3 million and Jack Dorsey auctioning off his first tweet for $2.9 million. At the same time, bands like Kings of Leon are releasing albums as NFTs and filmmakers like Kevin Smith have said they will release movies on the format, a signal of the growing prominence of these tokens.
As part of their new partnership, Dolphin will develop and execute the creative branding, production and marketing of these programs alongside FTX, who will use their crypto exchange services and technical development as the backbone of the marketplaces. Together, Dolphin and FTX will develop and program global NFT marketplaces targeting brands within the sports, film, television, music, gaming, eSports, culinary, lifestyle and charity industries.
“Buying NFTs today is clunky,” said Bill O’Dowd, CEO of Dolphin Entertainment. “To be able to offer a seamless user experience, where the wallet and the product are all in one place; to allow the consumer to pay with crypto, credit card or traditional currency; to have the product available on wholly-owned and programmed online destinations; to have the same product available for purchase directly in app; and to also have actual customer support, when necessary, are enormous differentiating factors that FTX provides. Combined with Dolphin’s unparalleled access and relationships across the film, television, music, gaming, eSports, culinary and sports industries, our joint offerings are distinct from the rest of the market and, most importantly, immediately put NFTs on a level playing field with all other consumer products available for purchase online.”
“Dolphin’s reach and scale across all of pop culture is very impressive to us,” Brett Harrison, President of FTX.US, said. “We are excited to build marketplaces with Dolphin, both because of their ability to access content and IP, but also because they are leaders in public relations and influencer marketing for every major vertical of entertainment. With that said, there are several items on the horizon that we can’t wait to launch together.”
Dolphin’s wholly-owned subsidiaries include the powerful PR firm 42West; Shore Fire Media, a massive music PR firm; The Door, a celebrity chef, hospitality and lifestyle PR firm; BHI, a division of 42West, which services the gaming, eSports and entertainment consumer products industries; Be Social, an influencer marketing company; and Viewpoint Creative, a creative agency.
Variety's Brent Lang contributed to this post.