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 over 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."
(With inputs from IANS)
