T-series, Hungama enter NFT space through new division, Hefty Entertainment

Indian music label T-Series has announced its entry into the NFT space in partnership with Hungama Digital Media’s division, Hefty Entertainment.   

“We look forward to expanding and enhancing the value of our content leading to further and rapid expansion of the global digital entertainment industry. Offer a future full of potential, interactivity and collaboration for our communities around the world,“ said Bhushan Kumar, president and CEO of T-series. 

For the NFTs, the two companies have partnered with ethereum infrastructure scaling and development platform Polygon. 

Also read: Bollywood taps NFT frenzy again, NFT drop from Kapil Dev biopic fetches Rs 10 lakh in 1 hour

The two companies will start the Hefty Metaverse, which will aim to collaborate with Web 3.0 communities to bring them into the metaverse. As part of the newly launched platform, Hungama will create NFT’s, rare collectibles and other NFT experiences that the company terms as “money can’t buy experiences” curated from T series’ catalog of contents. 

“We are delighted to extend our long-standing partnership with T-Series and establish ourselves as a first mover in the entertainment Metaverse. We can’t wait to redefine content consumption with this Web 3.0 initiative as we find new ways to collaborate and engage fans,” said Neeraj Roy, founder of Hungama. 

Also read: Coinbase’s upcoming NFT platform will allow users to buy NFTs using fiat currencies 

Hungama Digital media currently has about 90 million monthly active users in the areas of videos, music and games, while T-series said that it had the world’s largest YouTube subscriber base with over 395 million users. The two companies are looking to leverage their experience in the domains to sell their NFTs through Hefty Entertainment.