Animoca Brands, a Hong Kong-based game software and venture capital firm, announced on April 20, 2022 that it has partnered with Planet Hollywood Group for an NFT and metaverse-focused entity called “MetaHollywood”.
MetaHollywood aims to tokenize and sell more than 60,000 movie memorabilia, including Planet Hollywood-owned photography and movie posters. It is also stated that there are plans to build an NFT marketplace where movie studios and creators can sell NFTs (i.e. NFTs with behind-the-scenes footage) to their fan bases.
With the Hollywood-themed metaverse, movie lovers, studios and creators will be able to interact with the metadatabase, while also creating a marketplace for digital collectibles. The entire experience will be powered by blockchain technology and the joint venture's native utility token.
Planet Hollywood is the creator and worldwide developer of a consumer brand that capitalizes on the universal appeal of movies, television, sports, music and other leisure activities.
Animoca Brands used the following statements about the partnership:
“The MetaHollywood joint venture will transform the awe-inspiring Hollywood experience into a Web3 metaverse that benefits and reaches more supporters, studios and creators globally in a virtual environment.
The new platform will provide collectors with unique pieces of famous film history in the form of NFTs, as well as a community to share, interact with and experience digital assets in a purposeful metaverse powered by its native source.”
Joint venture; It will help create, own, interact, distribute and share digital collectibles, movies, clips and other assets as non-tradable tokens (NFTs). More than 60,000 iconic movie memorabilia of Planet Hollywood covering all popular movie genres will also be published by MetaHollywood.
“Through MetaHollywood, we will deliver unrivaled utility and functionality in this booming industry,” said Robert Earl, founder of Planet Hollywood. Yat Siu, co-founder and chairman of the board of Animoca Brands, also said:
"The MetaHollywood joint venture will create tremendous opportunities for companies by leveraging Planet Hollywood's extensive network of celebrities and IPs and combining them with our industry expertise and broad product portfolio."