Cookie Monster and his Sesame Street neighbors are moving to a new block(chain).
VeVe, an app-based marketplace for digital collectibles, has licensed characters from Sesame Workshop to develop Sesame Street NFTs for the first time. VeVe is owned by Singapore-based tech company Ecomi.
The first collectible will be released Sunday, March 19 and will feature Cookie Monster standing next to an oven (pictured). There will be 5,555 editions of this NFT available, priced at US$60 each. The company says it will be launching more Sesame Street virtual collectibles throughout the year.
VeVe was established in 2018 and offers NFTs based on popular brands like Disney, Star Wars, Marvel and DC. It says it has sold more than 8 million NFTs through its mobile-based marketplace. Most recently, the platform launched digital collectibles based on Howard the Duck (US$50) and Rambo (US$60) last week.
NFTs have ridden a rollercoaster of hype waves since bursting on the scene in 2020. The kids industry took notice, with popular brands like Mr. Bean (Banijay) and Masters of the Universe (Mattel) getting in the game in 2022. Kid-centric social media platform Zigazoo went especially bullish on the tech, launching an NFT-based range for its users.
Predictions and valuations of the size and scale of the NFT market vary, with critics decreeing it a one-time fad. But other reports indicate there’s growth potential in specific areas, namely the APAC region and, per S&P Global, in-game purchases, with multiple forecasts pegging predictions for the market’s annual revenue growth at 30-35% to 2030.