Animoca Brands and the Planet Hollywood Group (“Planet Hollywood”) announced today the MetaHollywood joint venture. MetaHollywood will build the largest online community for movie lovers, studios, and creators to interact within a Hollywood-themed metaverse and marketplace for digital collectibles, moments, events, and experiences powered by blockchain technology and the joint venture’s native utility token. The MetaHollywood project can be viewed at https://metahollywood.io.
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 within a virtual environment for the creation, ownership, interaction, distribution, and sharing of digital collectibles, movies, clips, and other assets as non-fungible tokens (NFTs), including NFTs based on some of Planet Hollywood’s most iconic physical assets including photography, movie posters, and memorabilia.
The new platform will provide a community for collectors to own uniquely famous pieces of film history in the form of NFTs as well as to share, interact with, and experience the digital assets in a purpose-built metaverse fueled by the utility of its native token. This will include the tokenization of over 60,000 of Planet Hollywood’s iconic motion picture memorabilia encompassing all popular film genres, providing the community with exclusive benefits and offerings. These collectible props have been used by movie stars from every era including Arnold Schwarznegger, Tobey Maguire, Michael J. Fox, Jim Carrey, Sylvester Stallone, George Clooney, Scarlett Johansson, Jason Statham, and many others representing classic, pop-culture, and modern Hollywood.
“I am thrilled to partner with Animoca Brands as we launch Planet Hollywood into the metaverse. The universal appeal of film, along with our unprecedented collection of iconic memorabilia, make the possibilities limitless,” says Planet Hollywood founder Robert Earl. “Through MetaHollywood, we will offer utility and functionality that is unrivaled in this burgeoning sector, and I cannot wait to see what our users create using the power of their imagination.”
Yat Siu, the co-founder and executive chairman of Animoca Brands, comments: “NFTs are an excellent form of storing culture, and Planet Hollywood owns some of the most fascinating moments in human pop culture. We are very excited to partner with Robert Earl and Planet Hollywood to bring this iconic brand into the rapidly growing world of Web3. The MetaHollywood joint venture will create tremendous opportunities by leveraging Planet Hollywood’s vast network of celebrities and IPs and combining them with our industry expertise and our broad portfolio of products and companies.”
NFTs are digital assets and collectibles that possess many characteristics normally associated with physical items, including authenticity, rarity, scarcity, ownership, provenance, and other properties that are independently guaranteed, verified, and secured on blockchain.
Unlike most digital content, which is temporarily provided to users on a licensing basis, NFTs are truly ownable – just like physical collectibles. The characteristics of NFTs allow them to attain significant value as digital collectibles.