Hello Kitty and Friends are coming to the world of non-fungible tokens (NFTs).
Here are the details of the partnership between Hello Kitty parent Sanrio and NFT company Recur.
What Happened: A collection of 10,000 NFTs will be launched featuring six characters from the Hello Kitty and Friends brand on Aug. 25, 2022.
The NFTs can be collected and holders will earn new digital collectibles when they complete challenges and travel to eight iconic cities around the world, two cities will be exclusive for Recur Pass Holders.
Clues to characters and locations will be revealed via the Recur Twitter before the launch. Recur passholders will receive early access to the NFT sale.
“We’re thrilled to create a platform for all Hello Kitty fans, old and new, to take flight and experience the metaverse through Hello Kitty and Friends World,” Recur founder and CEO Zach Bruch said. “Our goal is to provide a community where fans can interact and explore the metaverse with brands and IPs they love.”
Recur uses proof-of-stake layer-2 blockchain Polygon (CRYPTO: MATIC) for its mints.
The NFTs can be withdrawn to any Web3 wallet on any blockchain thanks to a multi-chain launch from Recur in April.
Related Link: How To Buy NFTs
Why It’s Important: Sanrio and Recur announced a partnership to bring the iconic character to NFTs back in November 2021.
The Recur Pass was sold in December for 24 hours and provides exclusive early access to several drops on the platform.
Recur was valued at $333 million in September with a new $50-million funding round. This was, at the time, the largest Series A in the NFT space. Recur investors included Steve Cohen, Gemini, Gary Vaynerchuk (Gary Vee), David Choi, Jason Derulo and Ethereum (CRYPTO: ETH) co-founder Joe Lubin.
Recur was a recent partner with Nickelodeon, a unit of Paramount Global Inc. (NASDAQ:PARA)(NASDAQ:PARAA), for a NFT collection launch. Nickelodeon launched a collection of NFTs based on its “Rugrats” and “Hey Arnold!” cartoons.
The Rugrats and Hey Arnold! NFTs were sold in packs for $50 and had strong resale value in unopened packs and as revealed images. The collection had sales volume of over 1,600 ETH on OpenSea, a leading NFT marketplace. The floor price for the NFTs is 0.1 ETH, or around $141, at the time of writing.
Hello Kitty was created in 1974 and is one of the most well-known global lifestyle brands.
Sanrio has a presence in over 130 countries around the world.
