T-Series, Asia’s largest music label, publisher and India’s largest film studio has announced its foray into Non-Fungible Tokens (NFTs). The association is with Hefty Entertainment, a division of Hungama and one of the largest digital media entertainment companies in South Asia, with 90 million+ monthly active users (MAUs) across music, gaming and video.
T-Series has the world’s largest subscriber base on YouTube with over 395 million users and an equally large community of 75 million followers on social media across Facebook, Instagram and Twitter. This industry-first foray for the global digital entertainment industry will witness the two leaders raise the bar of entertainment creation and consumption via Hefty Entertainment – A Web 3.0 initiative by Hungama.
The venture has been brought together in partnership with Polygon, a leading platform for Ethereum scaling and infrastructure development. The partnership between the two companies is built on a long standing 20-year association between T-Series and Hungama.
T-Series and Hungama will leverage their extensive global distribution network and an library spanning two lakh songs, 65,000 music videos, and 150+ films across Indian languages. Hefty Metaverse aims to foster an ecosystem that will collaborate, interact and engage with flourishing web 3.0 communities that transition consumers into the metaverse.
This will see Hungama create NFTs, rare collectibles, money-can’t-buy experiences that unlock special moments from T-Series’ vast catalogue of new and existing content. Sharing his thoughts about the association, Bhushan Kumar, Chairman and Managing Director – T-Series commented, “We’re delighted to extend our alliance with Hungama, spanning two decades, and enable our community with access to the Metaverse. Having set the ball rolling, we look forward to expanding and enhancing the value of our content that leads to a further and rapid expansion of the global digital entertainment industry. Offering a future full of potential, interactivity and collaboration for our communities around the globe.”
Speaking about the collaboration, Neeraj Roy, Founder – Hungama, shared, “We are delighted to extend our long-standing partnership with T-Series and establish ourselves as first-movers into the metaverse of entertainment. We look forward to redefining content consumption with this Web 3.0 initiative as we find new ways to collaborate and engage with fans. Our partnership with T-Series has strengthened with time and it is most commendable what Bhushan Kumar and his amazing team have built in the last few decades. We’re very excited to hold hands with them to enter the metaverse and we promise to give billions of fans of Bollywood globally an experience that will see value accrue to them on our platform.”
Neeraj Kalyan, President T-Series, said “T-Series has demonstrated its leadership position on the back of innovation and adoption of new technology advancements as we have continued to drive distribution across ever evolving digital landscape. T-Series and Hungama’s partnership is built on mutual trust and we will continue to consolidate into more meaningful avenues, akin to our foray in the NFT space.”
Speaking about the partnership Siddhartha Roy, CEO- Hungama said “Hungama is looking forward to offer immersive experiences in the Web 3.0 metaverse to its large communities nurtured over time, across 40+ countries, with over 150+ global distribution partnerships.”