Pinkfong, Sony Music Reveals Little Shark NFT Auction

2021-12-14 11:31:53 By : Mr. Yongde Wu

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Seoul-based SmartStudy has just recently launched its extremely innovative Baby Shark NFT, and the initial series of auctions will begin tomorrow afternoon. SmartStudy/Pinkfong’s "Baby Shark Dance" has a staggering 9.76 billion views and is still the most viewed video on YouTube, ahead of Luis Fonsi's second-ranked "Despacito" and its 7.65 billion views .

Pinkfong and its "Global Music Partner" SME have developed a six-piece Baby Shark digital asset collection, which can be viewed on the NFT market MakersPlace. (As early as August, Sony Music, Coinbase Ventures, Eminem, and others supported the latter in a $30 million Series A financing.)

According to the release of SmartStudy, the unique NFT is called "Little Shark No. 1", which is "a one-minute digital artwork featuring a small shark, who travels in a newly reimagined dreamlike underwater world".

Although the starting price of the auctions has not yet been made public, previous NFT sales have shown that these auctions may receive substantial prices. Therefore, the winning bidder for the unique Baby Shark non-fungible token "will receive the only custom vinyl record created by Pinkfong specifically for this NFT, which contains music and accompanying art from the unique work."

Pinkfong USA CEO Bin Jeong made it clear in a statement to Baby Shark’s NFT that her company (which owns more than 5,000 children’s "songs and stories") intends to launch similar projects.

"We are very happy to finally announce Baby Shark's first NFT series," said the person in charge of Pinkfong USA for nearly four years. "This marks our beginning to step into the NFT world. This is an important next chapter in Baby Shark's journey. As a sensation born on the Internet, Baby Shark's acceptance of NFT is a natural progression, and we are happy to share this experience with the community."

Although some people question the precise value and long-term viability of NFTs, the music industry’s acceptance of data units shows little sign of slowing down. For example, Primary Wave and BTS agency HYBE entered the space last month, and UMG’s 10:22 PM revealed plans to build a band featuring four roles in the NFT project.

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Nine + = fourteen