So What's Up With Genius Brands Stock?

In Genius Brands International Inc GNUS annual CEO letter to shareholders Tuesday, the company took the time to address where it sees itself in the emerging space of non-fungible tokens (NFTs).

An NFT is a blockchain-based tokenization of a collectible item or art piece. NFTs certify digital ownership and authenticity, stored publicly on the blockchain for quick verification. 

“With the recent excitement surrounding NFTs (non-fungible tokens)," the company said, "many companies have come to us with proposals to enter that space. Genius would be a perfect company to flourish in NFTs, because of 4 points. We have:

• Highly Recognized Characters and Pre-Sold Intellectual Property including Original Art, Original Audio, and Original Video, with Built-in Brand Equity.
• We have Platforms that create exposure and continuing awareness for our characters and properties.
• Several of our characters, like “Stan Lee,” have followings in the many millions."

Shares of Genius Brands are trading slightly higher by 1.1% in Wednesday’s premarket session.