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.
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