Hello Kitty NFTs Are Coming From RECUR, Backed By Gemini, Gary Vee And Ethereum Co-Founder Joe Lubin

A well-known animated character is the latest to land a non-fungible token deal, and it is coming from a company backed by some big investors.

What Happened: Sanrio-owned character Hello Kitty is joining the NFT market for the first time through a partnership with RECUR.

Iconic brand Hello Kitty will be part of a fan-focused platform in the partnership with RECUR.

“RECUR is thrilled to create a bespoke experience for Hello Kitty fans, some of the most engaged and dedicated fans in the world, to buy, collect and trade Hello Kitty NFTs as digital products and collectables,” the company said.

RECUR will launch the Hello Kitty NFTs in the first quarter of 2022.

“Stepping into the NFT space adds a new way of being part of contemporary culture and provides our fans a new way to enjoy our brand,” Sanrio Chief Operating Officer Silvia Figini said.

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Why It’s Important: The move by RECUR to bring Hello Kitty to the NFT space comes as large companies with strong libraries of brands are working to monetize their intellectual property through this growing space.

Hasbro Inc HAS, Mattel Inc MAT and The Walt Disney Co DIS have all announced plans to further monetize their IP into NFTs.

Hello Kitty was created in 1974 and has been a successful brand that attracts many licensing partnerships.

Along with the Hello Kitty partnership, RECUR also announced the launch of its proprietary RECUR Portal Pass. The pass will be sold on Dec. 9 and offer holders early access to the entire intellectual property library and experiences from RECUR.

The RECUR Portal Pass will be on sale for 24 hours only as a limited release.

“Through this one day, 24-hour sale, you will receive early access to what will be some of the greatest digital collectables for generations to come, and that’s only the beginning,” RECUR co-founders Zach Bruch and Trevor George said.

RECUR was valued at $333 million in September with a new $50-million funding round. This marked the largest Series A in the NFT space, led by DIGITAL, a metaverse investment platform that is backed by Steve Cohen, who joined the company’s board. 

RECUR investors include Gemini, Gary Vaynerchuk, David Choi, Jason Derulo and Ethereum ETH/USD co-founder Joe Lubin.

A partnership between RECUR and artificial intelligence company Veritone Inc VERI was also announced in September. RECUR was announced as a partner for Pac-12 sports NFTs as part of the Veritone partnership.