Yesterday blockchain games developer and investor Animoca Brands announced that it was partnering with the Planet Hollywood Group to form ‘MetaHollywood’, a non-fungible token (NFT) and metaverse joint venture.
MetaHollywood plans to tokenize and sell over 60,000 of Planet Hollywood’s movie memorabilia, including photography and movie posters. There are also plans to build a marketplace where movie studios and creators can sell NFTs to fans, such as behind-the-scenes clips.
A native utility and governance token for MetaHollywood will also be launched. The HWOOD token will allow holders to influence decisions over community development. 12% of the token’s supply will be allocated to MetaHollywood’s marketing fund and 10% to the fashion and content development fund for purchasing licensing rights. Only 0.5% of the token’s supply will be for public sale.
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