Dog and cat video peddler the Pet Collective may not be a major Hollywood studio, but that doesn't mean it can't leverage NFTs and blockchain technology in order to connect with its most avid fans.
Following the lead of major Hollywood studios such as Disney and Universal Pictures, and major brands like Nike and Gucci, the Pet Collective has teamed up with a blockchain company Theta Labs in order to create stronger ties with its fans.
Boasting about five million subscribers on both YouTube and TikTok, the Pet Collective has build a following by posting entertaining pet videos for more than a decade. Now, with the help of Theta, the Pet Collective is offering up an unlimited number of NFTs to whomever wants to access exclusive content.
While it's unlikely the campaign will generate much revenue on its own, Pet Collective is hoping the NFT drop will foster stronger relationships with its super fans, thus paving the way for other economic opportunities outside the platforms like YouTube and TikTok which it relies on for content distribution.
'Active seekers of content'
"This initiative is turning casual viewers into active seekers of content, rather than allowing them to simply stumble upon it while scrolling through social media," said Theta Labs CEO and co-founder Mitch Liu. "This strategy allows the Pet Collective to pinpoint the true aficionados."
Theta Labs is made up of a team of former employees from Netflix, Samsung, Amazon and Vimeo. The company aspires to becoming "the leading blockchain for media and entertainment." It has raised more than $100 million, according to Crunchbase.
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