NFT News Today: VeeFriends partners with Macy’s and Toys”R”Us.
Gary Vaynerchuk’s ‘VeeFriends’ is partnering up with Toys”R”Us and Macy’s for the new launch of limited edition plush collectible characters.
The collection is converting actual digital ‘VeeFriends’ NFTs to physical plush figures.
Each collectible will have a QR code that will lead the owner to a 3D animation short film or character song.
For those who are unfamiliar, ‘VeeFriends’ is serial entrepreneur and social media expert Gary Vaynerchuk’s NFT project.
Gary Vee is known for his down to earth yet incredibly strong diction and powerful presence on stage as a mentor, coach, and motivational speaker.
He’s huge in the NFT and entrepreneurial world now bringing life to his hand drawn NFT characters.
Let’s dive into the latest NFT and business news today.
Macy’s and Toys”R”Us Resurrection
There’s no denying that ‘VeeFriends’ is going to be bringing a lot to the table for both Macy’s and Toys”R”Us.
Gary’s plush figures are being sold exclusively at these two retail stores which means the supply will only be limited to these two brands.
Toys”R”Us ceased operations in 2018 but was resurrected in 2022 when Macy’s announced the opening of Toys”R”Us stores at its retail locations in 9 states.
An additional 19 states are set to open before the holiday 2022 shopping season.
Macy’s has had its fair share of troubles too, coming close to bankruptcy at least three times in the past decade.
But the company has made a comeback and is currently profitable.
As of September 30, 2022, Macy’s Inc had a $4.3 billion market capitalization, putting it in the 82nd percentile of companies in the Retailers – Department Stores industry.
Currently, Macy’s Inc’s price-earnings ratio is 3.0. Macy’s Inc’s trailing 12-month revenue is $25.9 billion with a 6.0% profit margin.
And with limited edition ‘VeeFriends’ plush figures now entering the retail chains, one can be sure to expect a successful project.
Here are some words from Founder and CEO of VeeFriends, Gary Vaynerchuk:
“This partnership means way more to me than you could ever imagine. The thought that VeeFriends will be in Macy’s and Toys “R” Us simultaneously is incredible. I fondly remember growing up in Edison, New Jersey, walking down these stores’ aisles as a kid. We chose characters that we think embody exciting features for first-time collectors, much like some of the toys I picked up on the shelves of Toys “R” Us the first time. I can’t wait to see them in-store and on the shelves — it’s a full circle moment for me and a very big step for the company.”
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Why are people buying AMC stock?
AMC stock has a very interesting back story, and if you’ve been following anything in the financial world, you know that investors who bought AMC stock last year humiliated Wall Street when they beat hedge funds at their own game.
Here’s why people are buying AMC stock in 2022.
#1. The potential of another short squeeze
Mainstream media cannot keep hiding this anymore, the cat is out of the bag.
AMC Entertainment stock continues to be a very heavily shorted company despite the media trying to sway investors from investing in it.
Why doesn’t mainstream media want investors to buy AMC stock?
They’re tied in a major conflict of interest where employers who are short on the company cannot afford to lose billions again.
But new investors are getting in on the stock to squeeze shorts from their positions and profit big.
Last year, AMC’s share price skyrocketed to an all-time high of $72 per share when a few short sellers began to close their positions.
The century old movie theatre chain company has also entered the crypto space by accepting a variety of cryptocurrencies as form of payment for movie tickets, gift cards, and soon merchandise.
And speaking of the crypto space, AMC’s NFTs are getting huge.
#4. NFT movie titles and benefits
AMC shareholders have been granted with 2/3 exclusive shareholder NFTs from the company.
“I Own AMC” NFTs are in the market for $500-$9,000.
A second NFT partnership between AMC Entertainment and their acquired gold mining company Hycroft, were also just distributed to shareholders.
Long-term shareholders who received an “I Own AMC” NFT will also be granted a third NFT, a more exclusive AMC-Hycroft NFT by the end of the year.
AMC has been killing it in the NFT space.
And now shareholders and movie theatre guests are investing in the company to collect these rare series 1 NFTs.
Movie lovers will be excited to find out new movie title NFTs are distributed amongst the first movie ticket buyers.
I guess you can say being an investor has never had perks from a company like this before.
Business News: Cinemark Competes with AMC in new Thor: Love and Thunder NFT Deal with Disney
Cinemark is looking to compete with AMC Entertainment theatres in a new NFT deal it just made with Disney.
From Tuesday, June 28th, through Thursday, July 7th, rewards members will get a chance to win one of 1,000 NFTs for Marvel Studios’ upcoming Thor: Love and Thunder.
AMC Entertainment was the first company to release NFTs (non-fungible tokens) to their movie theatre guests upon the purchase of a ticket.
The largest movie theatre chain in the world has released a Spider Man No Way Home NFT, Jurassic World NFT, The Batman NFT, Lightyear NFT, and many more.
Shareholders also received a rare series one “I Own AMC” NFT.
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Cinemark teams up with Disney
Business News: Cinemark teams up with Disney in Thor: Love and Thunder NFT
“Cinemark is thrilled to collaborate with Disney on the release of these exclusive Marvel Studios NFTs for Thor: Love and Thunder,” said Wanda Gierhart Fearing, Cinemark Chief Marketing and Content Officer. – Box Office Pro.
The movie theatre industry has been steadily recovering ever since the pandemic struck the world in 2020.
Cinemark Holdings, Inc.’s total revenues for Q1 2022 increased by 303% to $460.5 million compared to $114.4 million for Q1 of 2021.
AMC Entertainment on the other hand earned $785.7 million in revenue during their first quarter of 2022, compared to $148.3 million in Q1 of 2021.
Cinemark’s marketing campaign to distribute Thor: Love and Thunder NFTs with Disney is a great move for the company.
However, AMC Entertainment continues to be the leader in the movie theatre industry, offering a more premium experience to its guests.
What are your thoughts on Cinemark competing with AMC Entertainment in the NFT space?
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