BBTV Launches NFT Division with Grammy-winning and Multi-platinum Music Producer Zaytoven
BBTV Holdings has announced the launch of its NFT Division on May 6, 2021, aiming to expand revenue opportunities for creators through Non-Fungible Tokens. The division's first collaboration will be with Grammy-winning producer Zaytoven, who has a history of working with top artists. The NFT market saw a total global transaction value of $338 million in 2020, highlighting its growth potential. BBTV, which boasts more than 600 million unique monthly viewers, plans to leverage its extensive creator network to enhance fan engagement and monetization.
- Launch of NFT Division expected to diversify revenue streams.
- Collaboration with Zaytoven, increasing brand visibility.
- NFTs market is rapidly growing, valued at $338 million in 2020.
- Market demand for NFTs may stagnate, impacting revenue potential.
- Dependence on Zaytoven's performance and partnership sustainability.
BBTV to Expand Revenue Opportunities For Creators Through Non-Fungible Tokens and Other Creator-Fan Offerings
VANCOUVER, BC, May 6, 2021 /PRNewswire/ - BBTV Holdings Inc. (TSX: BBTV) (OTCQX: BBTVF)("BBTV" or the "Company"), the leader in creator monetization, today announced the creation of its NFT Division, which will launch Non-Fungible Tokens (NFTs) with some of the world's leading content creators across Entertainment, Music, Sports, Esports & Gaming verticals. BBTV's first NFT will be with Grammy-winning and multi-platinum music producer Zaytoven. Over the years, Zaytoven has worked with artists from Drake, Travis Scott, Young Dolph, Lil Yachty and Lil Uzi Vert, to Rick Ross, Jeezy, Yo Gotti, Usher and Keyshia Cole. He is also widely credited for curating the signature sound of international superstars Gucci Mane, Future and the Migos. He has a flair for recognizing and cultivating raw talent, turning unique individuals into household names.
- The total value for global transactions of NFTs was
$338 million in 20201 up139% from$141 million in 2019 and up nearly800% since 2018. - NFTs are emerging as a popular new way for creators and artists globally to monetize their intellectual property. BBTV plans to offer NFTs as another method to diversify and expand monetization for the thousands of creators on its platform.
- BBTV expects to realize margins that are aligned with BBTV's other existing Plus Solutions products. BBTV is uniquely positioned in the creator economy, with exclusive IP rights across a vast library of content with more than 600 million unique monthly viewers globally, who consumed more than 50 billion minutes of video content, the most among media companies (January 20212).
Leveraging its creator IP and relationship with the world's largest creators, BBTV plans to take tokenized fan experiences to the next level through a combination of NFTs, exclusive fan engagements, merchandise offerings, and more.
"BBTV works with some of the world's most prominent creators and is uniquely positioned to market NFTs through its vast creator network. The combination of creator economy, crypto movement, and proof of ownership has created a massive monetization ecosystem and we are excited to position BBTV at the centre of it all to take the creator fan engagements to the next level," comments Shahrzad Rafati, Chairperson & CEO, BroadbandTV. "We are laser focused on delivering market leading solutions for creators around the globe to monetize the content that they create. NFTs are a natural extension of our Plus Solutions."
BBTV's partnership with Zaytoven began with the release of his supergroup album 'A-Team' featuring Lil Yachty, Lil Keed, Lil Gotit through Opposition, BBTV's Music Division. The album has received over 20 million streams since it's debut in early 2020.
"The rise of NFT's as a new form of IP, brand extension and medium for fans to connect with artists has been truly game changing," comments Zaytoven. "Expanding my partnership with BBTV is the right move as they have been a great company to work with and a leader in the digital space to explore this new frontier. I've been a collector for all my life and I can see the massive opportunity of a fan wanting to own art and music again as we all did growing up."
1 Source; Https://www.statista.com/statistics/1221742/nft-market-capitalization-worldwide/ |
2 Comscore's "Top 12 Countries = January 2021 comScore Video Metrix Media Trend – Multi-Platform – Top 100 Video Properties Report"; Top 12 countries represent ~ |
About BBTV
BBTV is a global media and technology company headquartered in Vancouver, Canada. The company's mission is to help content creators become more successful. With creators ranging from individuals to global media brands, BBTV provides a comprehensive, end-to-end solution to increase viewership and drive revenue powered by its innovative technology, while allowing creators to focus on their core competency – content creation. In January 2021, BBTV had the second most unique monthly viewers among digital platforms with more than 600 million globally, who consumed more than 50 billion minutes of video content, the most among media companies.2 (www.bbtv.com)
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information"), which reflects the Company's current expectations regarding future events, including the creation of an NFT for Zaytoven, the resulting realization of margins at a level aligned with BBTV's Plus Solutions, the Company's plans to take tokenized fan experiences to the next level, the positioning of BBTV to market NFTs, BBTV's focus on delivering market leading solutions for creators around the globe, and BBTV's mission to help content creators become more successful. There can be no assurance that any forward-looking information will be achieved. Forward-looking information is based on a number of assumptions, including but not limited to assumptions that the NFT Division will be successful and will grow, that the margins from NFTs will be aligned with other BBTV Plus Solutions products, that Zaytoven will perform as expected, that the Company's planned tokenized fan experiences and its positioning in the market will be realized, and that the market for NFTs will continue to grow and be in high demand. Forward-looking information is subject to a number of known and unknown risks, uncertainties, and other factors, many of which are beyond the Company's control, and which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward looking information. Such risks and uncertainties include, but are not limited to, the risk that our assumptions may be incorrect, that the market for NFT's may not continue to grow and instead may stagnate, that the NFT's launched by the Company may not generate revenue, that our agreement with Zaytoven may terminate early without realizing any revenue; the effect of competition, and that future revenue may not be realized or be significant, as well as the factors discussed under "Risk Factors" in the final prospectus of the Company dated October 22, 2020. The Company does not undertake any obligation to update such forward looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Media Contacts:
Dan Gamble
Head of PR and Corporate Communications
dgamble@bbtv.com
+1 778-873-0422
BBTV-C
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SOURCE BBTV Holdings Inc.
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