Virtual reality animation studio Baobab Studios, known for producing Emmy award-winning content, has recently entered the world of non-fungible tokens (NFTs) with the launch of its new line of Ethereum-based NFTs called Momoguru.
According to the studio’s CEO, the Momoguru NFTs feature the “beloved characters” from Baobab’s VR experiences and interactive stories, and are designed to provide fans with a unique way to collect and trade their favorite characters.
While Baobab is a relatively new player in the NFT space, its established reputation in the entertainment industry and partnership with Disney could potentially attract a large audience to its NFT offerings.
However, as with any new NFT launch, the success of Momoguru remains to be seen. The NFT market has been highly volatile and competitive, with established players like OpenSea and new platforms like Blur vying for a share of the market. Additionally, some experts have raised concerns about the environmental impact of NFTs, as the blockchain technology used to create them requires a significant amount of energy.
Despite these challenges, Baobab Studios is optimistic about the potential of its new NFT line, stating that it is excited to “explore new frontiers” in the world of virtual storytelling and art.