What is a NFT?
A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. “Non-fungible” more or less means that it’s unique and can’t be replaced with something else. A rare, one-of-a-kind trading card is non-fungible. If you traded it for a different card, you’d have something completely different. NFTs can really be anything digital (such as drawings, music, your brain downloaded and turned into an AI), but a lot of the current excitement is around using the tech to sell digital art.
Over the many years of production of both “On the Mike” and “Before the Fame”, Mike Sherman has had the honor to work with hundreds of television, film, music, and professional sports mega stars. Mike has been working with many of these celebrities to memorialize many of those moments with an extensive Universal Media Group NFT Collection. This is a very exciting project and will highlight many of the interactions over the past decade. These rare, one-of-a-kind works of art will be an exciting expansion of UMGP’s revenue verticals.