Quick take:
- Hot Topic is pivoting to Web3.
- The US national retailer has collaborated with web3 animation studio Toonstar to provide NFTs and other digital collectibles.
- Hot Topic will also launch high-quality community-driven Web3 projects at retail starting with The Gimmicks.
Leading US retailer Hot Topic is foraying into web3. The company has announced a partnership with web3 animation studio Toonstar Animation in a deal that will allow it to offer NFTs and other digital integrations across its platforms.
Hot Topic is looking to sell NFTs and web3 activations in retail stores and online with Toonstar becoming its official web3 partner. The web3 startup will produce NFTs and digital collectibles for both original projects and Hot Topic developed IP.
The partnership will officially launch on July 21 at Comic-Con, giving Hot Topic fans an opportunity to have a cameo in an upcoming episode of The Gimmicks.
This is one of the biggest Web3 projects by a major national retailer in the US. Hot Topic has more than 800 stores across the country bearing merchandise inspired by the latest pop culture trends. It also claims to have a community of about 11 million avid digital and physical pop culture collectors.
The company’s web3 partner is perfectly positioned to execute its Web3 strategy having already partnered with Mila Kunis’s digital studio Sixth Wall to co-produce the Web3 animated series “The Gimmicks”.
The series has garnered more than 1 million on-chain interactions since its launch, illustrating the power of web3 community engagements on the blockchain.
The partnership has more plans to introduce NFT sales that unlock the redemption of physical NFT merch in-store, as well as, launching more Web3 projects at retail, beginning with “The Gimmicks”.
There are also plans to create exclusive Web3 activations for consumers’ favoured Hot Topic brands, in a bid to encourage ownership and participation.
Commenting on the collaboration, John Attanasio, CEO and co-founder, Toonstar said Hot Topic was the perfect partner to help fulfil its mission of bringing Web3 to the mainstream.
“Entering the retail market is a huge leap forward for Web3 adoption. And with this partnership, buying an NFT will now be as easy as buying a t-shirt, opening the door to millions of new creators and owners,” Attanasio added.
On the other hand, Steve Vranes, CEO of Hot Topic commented: “Toonstar has the same goals in the digital world, and together we look forward to building the most innovative and engaging fan-based digital products and communities in a Web3 environment.”
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