(Alliance News) - Online Blockchain PLC on Monday said it plans to launch a new non-fungible token project based on 'The Rocky Horror Show'.
Online Blockchain shares were up 13% trading at 23.20 pence per share on Monday morning in London. The stock hit an intraday high of 24.25p. It remains down 43% over the past 12 months.
The London-based blockchain research and development company said it has entered into a worldwide licence with Interfishnet Ltd, the rights holders of the popular musical, to create and market a range of character NFTs.
Online Blockchain said: "NFTs are cryptographic assets on a blockchain, with unique identification codes and metadata that distinguish them from each other and are directly linked to one blockchain address. Non-fungible tokens comprise a smart contract which can digitally represent any asset, including online-only assets like digital artwork and collectibles."
The company said its developers have created multiple collectible NFT characters from Rocky Horror Picture Show, and plans to launch marketing for the NFTs shortly. Under the agreement, the company will receive a share of the revenue from the sale of the NFTs.
Online Blockchain noted that the development of the product is in its early stages and "there is no certainty at this time how it may develop or to what extent any income will be derived".
Chief Executive Officer Clem Chambers said: "We believe that The Rocky Horror Show has significant potential for NFTs and we look forward to working with Interfishnet. This year is the 50th Anniversary of the first performance of The Rocky Horror Show and we are delighted with the prospect of bringing these NFTs to market at this time."
By Harvey Dorset, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.