Rad, a streaming app that was formerly known as Littlstar, will be launching a non-fungible token (NFT) platform where exclusives and collectibles from movies, TV and celebrities can be found.
With the new NFTs, creators will be able to package limited edition digital video, images, holograms, music, and real world media and experiences. This can guarantee the scarcity and ownership of the tokens with the power of blockchain technology.
“The release of NFT support by Rad represents the first in the industry, and it’s a paradigm shift for studios and creators to generate entirely new income streams with digital or real world exclusives,” said the Co-founder and CEO of Rad, Tony Mugavero. “NFTs fit perfectly alongside our streaming library as a new form of commerce for content partners, and builds on our years of blockchain work with ARA.
Package up digital exclusives as limited editions, interview clips, holograms, XR, movie extras, a live chat with a star, and tickets to the premiere, all in one auction verified on the blockchain.”
In 2020, Rad has closed streaming deals for more than 100 channels. Venn, Comedy Dynamics, and Venn are among the 100 channels. Since the previous fall, Rad can be accessed on PS5 and GoogleTV too.
There are over 3 million of free users and tens of thousands of subscribers in XR accumulated during its time as Littlstar. In 2018, it has also branched out to live video and VOD and blockchain distribution with Ara.
The average of the session times increased to 55 minutes, and the new available contents grew by over 10,000% in 2020. Rad has investors like Disney Accelerator, Warner Music Group, Sony Innovation Fund, The Tornante Company, WWE, Digital Garage and more.
The support of Rad’s NFT will launch in April 2021.