October 27, 2022

8th Edition: Nickelodeon NFTs or Transforming Legendary IP into NFTs

Nickelodeon is one of the few big brands that entered the web3 and NFTs world. Partnering with the web3-native agency Recur, Nickelodeon launched a collection of 10,000 unique portrayals of Hey Arnold! and Rugrats, with bidding starting at $50.

Nickelodeon created a full-fledged marketplace of digital assets based on their legendary intellectual property (IP). By accessing the marketplace, people can browse the collectibles, choose the NFT they like most and purchase it via crypto (Bitcoin or Ethereum), credit card, or Coinbase pay.*

Nickelodeon Screenshot

*Coinbase pay is a payment feature that allows users to buy or transfer supported crypto on Coinbase directly from self-custody wallets and dapps.

By launching this collection, Nickelodeon is actively contributing to onboarding people to web3, making the NFT trading process as seamless as possible.

As Brett Malinowski, a famous NFT educator, highlights, brands can’t onboard users to web3 by teaching them about centralization. This strategy isn’t entirely effective. However, they can always build frictionless processes, such as paying with a credit card, allowing people to transact with NFTs easily. Once people buy NFTs, they’ll have enough skin in the game to learn about digital property and the benefits that come with it.

Going back to Nickelodeon’s marketplace, the total all-time (from July to October 2022) sales volume of $2.16M.

Nickelodeon Screenshot

The most expensive NFT costs $999,999.99. The cheapest is $39.00. Each NFT card has a detailed description, attributes, history, and owner.

Nickelodeon Screenshot

One can filter the Nickelodeon NFTs by:

  • Type
  • Character name
  • VFX
  • Series (Rugrats or Hey Arnold!)
  • Background
  • Background accent
  • Costume
  • Expression
  • Eyes
  • Face prop
  • Head prop
  • Left arm
  • Mouth
  • Outfit
  • And more

But that’s not all. Each NFT character has a Slime Score based on its rarity and attributes. All characters are ranked from the least rare to the rarest. According to Nickelodeon, the Slime Score depends on the following traits:

  • Background: Most typical backgrounds have solid colors or subtle patterns, while the rarest NFTs have an in-depth background.
  • Character and outfit: Costumes and expressions also determine the rarity of the NFT.  
  • Accessories: Characters can be found with one or more accessories.
  • Bonus: Finally, some lucky NFT owners will get an ultra-rare character with animation, such as butterflies, pigeons, or Cynthia’s jet flying around the character.

One character can be worth one, two, three, four, five, or even ten Slime. People can trade their NFTs for Slime. It’s worth mentioning that only 5,000 Slime NFTs are available.

Slime NFTs help people unlock mashups. NFT owners need a full set of 10 Slime to get an original Mashup. What’s a Mashup?

According to Recur’s article: 

“Mashups are bespoke characters that combine two different characters—one from Rugrats and one from Hey Arnold! into something entirely unique.”

There are 36 unique combinations, and there are only 500 Mashups available.  

As Brett Malinowski highlights, Nickelodeon didn’t overpromise nor overloaded their NFTs with utility. The company is simply selling its first digital collectibles or its first digital “baseball cards.”

Twitter Screenshot

However, this doesn’t mean that Nickelodeon won’t add more value to its NFTs in the future. This value may translate into elements such as private screenings in movie theaters or plush toys for NFT holders only.