Cineverse Corp (CNVS)

[creakyhottie]

Mar. 23, 2021 12:30 PM ETCinedigm Corp. (CIDM)By: Josh Fineman, SA News Editor2 Comments
Cinedigm (NASDAQ:CIDM) jumped 11% and Funko Inc. (NASDAQ:FNKO) gained 14% as social media and others speculated that the companies could be non-fungible token (NFT) plays, especially after earlier news on Dolphin Entertainment (NASDAQ:DLPN) entering the space.
Yesterday, Toy News International published a story about NFTs and mentioned a report from earlier this month where Funko CEO Brian Mariotti talked about plans for his company to get into NFT.
NFTs have become all the rage in recent weeks, most recently yesterday when it was reported that Twitter CEO Jack Dorsey sold his first tweet ever as an NFT for $2.9m. Earlier this month, artist Beeple sold digital artwork in a Christie's auction for $69m.
An NFT represents ownership to a unique digital asset that exists on a blockchain and can't be reproduced. The tokenization allows them to be bought, sold, or traded on an open blockchain ledger.