'Space Jam: A New Legacy' NFT Tie-in Gives Free Digital Collectibles for Every Registration

"Space Jam: A New Legacy" has been offering up different digital collectibles outside of the movie like LeBron James' new skin in "Fortnite." This time around, these collectibles are NFTs.

"Space Jam: A New Legacy" NFT Tie-in

"Space Jam: A New Legacy" will be launching on July 16 on HBO Max, and it follows LeBron James as he enters a world full of your favorite Warner Bros. cartoons, similar to Michael Jordan's 1996 "Space Jam" movie.

An upgrade from fast food kids' meals toys, cereal box knick-knacks, or limited edition trading cards, the new family-friendly movie is now offering non-fungible tokens up for grabs. Non-fungible tokens or NFTs are digital assets that show ownership for a particular virtual item.

Digital tokens can be fungible or non-fungible. Bitcoin tokens are fungible because when you trade Bitcoin for another Bitcoin, you still have Bitcoin. But with NFTs, you sell your Joe Exotic NFT for the World Wide Web Source Code NFT, then you get an entirely new NFT--basically like trading cards.

Niftys.com is the new marketplace for the non-fungible tokens that claims to be "the ultimate destination for creators, collectors, and curators." To launch the new website, it went all-out with the "Space Jam" tie-in.

Niftys have quite a few high-profile backers that hope to join in on the next big thing in the collectibles trend. These backers include Topps, Mark Cuban, Dapper Labs the creator of NBA Top Shot, and Samsung Next, The Verge said.

Though the website suffered some outages in the initial launch, it's fully back up and running now.

Free NFT for Every Niftys.com Registration

Anyone who registers to Niftys is promised a free NFT, and you can get one more for sharing a social media post about the event.

Each free NFT is a one-of-a-kind digital collectible from the 91,000 that have been minted on its blockchain for the event. According to Variety, the series features eight characters from the Looney Tunes "Tune Squad" and LeBron James. The digital collectibles will include 2D and 3D-animated versions of the token.

Niftys also claimed that its setup uses Palm NFT Studio to reduce energy consumption by 99 percent compared to other methods that have raised controversial news regarding the environmental impact of blockchain technology.

Since these tokens are one-of-a-kind and are "limited" in quantity, these NFTs are running "while supplies last" and as of writing, have actually sold out.

The allure with these NFTs is their scarcity. Whether you got it for free or you bought your NFT for $2.99, you'll be owning the one and only NFT of that kind. Niftys offered five tiers of rarity: common, uncommon, rare, epic, and legendary.

Common tier NFTs offered 3,000 NFTS, Uncommon NFTs had 1,500 available, and there were only 500 Rare Space Jam NFTs. If you hold an Epic NFT, you would be holding one out of 100 of them. Legendary NFT holders are of the elite few with only 10 of those NFTs in that tier.

The NFT is viewable as a spinning GIF of a futuristic looking trading card and if you own a few of them, you can view them as part of your playlist.

If you were not able to snag one of the NFTs, you can still see the images over on their Instagram.