First Henson, Now Sesame NFTs - PLEASE STOP!

Back in 202, the Henson Company started selling NTFs. At first we were excited for the possibility of something new for collectors. Then we learned not only were these items "virtually" worthless they are also horrible for the environment. 

Now Variety is reporting that not only is Sesame Workshop launching Sesame Street NFTs, they'll be priced at $60 each. 

In case you don't know, here's how NTFs work. 

Since Henson related NFTs began being "produced" we've learned even more about NFTs.

As an investment, Moneyunder30.com said "NFTs are an exciting new medium for collecting digital art, but they're no good as investments. The odds of losing some or all of your money on an NFT investment are extremely high. And with Blue Chips and index funds still around, you simply don't need NFTs to become independently wealthy."

NFTs are also terrible for the environment since they use the block chain technology that consumes lots of energy to keep running. 

Wired said "The major marketplaces for NFT art, which include MakersPlace, Nifty Gateway, and SuperRare, conduct their sales through Ethereum, which maintains a secure record of cryptocurrency and NFT transactions through a process called mining. The system is similar to the one that verifies Bitcoin, involving a network of computers that use advanced cryptography to decide whether transactions are valid—and in doing so uses energy on the scale of a small country."

Our friends at ToughPigs wrote about how bad this idea was for the Henson Company to be a part of  in 2021 when the started selling their Labyrinth NFTs and then again a year later when Fraggle Rock images were added. 

We know Jim Henson was a big proponent of technology and exploring new possibilities but not at this expense to the environment. Henson making Labyrinth NFTs was a bad decision, the irony of allowing Fraggle Rock NFTs is impossible to ignore, but for Sesame Workshop to make the same awful decision after all we know now is unconscionable.

So please don't buy NFTs - Henson related or otherwise and Henson and Sesame if your reading this, please stop supporting this worthless product that's horrible for the environment. 

It's definitely not in line with keeping Jim's vision alive. 

Jim Henson Company Labyrinth NFTs!

The Jim Henson Company is launching its first-ever NFT digital collectibles in partnership with VeVe, the largest mobile-first digital collectibles platform.

The first series of exclusive digital collectibles will be based on the classic fantasy film Labyrinth and will be released early 2022.

"After 35 years, Jim Henson's Labyrinth is still beloved and respected as one of the unique and groundbreaking films of its era. It's a perfect tribute to have fans of this innovative production celebrate Labyrinth's anniversary with this incredible line of must-have NFT collectibles. Partnering with VeVe for The Jim Henson Company's first-ever NFT release allows our dedicated and ever-growing fanbase to connect with the film's cast of characters in an entirely new and engaging product landscape," said Melissa Segal, who oversees consumer products for The Jim Henson Company.

"Labyrinth is one of the most iconic fantasy films of all-time, so we jumped at the opportunity to partner with The Jim Henson Company on a series of digital collectibles from the film," said Dan Crothers, Chief Operating Officer and Co-Founder of VeVe. "Our community of collectors is going to love displaying these in their virtual showrooms for all to see."

Through the VeVe platform, fans can showcase their digital collections in the app's virtual showrooms as epic 3D dioramas, as well as virtually visit, comment on and like showrooms from other collectors. VeVe also offers an augmented reality (AR) photo mode that allows collectors to interact with every digital collectible in 3D, as well as share their collectibles through VeVe's in-app social feed or on external social platforms. In addition, VeVe uses Ethereum's layer 2 scaling protocol, Immutable X, providing a 99.9% reduction in environmental footprint.

In the initial drop, fans will be able to purchase 3D digital collectibles inspired by the film exclusively through the VeVe app, available to download on the App Store and Google Play.

VeVe will announcing drop dates on Twitter and Instagram.