Meet the Reality Studio Betting Big on NFT TV

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Meet the Reality Studio Betting Big on NFT TV
Photo by Sam Moqadam on Unsplash

Sign up for dot.LA's daily newsletter for the latest news on Southern California's tech, startup and venture capital scene.

The production company behind reality TV hits like “The Real World” is now entering the brave new world of NFTs.

Glendale-based Bunim/Murray Productions is teaming with tech startup Virtual Arts to form Wonderfuel, a joint venture that will create NFT-backed programming. Wonderfuel plans to sell non-fungible tokens (NFTs) that give fans perks and prizes that could include access to the shows’ stars or unedited clips from episodes. Proceeds from the NFT sales may help fund future programming, the companies said Wednesday.


“We see NFTs as a new way to help fan engagement, beyond just funding the series,” Steve Ezell, Bunim/Murray’s senior vice president of current programming, told dot.LA. “The utility that they provide is going to allow for experiences that traditional linear television currently doesn’t allow for.”

The idea is not without precedent. Ezell pointed to “Stoner Cats,” a weed-themed online cartoon series from actress Mila Kunis’ production company. The show, only accessible to NFT holders, reportedly raised $8.3 million worth of crypto.

Wonderfuel isn’t going that far; it still plans to distribute shows to the masses through traditional TV and streaming partners, in addition to yet unnamed Web3 platforms. The venture plans to announce funding from investors in the coming weeks.

Bunim/Murray is the studio behind popular unscripted series including “The Real World,” “Keeping Up With The Kardashians” and “The Challenge.” Virtual Arts, an Austin-based developer of a dance competition platform called DanceFight, is a part of a startup accelerator that has helped it incorporate NFTs within its own platform. The two companies previously discussed developing a dance show that did not come to fruition, Virtual Arts co-founder Ryan Jordan told dot.LA.

Ezell and Jordan declined to share details about Wonderfuel’s shows or the price of the NFTs it will sell. They said Virtual Arts will mint Wonderfuel’s NFTs and design a platform that will let fans engage with shows in a variety of ways, possibly including casting auditions for fans wanting to join the shows. NFT owners could get involved in creative decisions, they said.

The NFT market surpassed $40 billion last year, according to one recent estimate. Entertainment companies in the music, movie and gaming industries have been quick to get in on the action—even if the jury is still out on whether NFTs are just a fad or viable long-term investments. Earlier this week, a Beverly Hills-based blockchain startup unveiled a $3.6 million seed round to launch NFT projects for brands and celebrities.

Update, March 17: This story has been updated to include comment from Bunim/Murray Productions and Virtual Arts.

Subscribe to our newsletter to catch every headline.

Cadence

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

Read moreShow less

Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

Read moreShow less

The Big Ten's $8B Mega Media Deal Kicks Off a New Era in Sports Streaming

Lon Harris
Lon Harris is a contributor to dot.LA. His work has also appeared on ScreenJunkies, RottenTomatoes and Inside Streaming.
The Big Ten's $8B Mega Media Deal Kicks Off a New Era in Sports Streaming
Photo by Sean Pierce on Unsplash

Hot on the heels of the shock announcement that both UCLA and USC will be exiting the Pac-12 and joining the Big Ten athletic conference, a fleet of big money media and broadcasting deals have been set.

It’s no secret that access to the lucrative Southern California ad market was a big part of the rationale behind bringing in Los Angeles’ two largest college athletic programs in the fold. With the addition of USC and UCLA, the Big Ten now has teams playing in New York, Chicago and L.A.: all three of the nation’s top media markets. (Further expansions have already been hinted at as well.)

Read moreShow less
RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending