Puppies are now joining the crypto space.
In honor of this year’s Puppy Bowl, the competition that airs annually in parallel with the NFL’s Super Blow, Discovery Communications will be selling 23 exclusive digital collectibles known as nonfungible tokens (NFTs).
Each Puppy Bowl will be represented by an NFT that will “feature unique and pawsitively adorable trading cards varying in price and rarity,” the cable TV giant said in a press release about the drop.
A portion of the revenue will be allocated to an animal rescue organization known as Orange Twins Rescue. The organization was founded by singer Ariana Grande and brothers Scott and Brian Nicholson, according to Discovery, the owner of the Animal Planet channel that will air the show.
Non-fungible tokens are digital assets that live on the blockchain. Each NFT is 100% unique, and owners of a particular NFT will own all the rights of their NFTs for as long as the blockchain technology exists. The market for digital collectibles saw exponential growth in 2021 and estimates suggest that the market has topped $41 billion. The most expensive NFT sale was a $69 million deal of Beeple’s “Everydays.”
The Puppy Bowl was first aired in 2005. The goal of the show is to promote caring about animals, rescue them, and provide them with shelters that protect them. For 2022’s Puppy Bowl XVIII, Discovery explained that 100 adoptable dogs from 33 states will sport their bandanas for r “Team Ruff” or “Team Fluff” on February 13 at 2 p.m. ET, just hours before the Super Bowl airs.
On each week leading up to the bowls, Discovery will drop new NFTs. The value of the NFTs will be defined according to the auction site Chronicle. They will be sold for anywhere between $20 and $100. The digital collectibles are based on the proof-of-stake system that has a smaller carbon footprint than the proof-of-work one.