Benzinga | May 11, 2021 09:10AM EDT

Vinco Ventures' EVNT Platform (d/b/a Emmersive Entertainment) Subsidiary Reports It Has Pre Sold Its First Of 3 Emmersive Non-Fungible Tokens Released As A Package Investment To A Private Third-Party Investor, Valued At $2M

Vinco Ventures, Inc. (NASDAQ:BBIG) a leader in selective acquisitions who leverage new market opportunities by utilizing the B.I.G. Strategy: Buy. Innovate. Grow. today announced its subsidiary, EVNT Platform, LLC (d/b/a Emmersive Entertainment), has pre-sold the first of three exclusive Emmersive NFTs (E-NFTs) released as a package investment to a private third-party investor.

The deal structure includes an initial payment of Two Million Dollars ($2,000,000) for the three-celebrity set. The unique digital assets are expected to generate additional monies through revenue sharing based upon their individual sale prices determined in an upcoming digital art auction at one of the world's preeminent auction houses.

"We are thrilled to have executed our first pre-sales in the space," said Emmersive Co-Founder, David J. Kovacs. "We will re-define digital art and entertainment through our Augmented Reality Experience and look to continue to push the limits on technology. We are confident this is only the beginning as our company becomes an industry leader within the NFT universe," added Kovacs.

Erik Hicks, Co-Founder of Emmersive Entertainment said, "This is the first step in the combination of entertainment, technology and finance for our organization. We are creating a unique experience that will revolutionize the entertainment industry while creating immeasurable value to the collector."

Emmersive Entertainment has filmed the first artist in the three-piece collection with plans to complete it in its entirety within the next 45-60 days.