Benzinga | Oct 21, 2021 12:10PM EDT

Playboy Unveils New NFT Project, Rabbitars

* PLBY Group Inc (NASDAQ:PLBY) has launched its newest collection of NFTs, Playboy Rabbitars. Playboy will release 11,953 unique Rabbitars, 3D rabbit characters, in NFT form.

* Playboy's Web3 Innovation team created the Rabbitars in partnership with Possible Studios and WENEW, the art studio and blockchain technology company co-founded by Michael Winklemann and Michael Figge.

* In the context of the metaverse, the Rabbitars are NFTs that live on the Ethereum Blockchain as ERC-721 tokens hosted on IPFS (InterPlanetary File System).

* Price Action: PLBY shares are trading higher by 2.52% at $28.48 on the last check Wednesday.