'Sesame Street' To Release Cookie Monster-Themed NFTs On VeVe App

"Sesame Street" is making its way to the cryptocurrency market next week.

Sesame Workshop, a nonprofit organization known for producing several educational children's programs, including the iconic "Sesame Street," has announced that it will release its first NFT (non-fungible token) collection Monday next week in collaboration with VeVe digital collectibles app, Variety reported.

The organization revealed that the first collection would feature the beloved Cookie Monster, with 5,555 editions for sale valued at $60 each, adding that more "Sesame Street"-themed collectibles will launch later this year.

NFTs are cryptographic assets on a blockchain that feature unique identification codes, and metadata often being traded and exchanged for money cryptocurrencies, or other NFTs depending on the market value, according to Investopedia.

It became known in early 2021 after several television studios, musicians, gaming companies, and athletes, among others, launched NFT initiatives to generate revenue and encourage fan engagement.

"Collaborating with VeVe for [Sesame Street's] first collection of digital collectibles is a great way to celebrate [the series'] enduring legacy and give our long-time fans a new way to showcase their love for Sesame Street and its characters," Sesame Workshop VP of global strategic partnerships and themed entertainment Jennifer Ahearn said in a statement obtained by Variety.

VeVe co-founder and COO Dan Crothers said of the collaboration, "Sesame Street is one of the most iconic brands of all time, so we jumped at the opportunity to partner with Sesame Workshop on a series of digital collectibles," adding that they are looking forward to sharing the collection among the VeVe community as well as the "Sesame Street" fans.

Founded in 2018, the app-based marketplace, known for its premium licensed digital collectibles, has sold over six million NFTs so far, according to Veve's LinkedIn page.

It claimed to be the largest mobile-first digital collectibles platform and one of the top-grossing entertainment apps in both Google Play and the Apple App store that utilizes blockchain and augmented reality technologies. Through the app, users may also showcase their digital collections through virtual showrooms.

VeVe has collaborated with other well-known brands, such as Marvel, Disney, Ghostbusters, Star Wars, and DC Comics, among others.

Nearly two years ago, the platform committed to 100% carbon-neutral NFTs and issued over $7 million in grants to environmental nonprofits to raise money for causes through NFT promotions. It also uses "Ethereum's layer 2 scaling protocol, Immutable X, which provides instant trade confirmation, scalability (over 9,000 trades per second), zero gas fees, and a 99.9% reduction in environmental footprint."

The first "Sesame Street" NFT collection drops on March 19.