Dolphin Entertainment, Inc. (NASDAQ: DLPN), through its subsidiaries, is engaged as an independent entertainment marketing and premium content development company. Shares of the entertainment and marketing company are soaring 179%, through afternoon trading on Tuesday, March 23, 2021. Over the past three months, Dolphin Entertainment has seen average daily volume of 599,520 shares. However, volume of 122.31 million shares or dollar volume of $1.88 billion, has already exchanged hands through afternoon trading on Tuesday.
Shares of Dolphin Entertainment are soaring after the company announced the launch of a new division that will focus around non-fungible tokens (NFTs). Specifically, the division will design, produce, release, and promote NFTs that are owned by the company and its clients. Management notes that the move into NFTs is a natural course for Dolphin Entertainment, which is believed to help serve as an additional revenue source for the company.
Dolphin Entertainment, Inc. Press Release:
MIAMI, FL / ACCESSWIRE / March 23, 2021 / Dolphin Entertainment, Inc. (NASDAQ:DLPN), a leading entertainment marketing and premium content production company, announces that it has formed a new division which will be dedicated to designing, producing, releasing and promoting NFTs for itself and its clients within the film, television, music, gaming, epicurean, and technology industries.
“NFTs, whether as digital art in their own right, or as collectibles, or simply as promotional items, have entered the realm of pop culture and entertainment, which is where Dolphin lives,” said Bill O’Dowd, CEO of Dolphin Entertainment. “We believe Dolphin’s best-in-class entertainment marketing companies are uniquely positioned to capitalize on the expanded promotional capabilities that NFTs represent, as well as to maximize their potential revenue streams. We expect several upcoming projects and partnerships that will combine our creative and marketing expertise to bring exciting offerings to the NFT marketplace.”
Dolphin’s new division is comprised of executives across all six of Dolphin’s wholly-owned subsidiaries who will blend their collective expertise in creative services, digital design, production, marketing, sales and public relations.
About Dolphin Entertainment, Inc.
Dolphin Entertainment is a leading independent entertainment marketing and premium content development company. Through our subsidiaries 42West, The Door and Shore Fire Media, we provide expert strategic marketing and publicity services to many of the top brands, both individual and corporate, in the film, television, music, gaming and hospitality industries. Viewpoint Creative and Be Social complement their efforts with full-service creative branding and production capabilities as well as social media and influencer marketing services. Dolphin’s legacy content production business, founded by Emmy-nominated CEO Bill O’Dowd, has produced multiple feature films and award-winning digital series.
This press release contains ‘forward-looking statements’ within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may address, among other things, Dolphin Entertainment Inc.’s offering of common stock as well as expected financial and operational results and the related assumptions underlying its expected results. These forward-looking statements are distinguished by the use of words such as “will,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” or “intend,” the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, Dolphin Entertainment’s actual results may differ materially from the results discussed in its forward-looking statements. Dolphin Entertainment’s forward-looking statements contained herein speak only as of the date of this press release. Factors or events Dolphin Entertainment cannot predict, including those described in the risk factors contained in its filings with the Securities and Exchange Commission, may cause its actual results to differ from those expressed in forward-looking statements. Although Dolphin Entertainment believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved, and Dolphin Entertainment undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.
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