Cinedigm (CIDM) Gains on Plans to Enter NFT Market

Cinedigm (NASDAQ: CIDM) gains 13% in pre-open trade after disclosing it is entering the NFT market.

Yesterday, the company made the following disclosure on Twitter:

“1/ $CIDM We have had numerous inquiries about our involvement in the #NFT market. Cinedigm is excited about the rise in consumer adoption and commercial prospects for #NFT. Given our extensive film library, deep connection to fandom and collectibles, and

2/ $CIDM's strong brand partnerships and technology capabilities, I have directed our product team to develop new NFT products to enhance the user experience of our loyal audiences.

3/ $CIDM To be clear, these new #NFT initiatives are to support our core mission: creating great streaming channel and content experiences for our passionate user base. More to come. - Chris McGurk, CEO”

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