Benzinga | Apr 7, 2021 09:39AM EDT

So What's Up With Genius Brands Stock?

In Genius Brands International Inc (NASDAQ:GNUS) annual CEO letter to shareholders Tuesday, the company took the time to address where it sees itself in the emerging space of non-fungible tokens (NFTs).

An NFT is a blockchain-based tokenization of a collectible item or art piece. NFTs certify digital ownership and authenticity, stored publicly on the blockchain for quick verification.

"With the recent excitement surrounding NFTs (non-fungible tokens)," the company said, "many companies have come to us with proposals to enter that space. Genius would be a perfect company to flourish in NFTs, because of 4 points. We have:

* Highly Recognized Characters and Pre-Sold Intellectual Property including Original Art, Original Audio, and Original Video, with Built-in Brand Equity.

* We have Platforms that create exposure and continuing awareness for our characters and properties.

* Several of our characters, like "Stan Lee," have followings in the many millions."

Shares of Genius Brands are trading slightly higher by 1.1% in Wednesday's premarket session.