Reese Witherspoon's media company Hello Sunshine has teamed up with an NFT collection World of Women (WoW) to create a brand new character universe and franchise, Variety has learned. As part of the agreement, the media company will create films, scripted and unscripted TV series to "educate women about this new space."

Witherspoon noted in a commentary to Variety that the crypto and NFT space is "largely dominated by men," which is why she decided to support inspiring leaders like World of Women.

We look forward to engaging with the remarkable WoW community at every step of this partnership and creating opportunities for WoW holders to work collaboratively with Hello Sunshine on transforming the WoW art into powerful stories.

The timetable for the products and financial sides of the partnerships remain unclear. Yam Karkai, Co-Founder and artist for WoW said she also plans to drop the second NFT collection this year. The company’s NFTs — according to Vanity's estimates — have already generated over $120 million in trading.

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Earlier journalist Max Read found out that many celebrities who own NFTs on OpenSea might have direct or indirect ties with backers that invest in the platform.

According to the report, at least a few buzzy owners of NFTs from the Bored Ape Yacht Club collection (e.g. Jimmy Fallon, Ashton Kutcher) are represented by Creative Artists Agency (CAA), which participated in OpenSea's series B round that brought the company's valuation at the $1.5 billion mark.