iHeart Will Create Unique IP and Content from Both Popular and Emerging NFT Collections That Will Give NFTs Narratives and Personalities -- The First Time NFTs From Different Projects Will Be United Under One Media Universe 

Innovative Approach to Audio Content Creation Marks Another Step in iHeart’s Commitment To Bringing Web3 To The Mass Market

New York, NY – April 12, 2022 – iHeartMedia, the leading audio company in America, announced today a groundbreaking step in advancing awareness of, and demand for, Web3 products and platforms by its mass market consumer audience:  The creation of the Non-Fun Squad, a first-of-its-kind non fungible token (NFT)-based media franchise and shared media universe comprised of characters united across existing prominent PFP (profile picture) NFT collections. Phase one of the Non-Fun Squad universe will be the launch of the Non-Fun Podcast Network, a podcast slate centered around the content, characters and worlds from the Non-Fun Squad.

The IP universe and podcast slate will be created around iHeart-owned NFTs from both prominent NFT collections, including CryptoPunk #2821, Mutant Ape #10144, World of Women #7147 and #7730, as well as from emerging NFT projects, including CrypToadz #5947, Loot (for Adventurers) Bag #2020, and Quirkies #307 and #1988, dramatically extending the boundaries of innovation for audio content creation. iHeartMedia is partnering with federally regulated institutional crypto platform, Anchorage Digital, as a trusted custody solution as iHeart continues to build in Web3.

This marks the first time that individual NFT characters will be united across products and given their own stories, narratives and personalities that will drive their interactions, creating a completely unique experience in the NFT, media and audio spaces.

“There is no real precedent for this,” said Khalil Tawil, EVP and Head of Strategy for iHeartMedia. “Web3 innovations offer an entirely new IP paradigm allowing us to combine the characters from different universes and projects without running into IP rights issues.  These podcasts will be hosted by voices that portray the various NFT characters, and we are only acquiring NFTs that allow us to freely bring to life iHeart-owned NFTs in ways that work for podcasts.”

“As the leader in consumer audio, iHeart is committed to pushing the boundaries of innovation in audio content creation, and with this initiative we’re extending our Web3 and Metaverse strategy by building new experiences to entertain audiences across new and emerging platforms -- and giving our audiences compelling characters, stories and personalities that they’ll connect with,” said Conal Byrne, President of the iHeartMedia Digital Audio Group.   “We are the first company to use our expertise in podcasting, content production, live music and events to bring these characters to life -- and with our 90% reach of Americans every month, we are the only company able to promote and activate this innovative concept at scale and bring it to the mass market.”

“In addition to using our unparalleled reach and connection to our communities to extend Web3 brands and platforms to the mass market, by creating new opportunities for NFTs we’re able to show our belief in, and support for, the creators, community members and artists in the Web3 space, and explore how NFTs, art and content interact together in the Metaverse in 2022 and beyond,” said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. “These NFTs and podcast slate are just the beginning for iHeart’s exploration of Web3 and the Metaverse, and we are excited to be part of this cultural moment.

About Anchorage Digital

Anchorage Digital is a regulated platform that provides institutions simple and secure participation in digital assets, all integrated with custody. As the first federally chartered crypto bank, Anchorage offers the most advanced digital asset platform for institutions and is setting a new standard for security and usability. With secure custody at its core, Anchorage delivers financial solutions for today and tomorrow. Learn more at anchorage.com and @Anchorage.