Shares of both Hall of Fame Resort & Entertainment Co. HOFV, -23.82% and Dolphin Entertainment Inc. DLPN, +236.33% nearly doubled in premarket trading Wednesday, after companies signed a partnership to offer non-fungible tokens (NFTs). Hall of Fame Resort (HOFV) said late Tuesday that the partnership with Dolphin will allow professional football and sports entertainment fans to buy and sell exclusive content developed by HOFV and its partners. “We are thrilled to be partnering with Dolphin, an emerging thought leader in the NFT market, to accelerate our entry into the space,” said HOFV Chief Executive Michael Crawford. “This partnership will provide us with another opportunity to unlock additional value from the one-of-a-kind media projects we have in development.” HOFV shares soared 95.5% ahead the open, and Dolphin’s stock shot up 86.7%, after rocketing 236.3% on Tuesday following an announcement that the entertainment marketing and content development company had formed a new NFT division. Dolphin’s stock has run up 439.1% year to date through Tuesday and HOFV shares have climbed 227.6%, while the S&P 500 SPX, -0.76% has gained 4.1%.
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