Friday, May 20 2022 | Time 22:28 Hrs(IST)
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Business Economy


NFT marketplace Hot Drops banned from Consumer Electronics Show

Mumbai, Jan 5 (UNI) NFT marketplace Hot Drops, that has disrupted how creators and fans connect with next-gen content, has been banned from exhibiting from the Consumer Electronics Show (CES) , where it applied to have a presence in the first-year NFT pavilion area.
When launched in early Q1 2022, Hot Drops’ technology will offer safer, more compliant content using smart contracts, age authenticated accounts to purchase or view content and will require manual approval processes for established creators to prevent minors from accessing content or monetizing on the platform. With 12 of its first creators on board having an Instagram following of more than 30 million followers, Hot Drops will also feature a gamification aspect, rewarding loyal fans and communities for their purchases with exclusive content and experiences.
“At Hot Drops, we believe that ALL creators should have equitable access to blockchain and NFT technologies to be able to monetize their brands,” said Ashley Youdan, CEO of Hot Drops, Inc. “Hot Drops is not about sex toys or unprotected adult content, it’s an inclusive platform allowing fans to connect with their favorite creators, build community with other fans, and empowers creators to earn lifetime royalties for their content which historically they haven’t had. We regret that CES® incorrectly categorized us and then refused to discuss why we fell into the banned categories.”
Hot Drops is backed by a team of industry leaders including former adult content creator Ashley Youdan, who retired from performing in 2014 and pivoted her career into computer science and entrepreneurship; as well as a technology team including former veteran senior management from Google, Expedia, and Microsoft. Lead investors and advisors include Transform Ventures founder Michael Terpin who has worked with over 200 Blockchain PR clients and David Jensen, who founded and led EY's Global Innovation and Digital Business team through a period of exponential growth.
In response to this ban, Hot Drops will be partnering with Transform Group, Transform Ventures, and Layer One Networks to hold three events throughout the remainder of CES.
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