The first NFTs from the initiative will feature Cookie Monster, the beloved blue cookie fiend from the show, with the initial drop scheduled for March 19 on the VeVe digital collectibles app.

There will be one Cookie Monster NFT collectible with 5,555 editions for sale, priced at $60 each. According to Sesame Workshop, additional Sesame Street collectibles will be released later this year.

Gems are VeVe's in-app tokens exchangeable for digital assets on a 1:1 basis with the U.S. dollar. However, the ability to convert gems back into fiat is still in the testing phase.

VeVe has previously announced plans to be the first-ever carbon neutral NFT platform and committed to 100% carbon neutral NFTs, offering grants to environmental nonprofits to raise money for causes.