Celebrity NFTs – What Do They Actually Achieve?
08 April 2022 - 03:32AM
NEWSBTC
More and more celebrities are joining in on buying and creating
NFTs. But where can you actually buy a celebrity NFT? And what does
it achieve? During your morning social media scroll, you may have
noticed, among all the selfies and vacation photos, the messages
from celebrities endorsing NFTs. NFTs are assets on the blockchain
that are unique thanks to their identifying information recorded in
smart contracts. Creators may tokenize anything from music and
photographs to videos or illustrations using NFTs. Most of the
discord surrounding NFTs goes down on Twitter since the platform
supports NFTs being used as profile pictures in hexagonal frames
instead of the typical circle frames everyone else has to use. As
the hype grows, celebrities like Paris Hilton, Justin Bieber, and
Gwyneth Paltrow have joined the bandwagon. If you have the rare
privilege of owning a Bored Ape Yacht Club NFT, you know you get
exclusive access to communities and digital rooms where your
favorite celebrity hangs out and talks to fans. But it’s not just
about buying the latest ape from the Bored Ape Yacht Club or
nabbing the latest XCOPY artwork. Celebrities are now creating
their very own NFT pieces; Snoop Dogg, for example, has his
collection up on OpenSea, and Paris Hilton has teamed up with
Superplastic to curate the “Past Lives, New Beginnings” collection.
Canadian musician, Grimes, has sold $6 million worth of digital
artworks owing to the fact that she was among the first to cash in
on the NFT game. Her WarNymph collection of 10 artworks made Grimes
among the best-selling NFT creators in the world, successfully
creating enough hype and demand for her work. Even Eminem jumped on
the bandwagon when he released his “SHADYCON” collection on Nifty
Gateway, raising $1.8 million selling digital action figures and
instrumental tracks. The problem here, of course, is that not
everybody can get their hands on a piece of art created by their
favorite star. When they miss out on upcoming celebrity NFT drops,
they miss out on the chance to connect with these celebrities. This
creates an untapped potential in the space, and one company has
figured out how to capitalize on it while giving fans a chance to
get closer to their idols. With so many celebrities emerging as
voices for cryptocurrencies and NFTs today, there is a need to
create a space for singers, actors, and sports stars where they may
produce and host their collections for a wider audience. Making it
easier for them to join in the blockchain revolution may even
encourage long-time fans of these artists to take the plunge into
cryptocurrency and NFTs themselves. This platform for celebrities
will be hosted by nOFTEN, a brand-new NFT marketplace bringing the
luxury gallery experience to the digital world. This digital
gallery, however, will only feature collections curated by
celebrities for fans to trade, share, buy, sell, and experience
special moments never seen before. The platform serves as a medium
to connect artists with their fans, creating a simple way for them
to engage with dedicated fans and reveal exclusive content in the
form of NFTs. These contents would include a personalized video, a
new song, a chance to dine with a celebrity, and a video call,
among other prizes. All of the above would be supported by the
blockchain network, Etherlite, and incorporating these along with
the website will tie the whole project together and encourage both
communities – artists and fans – to participate and engage with
each other. The digital gap is closing as people move to the
metaverse for everything from work and school to grocery shopping
and sports. nOFTEN closes the gap further by connecting artists
with their adoring fanbase, providing both with an opportunity to
learn, marvel at the art, and grow.
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