Celebrity NFTs – What Do They Actually Achieve?
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.