Cryptocurrency has brought to the world many tendencies, and the most trendy among them appears to be NFT. At the center of attention are the digital assets based on the same technology as the leading cryptocurrency Bitcoin – that is, blockchain. Namely, these are virtual certificates of property for digital or physical assets.
NFT tokens have evaded the universe of virtual art. The modern phenomenon has gained traction among crypto millionaires, tech titans, and even pop stars.
As more and more celebrities keep up with crypto and follow the BTC exchange rate, we’ve compiled a list of some of the biggest names riding the NFT wave. The prices for cryptocurrencies you can check on CEX.IO.
NFT tokens as a new type of art
The most recent phenomenon has been the sale of digital art via blockchain. This is a distributed database innovation that stores a specific chain of records referred to as “blocks.” These records are thus protected from plagiarism and manipulation.
NFTs (non-fungible tokens) were initiated in 2017. They represent a type of encrypted tokens in which each element is unique and cannot be modified, replaced, or copied by another similar token, whereas tokens are typically interchangeable. As a result, attaching NFT to any digital representation can be considered original.
Popular people who launched NFTs
The first digital objects available for sale within this scheme were so-called digital currencies, which were photos of people.
The prices for them started at $10,000. Andriy Alyokhin, the founder of the New York project Shark Art, compared crypto punks to Marcel Duchamp’s cult “Fountain.” “Punk” has given birth to a new way of doing things: creators have begun to reconsider what art can be, including how it could be sold and purchased. So did Marcel Duchamp with ready-made: after creating The Fountain, artists realized that it was not necessary to develop new ones, but rather to reevaluate existing ones. Cryptopunks is a similar kind of watershed moment.
Lindsay Lohan sold her first NFT for $57,290 on February 15th. She’s been issuing new NFTs and donating the proceeds ever since. Lohan has become one of Bitcoin’s most opinionated celebs supporters in recent months, tweeting about that frequently. Given the fact that NFTs are based on the Ethereum blockchain, Lohan’s NFT artwork is dripping with Bitcoin — with one digital painting that references Lohan’s 2005 film, Herbie Fully Loaded. Herbie, on the other hand, is dressed in a Bitcoin outfit.
Following the advice of marketing guru Kim Dotcom, Paris Hilton tweeted earlier this month that she is “thrilled to release [her] first NFT.” However, as many cryptocurrency bloggers have noted, Hilton released an NFT last year. In August 2020, the fashionista sold at auction a graphic of her cat on the NFT platform Cryptograph, donating the funds of the 40 ETH sale (worth $17,000 at the time) to the charitable organization.
Shawn Mendes has teamed up with Genies, a company that develops digital cartoon avatars, for a series of NFTs on OpenSea, the world’s largest NFT marketplace. Genies collaborates with famous people such as Rihanna and Justin Bieber to design avatars for online guests. Rather than a cartoon Mendes, Genies created NFT artworks of Mendes’ widely recognized accessories, including his guitar, gold ring, and vest. Andrew Gertler, Mendes’ manager, has joined the NFT mania with his own marketplace, STURDY.exchange. The startup is currently raising a seed round of financing.
Tony Hawk, the iconic skateboarder, announced the launch of a tokenized video showing off his final ever 540-degree ollie via Ethernity Chain. The NFT allows someone to own the final shots of the former pro skater performing the tricks.
Rob Gronkowski, tight end for the Tampa Bay Buccaneers, is the latest star to jump on board. The NFL player collaborated with artist Black Madre and marketplace OpenSea to create five NFT trading cards: four for each Super Bowl victory and one honoring all four wins. On March 11, the 48-hour auction commenced.
The NBA introduced its Top Shot marketplace in 2019, where clients could collect and trade highlight reels using blockchain. It has since sold over $230 million, with personal clips of LeBron James fetching around $200,000 each. Top Shot regular and billionaire businessman Mark Cuban was an early adopter of the NFT rising tide, regularly selling NFTs for upwards of $81,000.
Other celebs who sold their NFTs
The Grimes singer made $6,000,000 by selling 700 copies of her two videos. Banksy’s work, Banksy Morons (White), was burned, converted into an NFT token, and sold for $400,000 USD.
The burning process was streamed live on the Internet. “I can’t believe you’re really buying this shit, you idiots,” read one auction in the Banksy-specific rebels. Twitter CEO Jack Dorsey sold his first tweet for a million dollars. Kings of Leon, an American rock band, will soon release an album with all of the bonuses only available in the form of NFT tokens.
Later, Chris Torres, the popular Nyan Cat GIF creator in the early 2010s, sold the original for $590,000.
NFTs constitute a great opportunity for celebrities as well as smaller creators all over the internet. They provide an operated income stream in which you can exchange digital content for cash without the revenue-sharing models found on patronage platforms such as Patreon or OnlyFans. However, NFT drops from brands and corporations such as the NBA and Taco Bell, which recently introduced its own taco-themed GIF. NFTs have the potential to alter the scenery and divert attention (and money) away from personalities.
There is no doubt that blockchain technology, NFT tokens, and digital currency are bringing about a true uprising. Thus, we’ve discovered a way to make money on digital and online art. NFTs are convenient because anyone can now become an art collector, and without a necessity to make an additional room to store your collection.