Monetizing Celebrity Through NFTs (Non-Fungible Tokens) | Drudge Retort

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Friday, March 05, 2021

Monetizing Celebrity Through NFTs (Non-Fungible Tokens)

Fans are willing to pay for more exclusive content or experiences from their favorite celebrities, with the prime example being the way in which the price of concert tickets is spiraling ever upwards. But often the live-event model falls short, for fans who don't live in major cities or when a pandemic strikes, and want something more permanent.

Posted by LampLighter at 01:33 PM | 8 COMMENTS | permalink | Comment on This Entry |

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...What's new: Some celebrities are turning to NFTs, digital tokens that can be unique or that can come in editions of thousands or more, which are reasonably permanent and come with the promise of never degrading. They can also come with perks like limited-edition vinyl or even a custom song.

By the numbers: Musician 3LAU raised $11.6 million in an NFT sale this week.
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#1 | Posted by LampLighter at 2021-03-05 12:12 AM | Reply

My first reaction was...

WTF is a NFT And why would anyoe want a NFT.

The first part of my question was answered to my satisfaction.

But that second part....

#2 | Posted by LampLighter at 2021-03-05 12:14 AM | Reply

Semisonic - Down In Flames
www.youtube.com

#3 | Posted by LampLighter at 2021-03-05 12:16 AM | Reply

Personally I pay more for experiences (travel and when we could do it theater and concerts) than "things"

#4 | Posted by LegallyYourDead at 2021-03-05 01:40 PM | Reply

Perfect line from the article...
...concerts can't create something unique and permanent.
I've gained many valuable unique and permanent things from concerts. Memories, friendships, knowledge, and hearing damage.
This is definitely something for folks who value things over experience.

#5 | Posted by TFDNihilist at 2021-03-05 04:48 PM | Reply

I understand blockchain, but I don't understand NFTs when you don't get exclusive IP to the content and fakes are effortless to produce.

Take NBA TopShot NFTs for example: NBA highlights on digital "cards." NFT tokenized LeBron James highlight of a dunk... or go to YouTube and watch the same dunk as a video clip.

Similar to the industry of physical art, some of the big money sales may be money laundering or efforts between a group of informed participants to bid up an asset before cashing out.

#6 | Posted by GOnoles92 at 2021-03-05 04:54 PM | Reply

More like monetizing stupidity.

#7 | Posted by DarkVader at 2021-03-06 09:47 AM | Reply

This centuries collectable plates.

#8 | Posted by bored at 2021-03-06 06:48 PM | Reply

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