29 November 2023
NFT, also known as Non-fungible tokens, is the new hype in the world of Blockchain and Cryptocurrency. NFT is a digital asset that exists on blockchain technology with cryptocurrency. It consists of digital artwork - image, video, audio, GIF, a tweet, a video game item, and so forth that states the artwork’s ownership. Even though it can be duplicated or reshare, the concept is exclusive since it shows the artwork’s authenticity and uniqueness.
The first considered NFT was back in 2017 of the CryptoPunks pixelated portraits, while at the end of 2020, Punk prices spiked to thousands of dollars. It also served as an inspiration in 2018 to the CryptoKitties - a platform based on Ethereum that centers adorable unique kittens which also are breedable and collectible.
People on their first go with NFTs are selling their artwork worth a million dollars. Chris Torres - the artist who created Nyan Cat, minted a GIF from the famous internet meme, which was sold for $590,000 worth of Ethereum. It was followed by Dogecoin-inspired NFT which was purchased on the crypto art platform Foundation at 45 ETH.
In February, Logan Paul, who is also popularly known as the second most hated person on the Internet, sold on his first launch $5 million worth of NFTs. He sold a set of digital images of Pokemon cards featuring in 3 different colors an anime version of himself, wherein, Matte Black ($17,000 each, with 3 minted), Gold ($1,500 each, with 111 minted), and Silver ($370 each, with 777 minted). For his coming ventures, there is also news about him partnering with Bondly - an NFT collection platform powering digital collectible with crypto projects, artists, and brands.
Also Read, Everything You Need To Know About NFT
According to a report by Dapp Radar, in February 2021, the NFT market accounted for trading volume worth $342 million. NFT is the spectrum of digital artwork that creates a potential for art and opportunities for the people associated. Many celebrities are cashing in and making millions through NFTs.
8 Celebrities Binging In The NFT Space / Top 8 Celebrities Cashing In The NFT Space
1. William Shatner
One of the first notable NFT enthusiasts was none other than Captain Kirk! In July 2020, William Shatner minted 10,000 digital trading cards (NFT packs). The cards featured images of his life and career, amounting to approximately 125,000 NFTs in total. The images included a photo of him hugging Leonard Nemoy and funnily also Shatner’s teeth X-ray. The assets were sold in 9 minutes wherein a 25-card pack cost $25; however, the resale value is much higher now. Also, the rare cards by Shatner were sold for $6,800.
William Shatner told Cointelegraph, “The cards themselves represent a beautiful past,” “The verification of being on the blockchains represents a great future. So we have the past and the future mixing together.”
2. Paris Hilton
The tweet by Paris Hilton created a buzz when she announced her excitement to release her first NFT, it was followed by Kim Dotcom’s advice - a tech entrepreneur. However, it seemed that she had already released NFT a year before, in August 2020, which included auctioning of her own cat’s drawing with Cryptograph. She also donated the proceeds of the 40 ETH sale to a charity.
3. Lindsay Lohan
On February 15, Lindsay sold her first NFT for approximately $57,290. Ever since, she has continued to mint more NFTs and her donations of the proceeds. Although NFT is based on the Ethereum platform, Lohan’s artwork has much focused on Bitcoin. It also included a digital painting from her 2005 film - Herbie Fully Loaded, where Herbie is all fancied in Bitcoin!
4. Shawn Mendes
Shawn Mendes collaborated with Genies for NFT’s series on OpenSea - an NFTs marketplace. The artworks included his accessories such as the guitar, vest, and gold ring.
Also Read, Crypto-collectibles and Blockchain
5. Jack Dorsey
Jack Dorsey - the founder of Twitter, and also one of the prominent supporters of cryptocurrency. He minted an NFT of the post “just setting up my twttr” to the auction. Sina Estavi - CEO of Bridge Oracle bid $2.5 million on Valuables - NFT marketplace.
6. Soulja Boy
The famous ‘Crant That’ artist, Soulja Boy, sold five tweets as NFTs in almost 3 hours and sold a signed copy of his first tweet “How do I sell my tweets” for $1,288.
Grimes - a Synthpop star and a Canadian musician, also Elon Musk’s girlfriend. On February 28, she made in the news for making $5.8 million in under 20 minutes by selling her NFTs on Nifty Gateway. The collection consisted of 10 NFTs titled “WarNymph” and was in collaboration with her brother Mac Boucher. The art includes snippets from her upcoming music, winged babies sporting javelins, elves’ ears, and tattoos in the dystopian world.
8. Mark Cuban
Mark Cuban - a billionaire entrepreneur, was one of the early participants in NFT space who sold NFTs worth upwards of $81,000.
He wrote on his blog, “Some people might complain that I can get the same video on the Internet anywhere any time and watch it,” “Well guess what, I can get the same picture on any traditional, physical [baseball] card on the internet and print it out, and that doesn’t change the value of the [actual] card.”
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.