3 Celebrities You Didn't Know Have NFTs
Non-fungible tokens (NFT’s) have given digital assets a whole new meaning and Hollywood celebs are of the many people who’ve taken part. What seemed to be just another extension to the fascinating (and confusing!) world of cryptocurrency, the NFT marketplace piqued the interest of those beyond the crypto-enthusiasts and has evolved to become a unique way for celebrities to connect with loyal fans.
NFTs have given celebrities the chance to try their hand at something new upon creating one-of-a-kind art with unique value. Once creating an NFT, the opportunities of what to do with it are almost as unique as the NFT itself. In this blog, Hollywood Branded shares 3 celebrities that have taken NFTs to the next level.
What's An NFT Anyway?
Before we get into it, let’s talk about what NFTs actually are first. NFT’s represent a unique digital asset that is one-of-a-kind and therefore, not interchangeable or for the namesake, non-fungible. Think of the Mona Lisa. Although there are many other existing prints of the infamous image, there is only one canvas that Leonardo Da Vinci painted her on and it resides at the Louvre in Paris. So in the simplest terms, owning an NFT is like having your own original copy of the Mona Lisa. They can come in the form of visual or audio-visual digital assets (like a photo, GIF, music, videogame, etc.) that are issued in authenticated limited editions.
Now, how is it a token? Because it resides on the blockchain! Like cryptocurrency coins, NFTs are considered tokens with value, and ownership of that digital token is recorded and certified on the blockchain. Most NFT marketplaces operate on cryptocurrency exchange like Ethereum, so in order to buy and sell an NFT you’ll have to have an established digital wallet. If you’re still a little confused, check out SNL’s Pete Davidson and Chris Redd’s entertaining and educational performance on what an NFT is.
How Did Celebrities Get In The Mix Of This?
With the rise in popularity of NFTs many digital artists and creators have seen great success in sales of their work. Buyers are willing to pay thousands upon millions to acquire an NFT either because of an appeal to the specific artwork itself or just solely for ownership bragging rights. To this date, the most successful example of one NFT sale is by a digital artist named Beeple, which sold for $69 million. With success like this, celebrities saw an opportunity to take their talents to a new digital realm while also creating a new way to connect with their fanbases.
From selling digital art in forms of collectibles, unreleased music, self-portraits and anything else under the NFT sun, 2021 has been a big year for celebrities in the world of NFTs. To name a few, celebs like The Weeknd, Grimes, Kings of Leon, Paris Hilton, and more have had some very successful NFT “drops” since the craze started. Let’s take a look at three more celebrities that have also dabbled in this phenomenon that you might not know about.
George Lopez
Legendary stand-up comedian and actor George Lopez partnered with trailblazing digital artist Ali Sabet and NFT producer BLKPRL to launch his first-ever NFT, Cha Cha Lucha. The collection was released this past July and features colorful Mexican wrestling art that was co-designed between Lopez and Sabet. Together they designed 50 limited edition Cha Cha Lucha’s which reflect the Lucha Libre wrestling fights Lopez watched as a kid. So for George Lopez, this NFT collection had quite some personal meaning behind it.
The collection sold out within a week of its release on NFT marketplace Original Protocol at $1,850 each. A portion of the proceeds from the auction went to the George Lopez Foundation, which helps children who are dealing with kidney diseases, which Lopez himself also suffered from. On top of obtaining the Cha Cha Lucha artwork, buyers also had the opportunity to meet George Lopez and attend his Celebrity Golf Classic. So much heart and soul in this NFT collab!
Post Malone
In March, rapper Post Malone took somewhat of a different approach to an NFT launch; NFTs that blur the line between art and experience. Posty partnered with NFT marketplace Fyooz to launch Experience NFTs where token holders could get up close and personal with the celeb in a variety of ways. Post Malone’s concert streaming service AUX Live was able to mint these Fyooz-based NFTs to heighten the experience for his fans and give them a way to interact with the artist.
Malone’s collection was meant to memorialize concert experiences especially in the midst of the pandemic, a time where attending concerts was out of the questions for many.
Such perks to being a token holder of this collection involved playing virtual beer pong with Post, virtually going “backstage” and “flying” to the concert venue with him. The opportunity was part of a suite of drops for fans and the only way to access these drops were to hold the token FYZNFT. The Post Malone Experience NFTs were auctioned off on March 25 and holders of at least 1,000 FYZNFTs were granted access to become a Fyooz Moon Club member (where exclusive celebrity drops are held on the site) as well as a free NFT animation.
Doja Cat
With all these celebrities launching their own NFTs, female rapper Doja Cat took it to the next level by launching her own NFT marketplace, Juicy Drops. Making history, she is indeed the first woman and artist to have her own NFT marketplace. In collaboration with NFT startup Intellectable Holdings, Doja Cat stated: “I’m helping to launch my own NFT company so that I can actually own and control all my art. I want to be able to make all decisions related to my creative vision and help other artists do the same. My ownership allows me to direct how we can give back to causes that I truly believe in.”
Juicy Drops curates a creative hub for artists, athletes and creatives to share and sell their unique collectibles to collectors and fans globally. Upon the marketplace launch in April, Doja also dropped her own collection of NFTs, making it the first collection to be featured on Juicy Drops. The collection is said to be inspired by her performance on this year’s Grammy Awards which include 3D graphics featuring a spinning depiction of Doja Cat and separate images of her beloved cat, Alex. The 6 collectibles, co-designed with BOOMTRONIC, were split in two tiers of rarity: the “Metallic” Tier and “Flavored” Tier, each with different color variations. Fans who managed to collect all 6 rarities also had the opportunity to unlock a Mystery Tier which came with high-coveted perks including become the ultimate Doja VIP for her 2022 tour.
Launching your own NFTs is one thing, but Doja Cat’s ability to bring her own NFT marketplace to life most definitely reflects her creativity and true appreciation for digital artists across the globe. Can’t wait to see what other NFTs drop on Juicy Drops in the future!
NFTs Aren't Going Away Anytime Soon
Celebrities have leveraged a refreshing and unique way to interact with their fanbase through the digital world of NFTs. NFTs have been making their way towards the top of the marketing trends and celebs aren’t the only ones hopping on the bandwagon. Just in this year brands like Taco Bell, Charmin and Nike have minted their own NFTs. Whether it’s offering an exclusive deal for NFT holders or donating the profits of an NFT sale to charity, the opportunities are endless for NFT creators. With that being said, it may be time for your brand to consider minting one too!
Learn More About The Digital World
Technology has been advancing at warp speed over the past few years and has opened many new opportunities for brands, celebrities and influencers to take part in all the action. Check out these blogs to learn more about the current trends in the digital world and how they’ve made their way into Hollywood!
- Blockchain’s Impact On Branding And How To Leverage With Influencers
- What's The Deal With NFTs?
- How Cryptocurrency Is Changing Business With Jamar James
- Understanding Blockchain
- Increasingly Personalized Digital Experiences
NFTs are just one of many new trends in entertainment marketing. It's important to stay in the know so that your brand is always on up to speed or even ahead of the curve! Read our survey to learn what brands, agencies and consumers consider best practices for entertainment marketing.
