Which Celebrities are Cashing-in on NFT

Celebrities are cashing-in on NFt as the non-fungible token are taking the world by storm.

The introduction of blockchain technology has disrupted several sectors. Contrary to popular belief, blockchain technology has much more uses than digital currency alone.

One of the most innovative uses of blockchain technology is in digital exhibits of art and goods. Collectors can now invest in “NFTs,” or unique digital tokens representing ownership of works of art, instead of purchasing the actual artifacts themselves.

Millions of dollars have been produced through the sale of various NFTs. It is projected that as blockchain technology advances, it will play a significant role in expanding digital assets as it advances. If you want to benefit from the growth of NFTs, you must equip yourself with all accessible knowledge.

In this video, we will discuss NFTs, their growth potential, trends of celebrities towards NFT and their future.

Before going into detail, see the quick idea of what NFT is.

What is NFT?

NFT stands for non-fungible token. Tokens that cannot be exchanged for fiat money are NFTs. Non-fungible tokens are digital representations of fundamental things like artworks, movies, music, and gaming items (NFTs). Even though there are just a few remaining NFTs for sale, they have significant collectible potential. Legal ownership of the item and access to copyright data may transfer to you when you acquire a non-fungible token, but this is not always the case. The owner of NFT can create NFTs at any one time.

Commonly, NFTs are exchanged on cryptocurrency exchanges. Both use the same underlying encryption technique. If you purchase NFT, you may keep it in a digital wallet, just like other cryptocurrencies. NFTs are distinctive due to their singularity. Tokens that are non-fungible and have a unique signature may only be sold. This implies that the original copy of a work cannot be copied regardless of the number of times it is seen.

Is Investment Worthy?

With the advent of NFTs, the value of several digital art and assets on the global digital market has increased. For instance, Twitter CEO Jack Dorsey made almost $2.9 million on selling his first tweet in the form of NFT. In addition to these programs, several more have received substantial financing. The point here is whether investing in NFT is worthwhile.

Similar to how the value of a painting or sculpture is determined, so is the value of an NFT. Before investing in NFTs, it is essential to do an exhaustive study. A buyer should research the digital artwork’s present market worth and growth prospects before purchasing.

Buying an antique is similar to purchasing a classic automobile; you never know if you’re getting a priceless piece of art or total rubbish. Due to this, the NFT’s worth is determined by the thoroughness with which you analyze a transaction.

Due to the recent introduction of NFTs to the market, extensive research is more critical than ever. Some have hypothesized that the recent surge in the value of NFTs represents a bubble that may eventually collapse, resulting in losses. All important innovative concepts have survived previous bubbles. Therefore, it should not deter you from investing in NFTs.

Celebrities Trend Towards NFTs

Celebrities are often ahead of the curve in several fields, including fashion and finance. Numerous notable persons have invested in potential assets, such as NFTs and other cryptocurrencies. Here is the list of some top celebrities who have invested in NFTs.

●     Snoop Dogg

Snoop Dogg is among the notable celebrities that like playing the NFT game. The rapper revealed himself to be the art collector Cozomo de’ Medici, valued at around $17 million in NFT at the time. In 2022, Death Row Records will be reincarnated as the innovative “NFT label,” according to Snoop Dogg.

●     Jim Carrey

Jim Carrey spent roughly $40,000 on his first NFT in 2022. It is a painting with a series of thirteen named “The Wild Within” and is titled “Devotion.” Alice Wexell and Ryan Koopmans produced artwork depicting abandoned structures in the Soviet Union. Carrey ordered a second “Nuclear Taco Trucks” NFT later that year.

●     Paris Hilton

In addition to tweeting and speaking in favor of NFTs, Paris Hilton has teamed with “Superplastic’s synthetic superstar, Dayzee,” to produce her brand of NFTs. Paris: Previous Lives, New Beginnings is her autobiographical NFT series title.

●     Shawn Mendes

In 2021, Shawn Mendes was among several renowned musicians who released albums of NFTs. Mendes collaborated with Genies, a 2D avatar firm, to create digital reproductions of his most recognizable possessions using NFTs. Mendes’ trademark Fender guitar, a gold ring, and an embroidered jacket were among the items for sale.

●     Steve Aoki

Steve Aoki, one of the world’s highest-paid DJs, said in February 2022 that he earned more from NFTs than music royalties. The DJ may have been somewhat dishonest when he said that he earned 95% of his income from live concerts in 2021 while claiming to earn $888,888.88 from selling a single NFT (no royalties). Aoki owns several NFTs from the Bored Ape Yacht Club and established the Aokiverse, an NFT-based membership organization.

●     Mark Cuban

Mark Cuban, a multimillionaire with no issue expressing his opinion on anything from sports to economics, is a font of knowledge. Time2play asserts that Cuban is the most influential individual in the NFT sector. Cuban has long advocated for NFTs, describing their smart contract integration as “game-changing.” This, according to Cuban, suggests that developers may earn more money on the NFT secondary market. Cuban has supported several NFT initiatives, including OpenSea, Nifty’s, CryptoSlam, Mintable.app, and nifty42.

●     Eminem

Eminem made waves in December 2021 when he purchased a non-floating NFT at the Bored Ape Yacht Club for a high price. Almost $450,000 was used to create the “EminApe” NFT by the rapper. In contrast, Eminem has far more intangible assets. In January 2022, it was revealed that he had at least 284 NFTs, some of which were exceedingly rare. The example given is “Shaq Returns #4077.”

●     Kate Moss

In the spring of 2021, supermodel Kate Moss began auctioning off NFTs through videos. In the video, Moss is shown getting ready for bed, getting into her vehicle, and taking a stroll in the woods, among other regular activities. “NFTs fascinate me since it is a new creative medium that I can directly engage with and control my picture,” explains Moss.

●     Lindsay Lohan’s

Lindsay Lohan’s early use of NFT technology has yielded enormous returns. By manufacturing one-of-a-kind NFTs for her loyal fan base to buy, Lohan amasses a fortune. After selling the “Lightning” NFT for $50,000 in February 2021, Lohan gained an extra $85,484.09 from selling her first single that same month. In 2022, she intends to supply experience NFTs and guidance to the Superfandom marketplace through the Stacks blockchain.

Anthony Hopkins, Joined the NFT

Oscar-winning actor Sir Anthony Hopkins has developed his collection of NFT titled The Eternal Collection in collaboration with NFT business Orange Comet.

●     Eternal Collection

The Eternal Collection, a three-drop project, consists of ten computer animations of Hopkins, each representing a distinct Jungian character archetype. The use of elements from Hopkins’ paintings was an obvious aesthetic decision. According to preliminary plans, it will release on September 16 on the Opensea platform.

The name of the project, Orange Comet, alludes to Hopkins’ contribution to developing the everlasting archetypes that serve as the collection’s inspiration. Typical cartoon characters include the Hero, the Rebel, the Magician, the Sage, the Ruler, the Explorer, the Lover, the Creator, the Donor, and even the Joker. Each will play for around 30 to 45 seconds. One thousand NFTs will be decommissioned, and one hundred PFP variations will be made accessible for each of the 10 Jungian character themes from the cartoons.

Mike Tyson’s Entry into NFT Market

Heavyweight boxer Mike Tyson has issued a set of non-fungible tokens known as the NFT Mystery Box. The Binance NFT marketplace is presently offering the NFT series, a collection of artworks and images from the career of Mike Tyson. This NFT series purchasers are eligible for extra benefits. No bidder is permitted to collect more than fifty “Mystery Boxes.” In all, fifteen thousand are up for grabs.

Mystery Boxes include one of the five NFT designs (bronze [N], silver [R], gold [SR], platinum [SSR], or diamond] (SSR). Binance said in a press release, “Users have the chance to win extra Mike Tyson goods for every NFT they earn.”

Several other boxers, notably Tyson, have launched their lines of digital memorabilia for the NFT market. Wladimir Klitschko, two-time heavyweight boxing world champion, debuted an NFT series on the OpenSea marketplace in early March. Since February 24, Ukraine has been at war with Russia; the boxer was attempting to raise funds for the nation.

NFTs Future

Regardless of the situation, I believe that NFTs have a bright future. Similar to how the introduction of the internet twenty years ago profoundly impacted society, NFTs and blockchain technology is anticipated to have a similar effect in the future. It is not implied that every single NFT ever created is faultless. NFTs will exist for the foreseeable future, notwithstanding my forecast that 98% of those now trading will fail.

Given the trajectory of our civilization, it would be foolish to disregard the opportunities that this technology presents. Creativity and innovation have reached new heights with the advent of NFTs, not only in the entertainment and creative sectors. Both startups and Fortune 500 organizations use NFT technology to expand their customer base and boost revenues.

For the NFT market to be extensively embraced, it must be simplified for individual investors, according to experts. Although OpenSea is the most popular P2P trading platform for NFTs, other firms are attempting to increase the popularity of NFTs. For example, the well-known cryptocurrency exchange Coinbase has now introduced a market for buying, trading, and collecting NFTs.

Conclusion

Since their inception, NFTs have grown so popular that they are available for purchase in every imaginable retailer. Boxers such as Mike Tyson, singers such as DJ Khaled,  and celebrities like Snoop Dogg have all shown their support for the NFT movement.

Regardless of what else we may have learned over the last several years, one thing is sure: the NFT is not stopping anytime soon. NFTs, made possible by blockchain technology, have altered our perception of digital art and, more significantly, property rights. Every day, it seems, an intriguing new NFT project is introduced. NFTs have a bright future. To some, NFTs may seem like just another investment opportunity, but they may revolutionize how we consume and produce information.

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