It is no longer surprising that a new craze has swept the world in the crypto realm, as NFTs, or non-fungible tokens, have gained significant popularity in recent years. Celebrities tweet about NFTs and videos showing thousands of fans buying the merchandise they offer. This has helped NFTs become more popular and more expensive.
An NFT is a blockchain-based asset, which uses smart contracts to store identifying information about it. With NFTs, celebrities are tokenizing everything from music to photographs to artwork. These are some of the biggest names that entered the NFT marketplace and profited from it.
In an NFT drop that lasted only 48 hours, rapper Snoop Dogg earned over $100,000 for just one piece sold. The NFT collection featured Snoop’s memories from his early years, NFT-inspired artwork, and an original song called “NFT.”
A rapper, a songwriter, and a record producer, Eminem launched his NFTs on Nifty Gateway last year and raised $1.8 million. Eminem’s videos, digital action figures, and original instrumental tracks were some of the items sold.
Shawn Mendes, a famed musician, has joined the NFT space OpenSea and launched an NFT based on his album Wonder with Genies. A guitar, necklaces, vests, and earrings were among the digital wearables Mendes offered for sale and earned him more than $600,000. Shawn Mendes made around $1 million in digital sales in 10 minutes, according to Akash Nigam, CEO of Genies.
A vinyl toy and digital collectible brand backed by the likes of Google Ventures and Justin Timberlake, Paris Hilton, queen of pop culture and entrepreneur, released her first NFT. The Hilton Collection includes 141 pieces, including the Iconic Crypto Queen NFT she sold in April 2021 for $1.1 million.
Artist Grimes has sold six million dollars of her unique digital artworks. Among the first celebrities to capitalize on the nonfungible tokens were Grimes and her collection of digital art, making millions from the sale of their property. Having 10 pieces in her WarNymph collection made Grimes one of the most successful NFT creators by creating a high demand for her artwork.
Lindsay Lohan, the American actress from the show “Mean Girls,” launched her own token on Rarible in February 2021; it sold for $50,000. On the decentralized social marketplace Fansforever, Lohan released “Lullaby” as an NFT. Additionally, Lohan sold an NFT of now broken up EDM duo Daft Punk for $15,000.
A supermodel and author have created her own network for distribution, “Buying Myself Back”. After artist Richard Prince created a canvas from the model’s image, which the supermodel purchased from him for $81,000, the supermodel regained control over her own image. She photographed herself in front of the canvas. The digital image sold at auction for $140,000.