Why are NFTs Gaining Popularity Among Celebrities?

The concept of trading crypto art through non-fungible tokens would seem absurd a couple of years ago. However, with the rapid development of the digital world, people are heavily investing in intelligent contracts and blockchain development services to shape their futures.

NFT creation and development services have become very popular in the past two years. The Tech industry finds NFTs a great way to own digital artwork, whereas the non-tech world finds the NFTs a good investment tool. 

What is NFT

NFT is a short form for Non-fungible token. “Non-fungible” means that it’s unique and cannot be replaced with something else. For example, a bitcoin is a fungible or replaceable token. You can trade one bitcoin for another, and you’ll have precisely the same thing. But a token with a unique art form or contract is not replaceable, and therefore it is non-fungible. 

Where is NFT Used?

NFT is now quite prominent in collectibles, artwork, and games. These tokens can also be used to ensure the historical record of ownership for luxury items. They can be sold, bought, and traded in marketplaces like OpenSea and MagicEden.

With the popularity of NFTs, people are paying thousands of dollars for creating their own NFT. Also, celebrities have increased the hype by launching their own NFTs. Businesses and individuals hire qualified blockchain developers or companies to create their own NFT platform.

NFTs are Gaining Popularity Among Celebrities 

People are launching digital souvenirs using non-fungible tokens in the entertainment and sports industry. The technology invented from blockchain development services is now a great medium to capitalize their fund and earn huge money through this growing trend.

For proving the ownership of digital work, NFTs are very much liked by celebrities such as Snoop Dog, Lindsay Lohan, & Eminem. Also, many corporate giants like Ant Group, JD.com, and Nvidia have entered the NFT market with a bang.

NFT is a growing trend among many industries, including the media and sports industry. These tokens are auctioned over different marketplaces. Investors find NFT an excellent option for earning money and making a long-term profit when looking at the growing market.

However, the cost of developing an NFTs is the central question today. It mostly depends on your precise requirements. Feel free to Request A Quote from Permutrade, and we will get back to you with exact estimation of time and cost.

Celebs Who Joined the NFT Bandwagon

NFTs not only have grabbed the attention of ordinary people, but it has succeeded in even convincing celebrities to adopt them. Below are the celebrities who joined the NFT Bandwagon.

  1. Snoop Dogg

Snoop Dogg announced in late March 2021 his first NFT collection titled “A Journey with the Dogg,” which is the culmination of the rapper’s early memories connected with the medium of NFTs. With eight pieces available in limited quantities, including the original track “NFT,” “Snoop Doge Coins,” “Diamond Joint,” and “Deez Nuts,” the famous rapper stated that his art is a look into the life of a “young Snoop.” 

Commenting on the rise of crypto art, Snoop Dogg has stated that he has seen modern technology progress from analog to digital throughout his decade-spanning career. He is eager to explore the new digital sphere and connect with his fans. The globally recognized innovator and entrepreneur also stated that he was excited about the concept and believes that the technology will change the way artists do business. The drop lasted a limited 48 hours, with Snoop Dogg earning over $100,000 for just one of the pieces sold. 

  1. DJ Steve Aoki

A music programmer, record producer, and Grammy-nominated DJ Steve Aoki joined the NFT movement with the artist Maciej Kuciara. The latest NFT “Neon Future by Steve Aoki x Maciej Kuciara” has provided the NFT market more traction. Aoki gave five new tracks and gave hope for the NFT to guide the future of the music industry with the help of collectible assets and experiences in digital wallets. Aoki also partnered with renowned motivational guru Tom Bileus for launching the NFT set “Neon Future.”

  1. Shawn Mendes

After the significant success of the Mesut Ozil line with sales of more than $500k, Shawn Mendes teamed with him to sell unique wearables on OpenSea, the NFT marketplace. Shawn Mendes made more than $600k with the sale of NFTs, which he donated to the foundation supporting youngsters with innovative ideas.

  1. Eminem

Popular rapper Eminem shared “Shady Con,” the NFT collection, which became very successful. The track containing original instrument beats was released just before the limited edition festival. Eminem seems grateful to the collectible market for presenting him a chance to recreate his collection assets.

  1. Lindsay Lohan 

Lindsay Lohan has lauded NFTs for their ability to facilitate better copyright claims for artists and creators on their works. She has released her first single in a year called “Lullaby.” It was Lohan’s exclusive collaboration with DJ Manual Riva. They’ve officially sold their newest song titled ‘Lullaby’ for $85K. Lohan has also sold an NFT of broken-up EDM duo Daft Punk for $15k. She predicts that crypto, NFTs, and blockchain technology will become the new norm in the entertainment industry.

  1. Paris Hilton

Paris Hilton has launched her NFTs in collaboration with designer Blake Kathryn. ‘Hummingbird in my metaverse’ and ‘Legend of love’ both had 11 editions available for purchase, whereas the ‘Iconic Crypto Queen’ NFT only had one edition available, which got sold for over one million.

  1. Tony Hawk

The retired skateboarder has teamed up with platform Ethernity Chain to create an NFT of one of his iconic moments. He’ll be offering a video of the last time he performed a 540-degree ollie trick on a halfpipe. Since he’s retired as a professional skateboarder, he’ll dedicate less time to skating and more time growing his video game franchise and other ventures.