Find out how major Hollywood celebrities like Paris Hilton, Snoop Dogg, Shawn Mendes embraced the NFT marketplace and capitalized on it
Listen to this article
It is no longer surprising that the latest craze to grip the world comes from the crypto space, with the popularity of non-fungible tokens, or NFTs shooting up in the last year. From celebrity tweets and videos promoting NFTs to thousands of fans, who buy the merchandise they sell, NFTs have exploded in popularity as well as price over the past year.
NFTs are blockchain-based assets that are unique due to their identifying information recorded in smart contracts. Now, celebrities have tokenized everything from music, photographs to artwork using NFTs. Here are some of the biggest Hollywood celebrities to have joined the NFT marketplace and capitalized on it.
Rapper Snoop Dogg released his NFT collection called “A Journey with the Dogg" featuring Snoop’s memories from his early years, NFT-inspired artwork, an original track called “NFT," and “Snoop Dogge Coins." The NFT drop lasted a limited 48 hours, with Snoop Dogg earning over $100,000 for just one of the pieces sold.
Queen of pop culture and entrepreneur Paris Hilton dropped her first NFT with Super Plastic, a vinyl toy and digital collectibles company backed by the likes of Google Ventures and Justin Timberlake. Hilton sold her Iconic Crypto Queen NFT in April 2021 for $1.1 million and has a collection of 141 pieces.
Musician Grimes has sold $6 million worth of her unique digital artworks. Grimes was one the first famous celebrities to have caught on to cash in on the nonfungible tokens making millions from collections of their own digital art. Her WarNymph collection of 10 pieces made Grimes one of the bestselling NFT creators who successfully managed to create high demand for her collection.
Popular American actress, the "Mean Girls" star Lindsay Lohan launched her own token on Rarible in February 2021, which reportedly sold for $50,000. Lohan released her single "Lullaby" as an NFT on the decentralized social marketplace Fansforever. Additionally, Lohan sold an NFT of now broken up EDM duo Daft Punk for $15,000.
Musician Shawn Mendes joined the NFT marketplace OpenSea and launched an NFT based on his album, ‘Wonder’ with Genies. The musician introduced digital wearables including a guitar, necklaces, vest, and earrings which were available for purchase and earned Mendes more than $600,000. Akash Nigam, CEO of Genies had shared that Shawn Mendes did around $1 million in digital-goods sales in 10 minutes.
American supermodel, author has launched her own NFT, "Buying Myself Back: A Model for Redistribution." The supermodel reclaimed her controversial photograph by gaining control over her own image after artist Richard Prince put the model's image on canvas, which she purchased from Prince for $81,000. She photographed herself in front of the canvas. The digital image file was sold for $140,000 as an NFT.
American rapper, songwriter, and record producer, Eminem launched his first set of NFTs on Nifty Gateway last year and raised $1.8 million. Among the items sold included digital action figures, characters from Eminem’s videos and original instrumental tracks.