|crypto art||Lindsay Lohan||non-fungible tokens||Rarible|
After billionaire entrepreneur Marc Cuban and rapper Soulja Boy, now Hollywood actress Lindsay Lohan entered the NFT space. On Twitter she first expressed her passion for the decentralization of financial power, only to publish an NFT on Rarible hours later. She sold her first NFT, titled ‘Lindsay “Lightning” Lohan’ for 10 ETH, which is 17 thousand dollars, to Loopify.
“I believe in a world which is financially decentralized and the power of dreams to be the core lightning network of humans”, Lohan wrote in the asset description. She will donate the proceeds to charities that empower the younger generation to adapt and learn about blockchain technology and user empowerment.
The winning bid for the Lindsay Lohan NFT, which clearly supports the Bitcoin Lightning Network, came from Loopify. They outbid Rarible founder Alexander Salnikov, NFT collector Barthazian and DeFi-whale-turned-NFT-addict 0x_b1 amongst others. Within ten minutes after making the 10 ETH bid, Lohan had accepted it. Loopify is trying to flip the artwork, and put it back on the market for 33 ETH ($57.243). Lindsey Lohan will receive 17 percent of their sale.
Other celebrities into NFTs
One week ago Soulja Boy made headlines when he moved into crypto. It didn’t take long for him to mint his first digital artwork on Rarible. He created Crank That, which has 14 prints. Several edition have sold for 5 ETH each, while the rapper also accepted bids 0.5 and even 0.42 ETH later that week. Now Soulja Boy burned six editions of his artwork and put the two remaining ones up for sale for 8 ETH each.
Sports fanatic and billionaire entrepreneur Marc Cuban became a bit more experimental with Rarible. He started selling a GIF of himself dancing in his Dallas Mavericks jersey, which quickly sold out for 0.02 ETH each and are now listed for 33 ETH or more. However, he started selling voucher for tokenized personal video messages, which is an original thing to see on Rarible.
What are NFTs?
NFT is the abbreviation for non-fungible tokens, which are tokens that signify ownership over unique digital assets. These assets can for example be items in a game, crypto art, or digital collectibles. In addition it could also be a ticket for a cinema or perhaps a subscription for public transit. The usability of NFTs doesn’t end with gaming, it only starts there.
A non-fungible token can’t be swapped one-on-one with another non-fungible token. It represents something unique. That’s why non-fungible tokens can be based compared with rare art, an owned house or a signed mint edition of a certain comic book. These products are unique and in the same way a non-fungible token is unique as well. This gives non-fungible tokens also an unique value that only represents that one specific token.
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Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a content manager and creator at heart, working on Play to Earn and for a variety of third party magazines and websites.