The Weeknd is the latest celebrity who’s going to launch their own collection of NFTs. The American singer is working together with Strangeloop Studios to launch NFTs combining unreleased music and limited edition art. They will launch their collectible NFTs on Nifty Gateway on Saturday at 2PM EST or 7PM UTC.
Abel Tesfaye, the real name behind the performer The Weeknd, will sell eight different NFTs on Nifty Gateway. Each of these will only be available for 15 minutes. The pricing isn’t known yet.
The Weeknd isn’t doing this alone. He’s working with one of the biggest visual design companies in the entertainment industry. Strangeloop Studios have been active in the NFT space for a bit longer. They have also been working with a variety of artists over the years, ranging from Faithless to Billie Eilish and Kendrick Lamar. They’ve also done the visual of The Weekend at Coachella and at the Game Awards.
Celebs aping into NFTs
In the DeFi space many people ape into new projects in order to grab the highest yield possible. It doesn’t matter if they are at risk of being rug pulled. That being said, the current situation in the NFT space is somewhat similar. Every celebrity is taking their chance with a nice digital artwork or collectible, hoping to rake in thousand of dollars in the process. NFT are so hot right now, everybody needs one. 😎
There’s has been lots of interest from the dj scene, as Carl Cox, Sam Feldt, Deadmau5, Steve Aoki, Diplo, 3LAU and many others released one or more NFT artworks. At the same time Kings of Leon dropped their album as an NFT, while Lindsay Lohan and Soulja Boy made some art as well. This weekend Snoop Dogg is dropping an NFT on Crypto.com, and then there’s the news that Paris Hilton will drop more NFT art. Right now we didn’t even mention all the basketball, football and baseball stars that are moving into NFTs.
What is NFT art?
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 art, it only starts there. Just like physical art, there can be unlimited copies. But ultimately there can only be one Mona Lisa.
Mostly we value art for its aesthetics and cultural relevance, but above all on the ability to verify the creator and its proven rarity. With blockchain technology these last two features are part of the blockchain. Everybody can see and confirm who minted these original creations.
The concept of seeing a digital image as art, is one thing. However, for many people it will be a challenge to consider digital images as valuable. Consider this: The Mona Lisa is worth many millions of dollars. If I would paint the Mona Lisa in an exact copy, it would be worth only 50 dollars. Because we all know where the original version is.
Being able to verify the authenticity and rarity of a piece of art is crucial. In the end everything can be art. It doesn’t matter whether it’s a still image, moving image, video, music or a combination of everything.
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