NFTs are gaining popularity in the worlds of fashion, music and arts. Here’s what was happening on that front in February 2022.
Kings of Leon to Release First-Ever NFT Album
KINGS OF LEON have announced that they are releasing their new album, titled When You See Yourself, as a non-fungible token (NFT) for sale throughout the world on Friday – making it the first band in history to do so.
As part of a project called “NFT Yourself,” the band is dropping three types of tokens. An album package is one type, live show perks, such as front-row seats for life, and an audiovisual art package is another type. All three token types feature designs from Night After Night, the band’s longtime creative partner, and the smart contracts and intelligence within the tokens by YellowHeart, a company using blockchain technology to give music a new life and connect artists directly with their fans.
In a nutshell, NFTs are a digital currency that can hold possessions like art, concert tickets, and music instead of holding money. Blockchain enables NFTs to operate because it is a publicly accessible and transparent network – it means that anyone can see the transactions associated with any NFT. Due to its multiheaded nature, the network, as a multiheaded hydra, keeps updating and can’t be hacked. Because NFTs are subjective, their value fluctuates, similar to stocks. (To learn more about crypto in music, read Rolling Stone’s guide.)
D.J.s and producers used to follow NFTs. Nevertheless, digital tokens have become popular in the concerts era of the pandemic as musicians seek alternative revenue streams. Take Portugal, for example. In recent weeks, links such as The Man, Shawn Mendes, and Mike Shinoda from Linkin Park joined the project.
There will be no special perks to the standard version available on YellowHeart. Kings of Leon’s album will be available everywhere music is released – Spotify, iTunes, Apple Music, Amazon. In addition to the digital download and limited edition vinyl, the $50 token includes enhanced media, such as what looks like an alternative album cover. NFTs go on sale this Friday at noon E.T. NFTs goes on sale for two weeks. The NFT will cease to be manufactured after that point and become a collectible.
The YellowHeart Kings of Leon NFT release will include 18 unique-looking golden tickets. “Each NFT has the most incredible Kings of Leon art you have ever seen,” explains Katz. Of the 18, the band will auction six and vault the other 12.
This week, Kings of Leon are launching the largest project yet to use NFTs as crypto bursts into the music industry. In the press release, Kings of Leon’s team explained that the band wanted to “deconstruct, degenerate, and distort iconic band symbols and photography.” This has resulted in a surprising reimagining of the band’s oeuvre. Matthew Followill and [Kings of Leon creative director and Night After Night CCO] Casey McGrath took all source photographs.”
Akon to Release All Future Music as NFTs
Akon is an extraordinary individual who is not new to the wider crypto movement, and he exhibits a vivid imagination and grand ambition. His latest interview with Esquire revealed that he would be releasing all future music he makes as NFTs in the future.
The enigmatic star stopped by to catch up with reporters after his keynote appearance at the “Proof of Fusion” event in Dubai, where he represented NFTs and blockchain technology. The new technology, as Akon explains, will allow artists to ensure they are receiving a fair percentage of the proceeds from their work, while also providing full transparency over the distribution and playback of the work.
As a result, Akon has decided to use the medium for all future recordings, including the upcoming album, as mentioned during the interview. By adopting this new technology, he will be able to create more creative material in a more controllable manner than what he has been able to do in the past.
According to him, his next album will be an NFT album, which means he will be able to monetize it the moment the album drops on every single platform that exists.
It is no secret that the star is a staunch proponent of blockchain technology and is also associated with the $100k coin, aka “AKOIN.” A bespoke cryptocurrency developed to tokenize and recognize the talent and resources of the African people and contribute to the development of Akon City, a futuristic metropolis located on the coast of Senegal.
GAP Launches a Gamified NFT Collection of Hoodies
A new collection of NFT apparel has just been launched by fashion giant Gap, becoming the latest brand to venture into the NFT market. The collection was created in partnership with the NFT platform InterPop and will run on the energy-efficient Tezos blockchain to align with the company’s eco-friendly values.
As part of the collection of NFTs, Gap x Frank Ape hoodies are available as physical, collectible merchandise, including digital art from the artist behind Frank Ape, Brandon Sines. Unfortunately, it will not be easy for customers to purchase most of the NFTs in this collection using a simple sale. Instead, they will need to navigate through four gamified and unlockable levels before the NFTs will become available to them.
There are four levels: ‘Common,’ ‘Rare,’ ‘Epic,’ and ‘One of a Kind.’ The ‘Common’ NFTs became available to purchase on the Gap NFT website beginning Monday, January 13, for 2 XTZ each (around $9). They will be making available other NFTs from higher levels over the next few weeks.
As far limited availability is concerned, NFTs at the highest levels will be more scarce which implies that those locations will be distributed on a first come, first served basis once the NFTs have been released. In addition, there are limits on NFTs at the ‘Rare’ and ‘Epic’ levels.
Gap has decided to cater to NFTs through their platform, following in the footsteps of other major fashion brands who have carved their way into this space in recent times, such as Burberry launching a collection in collaboration with blockchain game Blankos Block Party in August, closely followed by Dolce & Gabbana’s Collezione Genesi launch in September.
Adidas and Prada Announce NFT Cooperation
Adidas Originals and Prada will feature user-generated artwork in their non fungible token (NFT) in a first-of-its-kind collaboration. Large-scale digital artwork is being created by bringing together participants from the fashion, design, and crypto industries. NFTs are unique assets that represent ownership of real-world items, such as art, video clips, music, and more in digital form. They use blockchain technology to operate, but they aren’t currencies.
The open-metaverse NFT project will invite Adidas and Prada to collect anonymous, unique photos from their audiences. The company noted that Nike would take at least 3,000 community-sourced artworks and make them into NFTs, assembled in a single patchwork NFT designed by Zach Lieberman.
All participants will be allowed to participate free of charge, and all contributors will be able to keep full ownership rights over their individual NFT tiles. In addition, Nike and Prada will auction Lieberman’s final NFT on SuperRare, a marketplace for curated NFT artworks, which is a marketplace for curated NFT artworks.
Sotheby to Use an NFT Version of Picasso Painting For Auction
A new technique developed by the auction house Sotheby’s will encrypt digital versions of physical art pieces to link them to their digital counterparts. On June 29, a Picasso painting will be put up for auction, which is the first time the technology will be used.
Tieing non-fungible tokens (NFT) to physical assets is not new. However, several use cases involving NFTs do not use the term. LVMH, for instance, uses NFTs to verify the authenticity of luxury items. In a patent filed with the U.S. Patent and Trademark Office, Nike plans to design blockchain-based sneakers called CyptoKicks to enable digital assets to be tied to each pair of sneakers. An NFT based on an Andy Warhol piece of art is being sold by APENFT, started by TRON blockchain founder Justin Sun.
Increasingly, most people now associate NFTs with collectibles, such as video memories, digital art, or music. The digital assets in Sotheby’s initiative are not independent, as they are in these NFTs. As a digital twin, the content acts as a token tightly connected to a physical item to be tracked and controlled digitally.
Mira Imaging will provide the scanning technology that captures the “genetic code” of the artwork to provide the “genetic code.” With that data, Mira can mint an NFT, a replica of the original artwork. This NFT, once reproduced, can be compared with the original artwork at any time. It is possible to mint only one NFT per artwork.
Mira Imaging will be making its debut with this project. First, to scan a work of art using the proprietary Looking Glass scanner technology, the startup uses a proprietary array microscope, artificial intelligence, and robotics to scan its surface in a manner that isn’t more invasive than taking a picture. Then, to add an NFT to the Ethereum blockchain, the system uses an encrypted signature created by the system.
There is a hypothetical outcome that the NFT could be further tokenized to become the property of several individuals. Creating this kind of environment will make unaffordable artworks more accessible, making the art industry much more inclusive. The one thing standing between fractionalized NFTs and other types of assets in the United States is that fractionalized NFTs are considered securities.
In the meantime, digital artist Beeple has launched a marketplace on the NFT website called ‘Iconic Moments.’ In 2007 Beeple, one of the pioneers of digital art made the first piece of digital art to be sold at Christie’s for $69 million. Besides Andy Warhol’s NFTs, Christie’s also auctioned some of his works in the form of paintings. Regarding Sotheby’s, the auction house had previously sold the digital art of PAK as non-functional tokens.
Nas Gives Fans Publishing Rights to His Songs Via NFTs
With Nas’ recently announced partnership with blockchain platform Royal, the artist will offer 50 percent of the streaming rights as new currency tokens on two of his songs.
An announcement issued on Jan. 11 indicated there would be a limited number of tokens available, the possession of one of which would provide the holder with a portion of the publishing rights for “Ultra Black” and “Rare” from King’s Disease and King’s Disease II, respectively.
His goal was to always connect with the people in unique and innovative ways, and this partnership was just what he was looking for. Blau went on to say, “I’m thrilled to be collaborating with Royal and Nas to make my music available to the world in a new way.” “Nas’ decision is an affirmation of our mission,” said Royal’s co-founder and CEO Justin ‘3LAU’ Blau. “It shows that artists with diverse musical styles share a common vision of democratizing ownership of music and have a desire to relate to their fans on a deeper level.”
Three of 3LAU’s fellow electronic artists, Disclosure and Kygo, are also involved in Royal’s investment, and hip-hop artists Joyner Lucas and Logic and Stefflon Don are also part of Royal’s investor group.
As part of the news today (January 6), Nas also announced that he would be performing a special concert with the Los Angeles Philharmonic Orchestra later this year. Additionally, earlier today, it was announced that the rap icon would be taking part in the winter/spring schedule of the Walt Disney Concert Hall, which is located in Los Angeles.
Nas will make his way to the concert hall on May 1 for a show that will include the complete performance of his seminal album Illmatic. The rapper has already given the album the orchestral treatment before – in 2014, and he performed the full album in concert with the National Symphony Orchestra before it was released.
On Christmas Eve, Nas released a surprise new album produced entirely by Hit-Boy called “Magic,” a surprise new album. Having previously teamed up with the producer on King’s Disease and King’s Disease II, his third record collaborates with him.
Barbie and Balmain Team Up For NFT Fashion Collection
Barbie is now part of the digital metaverse in this unique collaboration created in collaboration with Mattel Creations. Barbie has stepped into the digital metaverse of NFTs, and Mattel Creations is doing great things in the virtual space. The Barbie team shared a press release with ESSENCE that they have teamed with Balmain to offer Barbie fans a ready-to-wear fashion, accessories, and game collection, in addition to some fun digital artwork, as part of their partnership with Balmain.
Combining their talents, Barbie and Balmain will release three one-of-a-kind NFTs designed to be used with unique Barbie and Ken avatars, a twist on the classic childhood toy. In addition to the complete look of each avatar, a set of Barbie-sized Balmain pieces will be included to create both a digital and physical collection of all Balmain styles. In a press release, Mattel Creations announced that the online auction would run through mintNFT, which will “[assure] shoppers a unique place in fashion history” as the auction moves into the virtual realm. The Barbie x Balmain NFTs will only be available through Mattel Creations.
Gucci Announces SuperGucci NFTs for February
Gucci, the luxury fashion brand from Italy, has recently announced its entry into the world of Web 3 with the launch of a drop of 10 non-fungible tokens (NFTs) scheduled for the first week of February.
The NFTs have been designed in collaboration with the cult toy brand Superplastic with Alessandro Michele, the designer at Gucci, working alongside him on the design. As part of the prize, each NFT winner will be given a ceramic sculpture handmade in Italy and designed jointly by Gucci and Gucci. This will be the first time Gucci has participated in an NFT event.
Superplastic makes artistic vinyl toys for the collectibles market and has issued NFTs through Nifty Gateway, which the Winklevoss brothers own. In 2018 Kidrobot founder Paul Budnitz introduced Superplastic. Since then, the brand has emerged in thousands of stores selling designer toys and clothing with characters such as Janky & Guggimon, Dayzee & Staxx, Kranky, and ShüDog.
It was revealed on Friday that Gucci would launch a Discord channel to have open conversations with the community about what the metaverse will look like in the future and the roadmap for the metaverse project.