Blockchain is having a revolutionary moment. Day by day, its popularity increases as mass adoption of crypto continues to spread. While the NFT market is largely dominated by the gaming industry and independent artists, much of the entertainment industry still has yet to dip its toes into this burgeoning space. While crunching one of the most loyal fan base demographics in existence, almost every age group makes up part of the entertainment industry’s enormous viewership. It’s been evident for decades that interaction with celebrities is highly sought after by fans, alongside the acquisition of genuine celebrity memorabilia. Web3 is now well into the process of commodifying these fan experiences as digital assets that live on the blockchain.
One NFT platform geared towards this specific goal is nOFTEN – an NFT marketplace catering towards established and upcoming artists with a platform facilitating NFTs that bring them closer to their most dedicated fans. nOFTEN aims to house the most exclusive collection of celebrity experiences on the blockchain. This will be a marketplace where fans and celebrities can trade, share, buy, sell and experience content and moments that are one of a kind. nOFTEN wishes to foster a new and digital way of building fan communities through a sustainable and elusive platform where artists can interact with their fans, and even offer them their most unique possessions.
A myriad of celebrities from all walks of life such as Hollywood and Bollywood actors, independent music artists, rappers, cricketing superstars, fitness experts, and stand-up comedians will join the platform as creators. Through nOFTEN’s platform, they will offer varying types of digital content for people to easily acquire. This content could be a personalised video, a new song, a chance to attend a celebrity dinner, a direct video-call, or other exclusive experiences. nOFTEN will simply serve as the medium to connect artists and fans by procuring a simple way for creators to join, and for fans to bid, buy, sell or exchange their NFTs in a community-driven space without the fear of being scammed or overcharged.
All NFTs created on nOFTEN will exist on the blockchain network Etherlite, possessing higher transaction speeds and efficient costs. These NFTs will be powered by ETL-721, with the tokens stored within the ETL-20 smart contract, ensuring the rightful ownership of the artworks remains with the creators themselves. nOFTEN will hold no ownership of any piece featuring on the platform.
Blockchain technology will ensure that the drops are genuine, as it provides an extremely reliable record of the past and current owners of a digital token. Further concepts for celebrity NFTs on nOFTEN could consist of unreleased behind the scenes movie footage, and even short films. Users on the platform will have open-access to all the listings offered by the creators, whether they are auctionables or 1-of-1 single copies of a unique offering. Buyers will be able to indulge in a bid for any asset, directly own it by buying the piece outright, or sell on their previously bought NFT.
nOFTEN is shaping up to be the comprehensive source for celebrity NFT fan experiences. As an independent platform, they are making big moves to bring about the tokenization of pop-culture memorabilia. Going forward, it will be interesting to see the unique ways in which platforms such as this one will tap into a space with such huge unmet potential.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2022/03/discover-the-new-haven-for-celebrity-nfts