Despite widespread skepticism since its inception, the NFT market has attracted the attention of several high-profile investors. Public interest in the NFT market has risen due to the publicity surrounding the actions of well-known figures. And early NFT users are wondering if the market’s recent surge in popularity due to celebrities is a promising sign of things to come.
Celebrities’ Impact on the Spread of NFTs
A celebrity NFT highlights the significant impact that celebrities may have on cultural norms and conventions. Non-fungible tokens have entered the mainstream thanks to the support of well-known actors, artists, athletes, and online personalities. And as they’ve bought the thing into the market, Americans are talking about digital art and NFTs around the dinner table. Most likely, they first heard about the technique through celeb NFTs.
The presence of celebrities in the NFT market serves two purposes: it normalizes the market and increases the volume of trades. For instance, after well-known people like Jimmy Fallon joined the Bored Ape Yacht Club (BAYC), sales of the collection skyrocketed. Hence, a celebrity’s purchase of a token is frequently all it takes to convince a trader to make a similar investment since the actions of celebrities have long influenced impressionable individuals. So, whether you see this dynamic as beneficial or detrimental to traders and their digital wallets, you can’t deny its impact on the evolution of the NFT market.
‘BAYC’ by Snoop Dogg
For a considerable period, a trader by the alias Cozomo de’ Medici purchased several of the market’s oldest and most notable NFTs. And Snoop had more than $17 million worth of NFTs in his collection before he released his token. His declaration that he had acquired a personal Bored Ape also generated media attention.
Many notable people, such as Eminem, Justin Bieber, and Neymar Jr., are members of the Bored Ape Yacht Club, making it arguably the most well-known NFT collection in the world. And token for Snoop Dogg is an ape with a cheetah print coat. The rapper’s Twitter announcement of the acquisition brought even more attention to the set.
X by Steve Aoki – Clone
Famed performer and record producer Steve Aoki bought a token for the Clone X collection in December 2021, helping to increase its visibility. And token #2004 in the collection set him back 13.95 ETH, or almost $42,000. The figure, which wears a weird octopus cap and a respirator mask, is both stunning and odd. So, adding a well-known musician’s name to the album should be no surprise.
Celebrity NFT has a powerful advocate in Aoki. There are around 200 tokens in his collection, including several from renowned collections like the Bored Ape Yacht Club. He has also been vocal about the positive outlook he has on NFTs. And as far as the musician is concerned, this new technology represents a game-changing advancement that will allow them to make a living in the competitive digital music industry.
VeeFriends by Logan Paul
Internet stars like Logan Paul are the best symbols of the modern day. And creators like Paul built their fortunes and public profiles solely within digital platforms, unlike the many actors, artists, and sports who have utilized online outlets to supplement their popularity. Because of this, they are excellent potential backers of celeb NFTs.
Paul has amassed over 23 million views and followers on his videos on YouTube. He has spent more than $3 million of his immense fortune on NFTs. Paul spent $290,00 (or 90 ETH) for a VeeFriends token in January 2022. He told his Twitter followers that he was inspired to do so because he saw the collection’s developer, Gary Vaynerchuk, as a pioneer and a visionary. Since then, Paul has revealed that he would release his own set of celebrity NFTs featuring tokenized polaroid renditions of the stars.
Author Name – carmela cahtillo