Genies will sell one-of-a-kind digital goods for Shawn Mendes
Genies plans to sell some one-of-a-kind digital goods for musician Shawn Mendes. It comes on the heels of Genies‘ sold-out sale of digital wearables for soccer star Mesut Ozil for $500,000.
The goods can be authenticated as unique using nonfungible tokens, or NFTs, which use blockchain (the transparent and secure digital ledger) to uniquely identify items. NFT-based collectibles can be verified as one-of-a-kind items, and that means they can be auctioned off as rare items.
Fans can in turn sell their collectibles to others, turning the NFTs into a kind of investment. If you can’t afford to buy the whole thing, you could buy a piece of it, as you can get fractional ownership of a digital item.
NFTs are spreading in games, art, and other collectibles. The New York Times wrote a story this week about an artist named Chris Torres, who sold the Nyan Cat (that’s the flying kitty in the shape of a Pop-Tart) for $580,000. Since the token can be verified, the buyers will know whether the art is a fake or if it’s real. CryptoKitties maker Dapper Labs is reportedly in the midst of raising $250 million at a $2 billion valuation, and the company’s NBA Top Shot collectibles have hit more than $123 million in sales.
See the full story here; https://venturebeat.com/2021/02/25/genies-will-sell-one-of-a-kind-digital-goods-for-shawn-mendes/
