NFT for followers was launched by pop star Katy Perry

Written by Anna Komashko
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Despite bitcoin being an incredibly volatile asset, numerous crypto investors already managed to make their fortunes with it, drawing attention to the crypto world. As cryptocurrencies grow both in price and the number of hi-tech features, more and more celebrities, influencers, and entrepreneurs are willing to join the fun.

Famous pop singer Katy Perry is about to cash in with cryptocurrency. World renown pop star recently announced the launch of numerous NFTs in partnership with Theta Labs, a video streaming service hinged on blockchain technology. 

Katy is planning to launch digital collectibles which will include her fan-awaited musical residency taking place in late 2021 in Las Vegas. She is going to get a minority interest in Theta Labs as well with her artist agency, Creative Artists Agency (CAA).

Perry considers the launch of her own very first NFT through Theta Blockchain a unique opportunity to share something with her fans, who are not attending the upcoming Vegas event, as a pop star stated in an interview. These digital collectibles are going to be a memorable addition to an exciting experience of the show itself.

What is NFT?

NFT stands for a non-fungible token and is very popular in the entertainment and art sectors. These digital assets are backed by the same blockchain technology as any kind of cryptocurrency. The term “non-fungible” in simple wording means that the token is unique, and can’t be completely replaced by the other one, while other crypto tokens, like BTC, hold no difference between any given coins and are eventually substitutable. 

At the highest level, an NFT is most likely based on the Ethereum Blockchain (though, any other Blockchain can eventually implement the support of NFT, just like Theta Network did). It stores additional information, which makes NFT operate differently from the crypto coin, like Ethereum itself. This unique metadata can be used to, for example, prove the fact of ownership over a piece of digital art: an image, video, audio file, etc. 

This is not the first instance of celebrities going on an NFT craze. In April 2021 actress Lindsay Logan sold her electronic music with NFT for 1,000,001 TRX/Tron cryptocurrency (worth around $85000 at the time). Rapper Jay-Z celebrated the 25th anniversary of his debut album, Reasonable Doubt, by auctioning an NFT, inspired by the album cover, with Sotheby’s.

Perry is one of the most popular pop stars in recent years, managing to achieve 5 prestigious American Music Awards and at least one British Award with numerous number-one singles on the Hot 100 chart of the Billboard.

Theta Labs is a decentralized video delivery network, well known for its own blockchain, Theta Network. In the past time, Theta Labs already made collaborations with celebrities on various projects. For example, they organized a Livestream of the launch of a SpaceX rocket — one of Elon Musk’s numerous endeavors.

Mitch Liu, Theta Labs’s SEO, sees this collaboration with a pop star this big as a great opportunity to expand the company’s reach, as well as to popularise both cryptocurrency and NFT among the regular art fans all over the globe. 

Crypto Currencies are no longer exotics these days: with often featured stories about traders and miners, who made their fortunes in a few years just by investment earnings from bitcoin and other tokens, more and more people show interest in given digital assets.

Growth both in variety and new cutting edge tech features of the Cryptocurrency world attracts celebrities and regular folk alike. Every given day brings up new exciting investment opportunities, even for beginners.  And more and more retailers all over the world even start accepting payment in cryptocurrency in addition to regular methods, so celebrities’ opinion on the importance of crypto will only be proven right in the nearest future.

NFT – what is it and how can I earn with its help?

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