Celebrity NFTs – What Do They Actually Achieve?

More and more celebrities are joining in on buying and creating NFTs. But where can you actually buy a celebrity NFT? And what does it achieve? During your morning social media scroll, you may have noticed, among all the selfies and vacation photos, the messages from celebrities endorsing NFTs. NFTs are assets on the blockchain that are unique thanks to their identifying information recorded in smart contracts. Creators may tokenize anything from music and photographs to videos or illustrations using NFTs. Most of the discord surrounding NFTs goes down on Twitter since the platform supports NFTs being used as profile pictures in hexagonal frames instead of the typical circle frames everyone else has to use. As the hype grows, celebrities like Paris Hilton, Justin Bieber, and Gwyneth Paltrow have joined the bandwagon. If you have the rare privilege of owning a Bored Ape Yacht Club NFT, you know you get exclusive access to communities and digital rooms where your favorite celebrity hangs out and talks to fans. But it’s not just about buying the latest ape from the Bored Ape Yacht Club or nabbing the latest XCOPY artwork. Celebrities are now creating their very own NFT pieces; Snoop Dogg, for example, has his collection up on OpenSea, and Paris Hilton has teamed up with Superplastic to curate the “Past Lives, New Beginnings” collection. Canadian musician, Grimes, has sold $6 million worth of digital artworks owing to the fact tha...