Of all the questions you can ask Madonna, her thoughts on NFT artwork BAYC #3756 aren’t the first ones that come to mind.But it’s just variety The magazine did during an interview with the American pop star back in July. Madonna is the latest celebrity to jump on the NFT bandwagon. NFTs, or non-fungible tokens, are unique digital images It is recorded on the blockchain that proves ownership.these are virtual drawing They usually belong to collections that have a common aesthetic, like trading cards. And they are very expensive. One of his most popular NFT collections, the Bored Apes Yacht Club (BAYC) image can cost hundreds of thousands of dollars.Even Madonna Missed Buying BAYC Because They’re So Exclusive #3756.
“I was so angry because I didn’t get what I wanted.” she said variety“If anything comes to mind, that’s what I have. I quickly learned that it’s not the same as wanting a monkey.”
For some time, celebrities have worked hard to promote NFTs. Recent collaborations with Eminem include featuring them in music videos.their song video From The D2 The LBC, the rapper appears as two purchased BAYC characters. They also appeared as digital avatars at the 2022 MTV Awards.
It all comes down to money, according to Andrés Guadamuz, an NFT expert at the University of Sussex. “The goal is to generate his FOMO. [fear of missing out] In the meantime, we will increase the price of NFTs,” he explains in an email. NFT prices are highly volatile and Popularity of the image in questionSo when celebrities show off their NFTs, they can increase the value of not only the particular image they own, but the entire collection that image belongs to. So it’s a product placement.
At the end of 2021, the crypto asset market (including cryptocurrencies such as NFTs and Bitcoin) has reached its peak. But it wasn’t mainstream yet. Ordinary people were not buying NFTs.such a time Actor Matt Damon Start promoting crypto market for digital investment platform crypto dot comDozens of other celebrities have started dropping references to NFTs and cryptocurrencies in interviews. The idea was to normalize it and encourage fans to invest.
Last January, Academy Award-winning actress Gwyneth Paltrow changed her profile picture to her BAYC avatar. A month later she changed it to her NFT from the Flower Girls collection. And after 30 days she traded in another one from the WoWGalaxy collection. Meanwhile, singer Jason Derulo not only changed his profile picture to NFTs from the CryptoPunks collection, but he also talks about how he invests in the market on crypto website Discord. John Legend, Steve Aoki, Kings of・Other musicians such as Leon have also decided to release. My NFT collection.
But perhaps the worst example of shameless advertising was an interview with host Jimmy Fallon and heiress Paris Hilton. The Tonight Show. During the interview, Fallon and Hilton showed images of the BAYC artwork they purchased and talked more about digital apes. “I love the red heart sunglasses. I love the captain hat,” Hilton said of Fallon’s NFT.The awkwardness of the moment was masked by canned laughter, but the interview was bombarded the next day by the media. Asked magazine polygon.
“The answer is money,” says Guadamuz. “There are a number of venture capital funds that have invested heavily in NFTs.” Among all these funds, Horowitz stands out. This Silicon Valley venture his capital firm played a leading role in the early days of the Internet.and now it’s the world’s largest crypto investor.
“Horowitz seems to have connections with several Hollywood talent agencies and buy NFTs for their clients as part of their promotional packages,” Guadamuz said. “Yuga Lab” [the company that created the BAYC] It’s among them who have received the most money from these funds,” he adds. Justin Bieber, Jimmy Fallon, Snoop Dogg, Eminem, Gwyneth Paltrow, Madonna, Neymar, Paris Hilton , Timbaland, Ellen DeGeneres, and Steve Aoki all have monkey-like NFTs, which explains why. And why don’t they stop talking about it?