If RTFKT can sell digital clothing and a cigar company can sell a digital render, why can’t all…
May 5, 2021
Later today, Eminem is doing a fifteen minute drop on Nifty Gateway. The event, titled “Shady Con”, will include exclusive and original works by the popular rap artist. On the digital front there will be original songs, digital art work, and a set of action figures. As for physical products there will be a paid of shoes (EMINEM X CARHARTT JORDAN 4’s), a signed “film strip shadow box”, and a rare signed vinyl print of the rapper’s “Infinite” album. While the drop is occurring as both the NFT market and crypto market has been facing headwinds, there will likely still be significant demand for Eminem’s NFTs. It’s clear that the rapper invested in a create drop especially given the inclusion of physical goods. If you’re interested in accessing the drop at 6:30pm ET, you can do so at Nifty Gateway.
April 25, 2021
Last week I wrote about fake cigars that you can’t smoke and now there are wines you can’t drink. If you have particularly refined taste in pixel art for which you can’t perceive the fine details then there is even a $300,000 of “wine” for sale. Surprisingly, people are actually picking up some of this BitWine with an average price of $151. The company has also generated over $52,000 in sales which is frankly ludicrous. It’s not clear who these collectors are but let me just say that if I were to choose between a $300,000 Cryptopunk and a $300,000 bottle of virtual wine, I wouldn’t pick the wine. The sheer volume of money flooding the NFT market as of late has many speculating that we are in the midst of a bubble. I don’t think there are many who will debate that. For now, there are no indicators that this bubble is on the verge of popping. As long as there are people willing to spend thousands on wine that doesn’t exist, the bubble will continue to rage on!
April 14, 2021
Most public figures would distance themselves from a fraudulent business but not Ja Rule. On March 26th I posted about Ja Rule promoting a digital poster from Fyre festival. He's back for more, this time with a tweet for sale. The tweet, which is the infamous photo of an awful meal provided by the organizers during the fiasco, is being sold with a target price of $80,000. So far the bidding has jumped to a massive $0. That said given the greater fool theory, there may just be somebody who finds it worthwhile to bid on this garbage. It's honestly kind of ridiculous that Ja Rule's entire brand primarily revolves around a fraudulent business. He could create music but it seems like he has completely given up on that career. Anywho, if you are interested in bidding on this, you can view it on OpenSea.
April 9, 2021
Who needs an individual NFT project when you can have an entire NFT platform? That's the ambition of Tom Brady who is looking to release Autograph later this year. It sounds like the goal here is to siphon off celebrities from some of the more popular platforms like Nifty Gateway and Open Sea. While it may be an uphill battle, the company has come with an all star roster of advisors and leaders. Those leaders included execs from Lionsgate, Cameo, Spotify, Live Nation, and DraftKings. All of these companies have signficant potential within the NFT space moving forward which is just one of the reasons this news is notable. For the moment, this is nothing more than an announcement and it will be interesting to how this actually materializes. This will not be the last celebrity team to come out with an announcement about their upcoming NFT marketplace.
Five years since the artist's last album, M.I.A. is back in the headlines with the release of a number of NFTs. In contrast to other celebrities, who are partnering with artists and companies to produce their pieces, M.I.A. has created the art herself. If you're interested in acquiring the pieces, they will be going live via auction later today on Foundation. The auction will run for 24 hours beginning at 4 p.m. Eastern. Outside of the fact that M.I.A. produced the pieces, there's nothing particularly notable about them. The two being listed today are short snippets of M.I.A. dancing for the camera. The resolution of the images make them appear as though they were shot with a VHS camcorder if not utilizing a filter.
Collectible companies of yesteryear, like Topps, are racing to capitalize on the NFT craze. In the latest sign of the times, Topps has announced their intention to go public via a SPAC which values the company at $1.3 billion. Recently, Topps has been experimenting with a number of NFT projects all powered by the Wax blockchain. The most recent projects have included Garabage Pail Kids and a series of Godzilla cards. Despite being an older company, they continue to increase revenue with sales jumping 23 percent in 2020 to $567 million. Thanks to the transition to digital Topps has been blessed with a second wind. Digital now accounts for 25% of the companies revenue and according to Michael Eisner that number is rising quickly. While we're definitely experiencing NFT over-saturation, collectible companies like Topps are perfectly positioned in this emerging market.