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.
Over the weekend news broke that Parker Todd Brooks is leaving Apple Music to join Ledger, the largest player in the crypto hardware wallet space. This is just another sign that the world of NFTs is something worthy of corporate interest. It also furthers my thesis that the tidal wave currently impacting NFTs will further transition toward a tsunami. Brooks' new title will be "Vice President of NFTs", a title that may very well be a first. His goal is to create products that cater to creators. Considering his background in music, I wouldn't be suprised to see some activity in the music space. To be fair he even stated as much: "I’ve spent my career serving the artist community. With NFTs there is an opportunity to reimagine how art and music are created, sampled, and managed while simultaneously addressing the security issues in storing NFTs on internet-connected devices." This leaves me wondering: are we going back to the world of iPods?!
United Cigars determined it a smart decision to sell a concept of a cigar as an NFT. Available…