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Katy Perry readies NFTs


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Fans buy NFTs through crypto-currency - online money that includes a record of who owns what, stored on a shared ledger known as the blockchain. The advantage for the artist is that they set the terms and can embed "smart contracts" that ensure a slice of any resale value.

Here comes the even stranger part: although each NFT sold is supposed to be one of a kind, its contents can still be shared, copied and sold to anyone further down the line. This means the NFT's value is defined in part by its scarcity - the lower the number, the higher the value, with the original copy often the most prized.

 

Anyone can own a print of the Mona Lisa, for example, but only one person can own the original hanging in the Louvre, even if it is seen by millions of people.

If the concept may seem odd right now, the financial bottom line is clear: there's potentially a lot of money to be made.

Grimes sold almost $6m (£4.2m) in NFTs in just 20 minutes; Steve Aoki sold a collection for about $4.25m (£3m); and Kings of Leon sold a batch for roughly $2m (£1,4m). 3LAU, an early crypto adopter, dwarfed all these by selling his NFT collection for $11.6m (£8.2m).

But can NFTs really work for all musicians and fans in a safe and sustainable way, or is it a hype bubble set to burst? Here we look at some of the main points.

 

It's hard to understand right now, but basically it's all about virtual tokens for buying 'art' in general.

"A URL basically. 

When people buy an NFT they're not even buying the digital asset (Song, picture, model) You're buying a link to the "original". All the copyright still remains with the uploader.

A lot of it is just money laundering and crypto-bros trying to make a quick buck. A lot of celebs also hopped on the NFT train for money.

I will say though, I give her credit for choosing a coin that's got less of an environmental impact but still NFTs have a long way to go before I could get behind them." - from gagadaily forum, user RahrahWitch

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NFT and people who buy them are so dumb. Or they've got way too much extra money.

Also, Exhale users who constantly hate on Katy should be ashamed. Our queen Britney has been trashed for years and here you are all sh/tting on another person like it's a pastime. You've learned nothing. Now STFU.

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On 6/30/2021 at 11:03 AM, bitbitboi said:

NFT and people who buy them are so dumb. Or they've got way too much extra money.

Also, Exhale users who constantly hate on Katy should be ashamed. Our queen Britney has been trashed for years and here you are all sh/tting on another person like it's a pastime. You've learned nothing. Now STFU.

You do realize Katy Perry bashed Britney over and over regarding her mental illness right? Don’t you dare come for Britney’s fan base for rightfully being disgusted with this has-been one time wonder bish. I don’t think anyone has forgiven her for what she said. It was appalling. 

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On 6/30/2021 at 10:28 AM, maki93 said:

What's an NFT ? :cheese_Britney_awkward_cringe_eek:

 

On 6/30/2021 at 10:37 AM, Isla said:

I still cannot understand what a NFT is meant to be.

 

On 6/30/2021 at 11:41 AM, SlayOut said:

Honestly same! :byetina_xtina_Christina_aguilera_pink_leave_bye_walk_leave_carpet_cheetah_hat:

 

On 6/30/2021 at 12:00 PM, Stefani said:

For a second there I thought NFT stood for nuclear fusion torpedo and I assumed that she was threatening to launch a nuke. Poor Katy's been so traumatized by flopping that she's about to blow up Billboard HQ. :canthandleit_cry_katy_sob_sad_tears:

I thought NFT meant “Not ****in’ Tryin’” because she hasn’t tried to mention and show support for #FreeBritney yet.  :katyclown_makeup_mess_pie_meme_smile:

Spoiler

I’m going to feel like an A $$ if she does come out and say something.  Checking Exhale like…Bored Katy Perry GIF by 2020 MTV Video Music Awards

 

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17 minutes ago, MmmBop said:

You do realize Katy Perry bashed Britney over and over regarding her mental illness right? Don’t you dare come for Britney’s fan base for rightfully being disgusted with this has-been one time wonder bish. I don’t think anyone has forgiven her for what she said. It was appalling. 

I've forgiven her, I know she's better than that.

We all need second chances.

PS: It's different with, say, Justin Timberlake. He keeps messing up. He just doesn't get it.

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Yeah, NFT’s are very speculative at the moment with people buying trying to make money to sell on to someone else at a higher price... and indeed many seem primarily to be a cash grab.

However in my opinion NFT’s will at some point be mainstream something millions of us have / use.

NFT’s don’t have to only be a ‘collectable’ for example in the future when people buy digital gaming assets (fortnite, world of warcraft etc) like skins or weapons or mounts these assets will be nfts that the buyer actually has ownership of and can trade, sell, lend etc.

Or Nfts can be used to provide utility to a fan or follower for example access to a locked discord server where they can interact with a ‘celebrity’ or as an access token to a digital (or physical) concert, it could be used to give something back to fans- for example lottery drops every month where one of the nft holders gets a special nft dropped to their wallet which could be exchanged for a meet and greet or.... physical merchandise from their shop.

But no... I won’t be buying this one 😂

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