NFT roundup: February 2022
Coachella to sell lifetime passes in NFTs
In partnership with cryptocurrency exchange FTX US, Coachella is now selling lifetime passes in the form of NFTs. Coachella’s NFT collections included items such as photos that could be redeemed for physical prints and a collectible poster series.
The Coachella Keys Collection is the most popular NFTs. It consists of 10 NFTs that allow holders lifetime tickets to the festival. By purchasing these NFTs, buyers may also unlock unique on-site experience. For example, for the 2022 festival, buyers may enjoy front row access, a lifetime camping at the coveted Safari Campground whose tent price starts at $9,500, as well as a celebrity chef dinner.
Roksanda released NFTs in partnership with Institute of Digital Fashion and Clearplay during London Fashion Week
As reported by Vogue Business, fashion house Roksanda has released its first NFT collection in partnership with the Institute of Digital Fashion (IODF) and Clearplay during London Fashion Week as a part of its Autumn/Winter 2022 fashion show.
Unlike other NFTs that use ethereum as their currency, Roksanda’s NFTs could be purchased on its website with pound sterling. This is seen as Roksanda’s effort to simplify the NFT purchasing experience, making it more accessible to its existing consumers.
The NFT is sold in a tier system, ranging from £25 for one of 500 3D costume renders to £250 for one of 250 3D animated costume renders. The NFT owners could wear the NFT gown in the metaverse.
Victoria’s Secret files four metaverse-related trademark applications as it plans to enter metaverse
Lingerie company Victoria’s Secret on 8 February filed four metaverse-related trademark applications. This indicates the company’s new strategy to tap into the metaverse as well as its plan to start selling its products virtually. This move also indicates Victoria’s Secret's intention to offer its designs as NFTs on different platforms in the metaverse.
According to its trademark attorney Mike Kondoudis, Victoria’s Secret will start to offer digital collectibles and media created with blockchain tech as well as online clothing that can be used in virtual settings.
Indonesian NFT Karafuru sold out in 7 minutes upon release
Local NFT collection Karafuru, created by Indonesian illustrator Wede (@WD_Willy) in collaboration with Museum of Toys, Urban Sneaker Society Dyang Menjaka, becomes another best selling Indonesian NFTs after Ghozali’s.
The collection sold out in only 7 minutes upon its release in early February. In just a week, on 14 February, it managed to occupy the first place on OpenSea as it had the highest sales volume on the platform. The most expensive NFT to date is Shi'rai #2989 which is currently owned by WiredUniverse and priced at 375 ETH.
Universal Music Group in partnership with NFT platform Curio to release NFT digital collectibles
Universal Music Group (UMG) announced its partnership with entertainment-focused NFT platform Curio. Through this partnership, UMG will create and launch future NFT projects with its artists and labels on Curio.
“UMG and our labels are focused on developing NFT projects that authentically engage and speak to our artists’ fan bases and new audiences,” said UMG Executive VP Digital Strategy Michael Nash in the company’s press statement.
Both companies are working together to release its first NFT project this spring, featuring British singer-songwriter Callum Scott.
Digital film company Cinemarket launches Cineverse platform for filmmakers to market film NFTs
As reported by Variety, Cinemarket, which is known as a company that markets digital films, launches its new open platform Cineverse which allows filmmakers, distributors and producers to market films directly in the form of NFTs by using blockchain technology. The platform is established by Cinemarket CEO Adrian Lugol and partners Vincent Lopez and Daniel Siegler.
Lugol stated that Cineverse will provide opportunities for independent filmmakers who would normally not have the chance to reach international audiences and have found it hard to even find distribution deals and to enter the European and North American markets.
He also mentioned how filmmakers may sometimes be offered bad deals by major streamers as well as the increasing legal complexities of doing business due to the impact of the COVID-19 crisis on film festivals.