Category: NFTs

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OK, Katy Perry is Back in Crypto, Time to Sell …

Colourful pop queen Katy Perry will make history as the first artist to release NFTs with live content from her upcoming Las Vegas residency in December. She will also acquire a minority share of the proceeds in partnership with Theta Labs.

The global pop star and her talent agency – Creative Artists Agency – will launch the collection on Theta Network’s NFT marketplace ThetaDrop. Powered by the Theta protocol, ThetaDrop is a native blockchain that differs from other NFT platforms in that it was built specifically for media and entertainment content.

Katy Perry

The one-of-a-kind digital collectibles will feature content from Perry’s upcoming show Play, coming to the brand-new Resorts World Las Vegas Hotel in December.

I can’t wait to dive in with the Theta team on all the exciting and memorable creative pieces, so my fans can own a special moment of my residency that’s both a digital collectible as well as an IRL [in real life] experience.

Katy Perry

Fans can register for the first drop at Katy.ThetaDrop.com.

Last Time Katy Entered Crypto We Saw a Big Crash

A post shared by KATY PERRY (@katyperry)

Is it time to sell all your crypto in fear of a repeat crash of 2018, or is it a chance to load up on your Theta bags?

Decentralised live video streaming is here and in extremely high demand as platforms such as Theta and newcomer Aioz fight it out to become the next YouTube. Aiming to offer better streaming solutions, these platforms service the huge worldwide audience of consumers looking to watch ever-increasing amounts of video content across the web.

The NFT movement, and its adoption by artists around the globe, is bringing blockchain technology to centre stage. Digital art re-packaged and sold to superfans as rare collectible NFTs is the latest offering from the music industry and will no doubt be a lucrative one. It’s an exciting time for crypto as it continues to cross over into the mainstream in unexpected ways.

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Crypto News NFTs

Internet Inventor Sells Original Source Code NFT for $5.4 Million

English computer scientist Sir Tim Berners-Lee famously invented the internet in 1989. Now, more than three decades later, a blockchain-based token representing the original source code has been sold by Sotheby’s in an online auction.

Sir Tim Berners-Lee. Source: Guardian

Auction Highlights Internet’s Impact on Society

Sotheby’s catalogue outlined what was included in the sale and provided an articulate expression of the significance of the internet in the modern era:

Over the past several centuries, humankind has seen a succession of paradigm shifts that have brought us forward into the Modern Era … but none has had as seismic an impact on our daily lives as the creation of the World Wide Web. Sir Tim’s invention changed everything, and created an entirely new world, democratising the sharing of information, and creating new ways of thinking, interacting and staying connected to one another.

Sotheby’s

Internet Source Code as an NFT

Of course, the internet itself has not been sold, but rather an NFT containing the original source code. The identity of the buyer remains a mystery and Berners-Lee intends to donate the proceeds to charity.

Visualisation of Internet Source Code, Sotheby’s

Sotheby’s commented that it was considered extremely valuable since it is one of a kind and more so that it was “minted” by Berners-Lee himself.

The symbolism, the history, the fact that they’re coming from the creator is what makes them valuable — and there are lots of people who collect things for exactly those reasons.

Cassandra Hatton, Sotheby’s global head of science and popular culture

Included in the sale are NFTs representing 9,555 lines of code written in 1990-1991 (including an “embarrassing spelling error“), a 30-minute animated visualisation of the code, a digital poster of the code, and a digital letter written by Berners-Lee in June 2021, reflecting on his invention.

NFTs – Legitimate Asset Class?

NFTs are in their infancy and, of course, mania and speculation are to be expected in such conditions. Some will turn out to be worthless and others worth a fortune. For now, it’s difficult to say how it will play out.

“CryptoPunk 7804” sold earlier this year for US$7.6 million. Larva Lab

NFTs raise all sorts of unique legal questions, including those related to copyright. Last month, Jay-Z successfully blocked the unauthorised sale of a digital version of his debut album but how this will apply in different contexts remains unknown.

At present, one could argue it is easy to see how the original source code of the internet NFT is likely to retain value over those belonging to a fleeting reality TV star or a relatively unknown quirky local artist.

Much like the dotcom companies of 2000 where most trended towards zero, the same could be said of many NFTs today. Some types and specific applications will become embedded in our culture and most in time are likely to be written off to irrational exuberance.

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Australian Artists Are Creating Physical NFT Art Exhibitions

Australian multimedia artist Dave Court is the first in his field to stage a physical Non-Fungible Token (NFT) exhibition in his home state of South Australia, and one of the first in the southern hemisphere.

Court, who is based in the SA capital of Adelaide, decked out an otherwise ordinary brick house in colours and light as part of a unique art installation. The house has since been demolished, though collectors can still purchase a digital piece of it online.

Interior of the former Ironbank house, as painted by artist Dave Court

In what would become Court’s so-named ‘House Party’ exhibition, the house at Ironbank in the Adelaide Hills was enhanced with a kaleidoscope of colours in paint and light just before it was torn down in 2020.

It’s something I’ve wanted to do for a long time and then the opportunity came up to paint a house last year … I combined that with other things I was working on in the studio and it [all] came to fruition in this exhibition.

Adelaide artist Dave Court
Artist Dave Court in his Adelaide studio. Image: Angela Skujins/CityMag

The digital works that have outlived the house feature augmented and virtual reality which effectively recreates the original building. Included among these works is NFT artworks that can be bought online with cryptocurrency.

NFT Artworks Break Out in Australia and Worldwide

Earlier in June, Hobart’s Museum of Art & Philosophy (MAP) launched Australia’s first NFT gallery in the Tasmanian capital with an exhibition to coincide with Hobart’s annual Dark Mofo festival.

In June, Binance announced its own NFT Marketplace, saying it would support the NFTs of various creators from Australia through its ‘100 Creators’ campaign.

NFTs are also making waves in the international art world. Just two weeks ago, Sotheby’s sold an NFT artwork for a world record price of US$11,754,000.

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Australia Crypto Art Crypto News NFTs

Australia’s Most Valuable Historic Photo Collection to be Auctioned as NFTs

A treasure trove of more than 100,000 original photographs dating back to the 1880s and spanning five generations has been found in the spare bedroom of a Melbourne family home, hidden under some kids’ bunk beds. The entire catalogue, estimated to be worth millions, will be auctioned by Lloyds Australia.

From Ned Kelly to Phar Lap … and the Queen

The collection includes original glass plate negatives of some rare historical gems, including pictures of Ned Kelly’s armour taken during his trial in 1800, the 1915 Gallipoli landing, Queen Elizabeth II (when she was just a princess), and famous racehorse Phar Lap winning the Melbourne Cup in  1930.

Lloyds Auctions Australia

The Rose Stereograph Company Collection, described by Lloyds as “one of the most important photographic collections in Australia if not the world“, is to be auctioned online, complete with NFTs to offer blockchain proof of ownership.

According to Lee Hames, Chief Operations Officer for Lloyds Auctions, “This has to be one of the most important photographic collections in Australia, if not the world.”

There are original glass negatives in this collection that capture the very first moments of not only Australian but world history and some that may even change the course of history. We believe this to be a world first to offer these tangible original glass plates which rival any modern photographic resolution.

Lee Hames, Lloyds Auctions CEO
M.V. Duntroon & Sydney Harbour Bridge, 1 of 1, Glass Plate Negative 1:1, NFT 1:1, original size: 8.8 x 13.9cm. Original negative & minted NFT are both included in this auction. Lloyds Auctions Australia

Collections Viewable Online

M.V. Duntroon & Sydney Harbour Bridge (above) is just one moment in time from the prestigious collection. Collections such as this one will be viewable online as the art world continues to adopt NFTs and digital gallery exhibitions.

Customers will be able to bid for ownership on both the Lloyds platform and in cryptocurrency on leading NFT marketplaces for rare digital collectibles. Winning bidders will receive the minted NFT along with a tangible one-of-one original glass plate negative.

Just last week, Lloyds announced it would accept major cryptocurrencies as payment for collector or sports cars.

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Blockchain Crypto Art NFTs

Jay-Z NFT Goes On Sale at Sotheby’s – This Time, Approved by Jay-Z

An attempted sale of rapper Jay-Z’s debut album Reasonable Doubt as an NFT was recently stopped by the US District Court of New York.

As one of the owners of Jay-Z’s label Roc-A-Fella Records, Damon Dash allegedly attempted to sell a tokenised version of the album. However, Dash stated he was only selling his stake in the company.

No More Doubt About Reasonable Doubt NFT

In any case, NFT artworks of the Reasonable Doubt album will be going on sale at Sotheby’s – this time with the approval of Jay-Z himself.

From June 25, Sotheby’s put up for auction an NFT commemorating the album, just in time for its 25th anniversary. Bidding starts at $1000 and will continue until July 2.

An undisclosed percentage of the sale proceeds will go to the Shawn Carter Foundation, an organisation that provides scholarships to low-income and at-risk students.

The artwork is called “Heir to the Throne” – which was reportedly the original name of the album in its early stages of conception. The artwork was created by Brooklyn-based Afro-American artist and curator Derrick Adams, who has maintained a long professional relationship with Jay-Z.

Over the years Jay has collected and supported my work and so this collaboration is particularly fulfilling. With this NFT project, we jointly embrace the opportunity to further the conversation about how artists of different mediums contribute to a more inclusive society. Jay’s album Reasonable Doubt changed the game 25 years ago, and continues to influence so many of us.

Artist and curator Derrick Adams

This NFT is the first to be created by Adams – and the first to be sold by Jay-Z. The artwork can be viewed at Sotheby’s Decentraland art gallery.

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Sale of NFT Version of Jay-Z’s Debut Album Stopped by Courts

Jay-Z performing

A temporary disposition by New York legal authorities has stopped the attempted sale of an NFT version of US rapper Jay-Z’s first album, Reasonable Doubt.

The NFT auction has been reportedly interrupted after Roc-A-Fella Records filed a complaint against its co-founder Damon Dash.

Record Label Ownership Rights Unclear

The album is owned by Roc-A-Fella Records, established in 1996 by Damon Dash, Jay-Z and Kareem Burke, and released the same year.

Now, according to the record label, Damon Dash was allegedly attempting to auction off an NFT version of the album – alongside its copyright – on an NFT marketplace named SuperFarm, co-founded by crypto YouTube personality EllioTrades.

It’s unclear whether the owners of the NFT marketplace knew about any of the controversy – or even if the alleged auction attempt actually took place. However, according to Roc-A-Fella Records, another listing on a different marketplace has also been attempted.

The claims against Dash include breach of fiduciary duty, unjust enrichment, and conversion. Roc-A-Fella also stated that the album had already been minted as an NFT.

The bottom line is simple: Dash can’t sell what he doesn’t own. By attempting such a sale, Dash has converted a corporate asset and has breached his fiduciary duties.

Statement from Roc-A-Fella Records

The Attempted Sale ‘Never Happened’: Dash

Dash, however, stated that the sale attempt never happened, and that he was only attempting to sell off his personal stake in the company.

There wasn’t an announcement at all. Don’t you think that if I made an announcement that I’m selling Reasonable Doubt you would’ve heard about it? What they’re accusing me of is minting a whole album. So if it’s already minted, it’s already on the blockchain, that means it’s already there. [The sale] never happened, and they know it never happened.

Damon Dash

A court hearing is set for July 1 in which Roc-A-Fella will be claiming “nominal damages, punitive damages, the cost of the lawsuit and attorney fees, and the enjoinment of Dash from selling any interest in the album”.

Jay-Z is not the first rapper to show interest in NFTs – Eminem’s “ShadyCon” was announced earlier this year.

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Flawless 101-Carat Diamond to be Auctioned at Sotheby’s Accepting Crypto As Payment

perfect diamond isolated on shiny background with clipping path.

International auction house Sotheby’s will accept Bitcoin (BTC) and Ethereum (ETH) for a rare 101.38-carat diamond, the first time cryptocurrency will be accepted as payment at auction of a diamond weighing more than 100 carats.

No other physical object with an estimate even approaching this amount has ever been publicly offered for purchase with cryptocurrency, according to the auction house.

This is a truly symbolic moment. The most ancient and emblematic denominator of value can now, for the first time, be purchased using humanity’s newest universal currency. Never was there a better moment to bring a world-class diamond such as this to the market.

Patti Wong, chair of Sotheby’s Asia

Dubbed ‘The Key 10138’, it is an example of type IIa diamonds, the most chemically pure variety of which only 10 over 100 carats have ever been sold at auction.

A Homage to the Digital World

Sotheby’s, a British-founded American multinational corporation headquartered in New York City and operating in more than 40 countries, is one of the world’s largest brokers of fine and decorative art, jewellery, real estate and collectibles.

With the name ‘The Key 10138’, we wanted to celebrate this enlightening virtue while also alluding to the crucial function of digital keys in the world of NFTs and cryptocurrency.

Wenhao Yu, deputy chairman of Sotheby’s Jewellery in Asia

Along with fiat, the auction house will also accept Bitcoin and Ethereum as payment for the diamond, estimated to be worth between US$10 million and $15 million. The live single-lot auction will be held in Hong Kong on July 9, with online bidding open from June 25. Sotheby’s will host the auction using its hybrid online and live bidding process.

Advertisement for the diamond [Sotheby’s]

The Key 10138 diamond is the main attraction of Sotheby’s inaugural “Luxury Edit” sale series in Asia, bringing together a variety of luxury items that include jewels, watches, wine, handbags and rare sneakers. The auction house has not stated whether these other items will be available for purchase with crypto as well.

Increasing Interest in the Digital Space

Sotheby’s has made significant strides in the adoption of blockchain-related technologies such as NFTs. The organisation recently sold a CryptoPunk non-fungible token (NFT) for a record US$11.8 million.

Last month, Sotheby’s sold a Banksy for US$12.9 million in the first instance of a work of physical art sold by a major auction house that was bought with cryptocurrency.

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Crypto News NFTs

CNN To Sell “Historic News Moments” as NFTs

CNN is joining in the crypto space by sharing “moments” from its archives as non-fungible tokens (NFTs). The prominent news network has officially dipped its toe by minting these moments and selling them as NFTs.

According to a press release from CNN, “Vault by CNN: Moments That Changed Us” will house a select set of digital collectibles, called “Moments”, from CNN’s television archives, minted as NFTs using blockchain technology, to be sold on vault.cnn.com.

The NFTs will be minted from CNN’s 41 years’ worth of archived material and will available on the Flow blockchain, which is also home to NBA Top Shot, a basketball digital collectibles marketplace. The network has not revealed which specific historic moments will be tokenised, but examples may include what it describes as “key historical moments organised around specific themes including early CNN exclusives, world history, and presidential elections”.

The launch is scheduled towards the end of June, from when there will be six weekly drops. As the collector community grows, so will the Vault‘s content, adapting to its community, according to the release.

CNN has also partnered with video framing firm Infinite Objects so users will have the option of rendering their NFTs onto a screen and displaying them physically while offline.

Can Anyone ‘Own’ History?

‘Owning’ historical events captured by news reporters, recorded and aired by CNN? Sounds like a bit of an ownership issue.

Until now, there has been no way to ‘collect’ these moments. Users can often find old footage online, or packaged up in documentaries, but they cannot ‘own’ them or display them in the way they can with a print newspaper or magazine.

CNN press release
Vault by CNN website

CNN’s online archive already boasts 700,000 hours of news content that can be purchased and downloaded without conferring ‘ownership’. Despite putting forward ‘ownership’ as a value proposition of the NFTs, the network notes that “CNN retains copyright and ownership over the content”.

What is CNN going to do to create value around its NFT offering? Is simply putting a ‘moment’ into a video frame enough to capture the interest of potential buyers?

Mainstream Media Using Blockchain Technology

This year, various businesses have started experimenting with blockchain and related technologies. However, organisations that operate in the public eye have also recently shown how they can apply these technologies to their own industries.

Fox Entertainment recently spent US$100 million on an NFT creator fund to support the entire development process of NFTs. Similarly, Marvel recently announced a launch of an NFT marketplace on the Binance Smart Chain (BSC).  The development is focused on Marvel comic fans and content creators can transmit assets into NFTs.

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Crypto News NFTs

Tiger King Netflix Star Joe Exotic Launches NFTs From Prison

Joe Exotic has announced he will be launching his Tiger King NFTs on officialtigerkingnft.com on June 18 on crypto marketplace Mintable.

He will be the first celebrity to partner with MORE, a New York City branding company that promotes celebrities and crypto.

Joe became famous from his viral Netflix show The Tiger King and is currently serving a 22-year federal sentence in Fort Worth, Texas, on counts of animal abuse and attempted murder for hire.

Launching NFTs From … Jail

But that’s not stopping the former zoo operator, police officer and global meme sensation from launching his NFT drop with the support of Brad Small, high-profile entertainment lawyer of Beverly Hills firm Rosenfeld Meyer & Susman LLP.

Tiger King Doge NFT

The NFTs for sale are 3D digital models, paired with in-perspective physical items. The auction will include favourite items seen on The Tiger King, such as:

  • Joe’s favourite pistol and holster and commonly worn jackets
  • Bikinis worn in the series by adult film star Rachel Starr
  • Audio recordings made by Joe in prison, as well as other digital artworks and tokens

The Tiger King has spoken of his excitement about the project, stating:

I’m really grateful to the MORE team for giving me a platform to give back to my loyal fan base. It’s great to have a voice via blockchain technology and I’m honoured to be the first to kick off MORE’s celebrity NFTs.

Joe Exotic
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Blockchain NFTs

Fox Entertainment Invests $100 Million Into Its NFT Platform Content Creation

TV and film company Fox Entertainment has officially launched its new NFT business unit and backed its entry into the blockchain-driven market by establishing a US$100 million creator fund.

In a press release issued on June 15, Fox and its animation studio Bento Box Animation announced the launch of Blockchain Creative Labs:

Blockchain Creative Labs will provide content creators, IP owners and advertising partners end-to-end blockchain computer ecosystem solutions to build, launch, manage and sell NFT content and experiences, and fungible tokens, as well as digital goods and assets.

Fox press release

Expansion of the NFT Space

The $100 million content fund will be used to “identify growth opportunities in the NFT space”, and will be managed by Blockchain Creative Labs.

CEO of Bento Box Entertainment, Scott Greenberg, will pull double-duty as CEO of the new NFT-focused studio and report to Fox Entertainment boss Charlie Collier. Collier stated:

The emergence of blockchain technology has given birth to a new marketplace that is a natural extension of Bento Box’s talents; one that allows the team to support, elevate and reward innovators and artists in new and creatively exciting ways. Our new company, Blockchain Creative Labs, also under Scott [Greenberg] and Bento Box, will help shape and grow the fast-evolving world of creatively-led digital goods and tokens.   

Fox Entertainment CEO Charlie Collier

The Blockchain Gets Animated

In May 2021, Fox Entertainment flagged that its NFT studio would create a dedicated digital marketplace for its upcoming animated comedy, Krapopolis, from Emmy Award-winning creator Dan Harmon. 

Krapopolis is the first animated show “curated entirely on the Blockchain”

Blockchain Creative Labs will “manage and sell digital Krapopolis goods, including NFTs of one-of-a-kind characters and background art and GIFs, as well as tokens that provide exclusive social experiences to engage and reward fans”.