Robert Steinadler, 10 months ago

Celebrities entering the metaverse – Who holds NFTs?

Actors, musicians, DJs, and all kinds of artists have started to become part of Web3 one way or another. It is hard to keep track of each wallet and ownership of NFTs can change within minutes. Still, some celebrities seem to believe in the vision and have become outspoken members of several communities and are actively engaging with blockchain technology and collectibles as well as the metaverse.

Who has entered the market already and where can you get in touch with your favorite celebrity in the metaverse?

Celebs are celebrating their own NFTs

The list is long and it’s getting longer. It is incredibly profitable for celebrities to create their own NFT collection since they create a global outreach unmatched by any marketing agency. Despite the hype that is created when they announce the production of their own collection not all of them became successful in terms of price development. It seems that having a celebrity as the only USP is not what’s needed to make an NFT collection super expensive once it is minted or sold in a public offering. Here are a few examples:

  • Lindsay Lohan: The actress Lindsay Lohan launched her own token on Rarible in February 2021, which was sold for $50.000. She also released her single "Lullaby" as an NFT.
  • Shawn Mendes: The musician joined the NFT marketplace OpenSea and launched an NFT that was based on his album ‘Wonder’ with Genies. He also sold digital goods and scored more than $600.000 in revenue. It is estimated that Mendes sold these digital goods for $1 million within 10 minutes after they became available.
  • Eminem: The rapper Eminem launched his first set of NFTs in 2021 and raised $1.8 million. His collection included digital action figures and original instrumental tracks among other digital goods.

It seems that NFTs have created the opportunity for artists to monetize their songs and artwork at a relatively low cost and sell them directly to their international fan base. We might see more of these sales in the future and most people getting involved are huge admirers and don’t really care for price development but rather like to hold their own personal piece connected to the artists they love.

The Bored Yacht Club is exclusive

One of the most expensive collections available is the Bored Ape Yacht Club. One reason why this club became so exclusive is the fact that it became known that many celebrities had entered. Who doesn’t want to be part of a movement that is endorsed by high-profile artists? Here is a small selection of celebs who have joined in the past, please note that we don’t keep this list updated:

  • Snoop Dogg: The rapper is highly active when it comes down to NFTs. In 2021 he entered the BAYC.
  • Mark Cuban: Billionaire Marc Cuban is known for his investments in crypto and his public statements about the market. Unlike other members, his BAYC was gifted to him.
  • Steve Aoki: He is the most prominent collector of NFTs and even invested in the Audius platform. He owns a couple of Apes and is highly invested in other collections, too.
  • Eminem: Rapper, producer, and songwriter Eminem is also a member. He is using the NFT #9055 as his profile picture on Twitter.
  • DJ Khaled: He also became a member of the club and bought his Ape in November last year.
  • Dez Bryant: The receiver of the Dallas Cowboys bought a rare Ape with a king’s crown. He is not the only NBA star in the club.
  • Dave Chappelle: His nickname on OpenSea is “FollowtheWhitePeople" and apparently an ape in pimp style was the perfect match for the comedian.

The list continues and from time-to-time celebrities are leaving while others are joining. This fluctuation isn’t really a problem because the BAYC became so exclusive that any NFT that is offered slightly below its fair value is sold within seconds.

The metaverse is an investment

The Sandbox is maybe one of the most ambitious projects. Celebrities like Katy Perry and Justin Timberlake invested in it and Snoop Dogg made his own appearance in this game. Other projects like Decentraland are also attractive to celebs:

  • Paris Hilton: She owns her owns a digital island which includes her home in California.
  • Snoop Dogg: As we already mentioned Snoop joined the Sandbox. He owns land which he is using for virtual concerts, exhibitions, and pool parties. It includes a replica of his mansion in California.
  • Lady Gaga: She released a music pack for a game that is based on virtual reality. In “Beat Saber” the players have to “slash” beats that come rushing in front of them while wearing VR glasses.

It seems that celebs are not only selling their own NFTs but are also getting rooted in the digital world allowing everybody to get in touch with them or enjoy their shows. While touring the world is expensive giving a concert in the metaverse comes at minimal costs. This is an important growth factor for the metaverse. It is easy to enter and it is easy to reach out to millions of people.

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