Entertainment

Snoop Dogg, McDonald’s And Reese Witherspoon Are Doing NFTs – And So Should You!

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NFT is on the rise again, and it’s coming to us.

In 2021, at a Christie’s auction, the NFT work of Beeple sold for $69 million, and while everyone was fanatic about the deal, one year later, the Snoop dog was planning to turn Death Row Records into an NFT label. Moreover, McDonald’s also joined the league and wanted to use NFTs in virtual restaurants that could serve real food. Hollywood isn’t too far behind in the NFT race either; Recently, Hello Sunshine of Reese Witherspoon signed a contract with World of Women to turn her characters into TV shows and movies.

Diane / Pixels | NFT art is also one way of sending creative messages to the public

Why are NFTs important, and how do they work?

The irreplaceable token has begun to spread in the world of entertainment offering creators a new and unique way to interact with their fans. Creators can also raise funds and create new distribution channels for their work. Having said that, many people still don’t know what NFT is.

Director and producer Rick Dugdale of NFT, starring Anthony Hopkins, said several current contracts freeze the rights to NFT. This is because when digital artwork is published, downloaded, and republished, it often breaks the artist. According to the contract between Hello Sunshine and World of Women, the female artists will collectively create the NFTs. The first batch of 10,000 issues was a huge success and sold out overnight. It is hoped that the next phase will be launched this year.

Alexandru / Pixels | McDonald’s also jumped on the NFT bandwagon

NFT is more than just a digital artwork. It’s a tool that can create the next iteration of the web. True believers in NFT believe that NFT can be a way to create an online ecosystem where work represents both physical and digital things. According to the co-founder and co-CEO of the NFT Curio platform, NFT is a gateway to web3.

He also added that previously the ownership rested on platforms such as Facebook and google, but now, users can retain ownership. Hollywood film and television makers also use NFT to make money and build a fan base before launching their projects. This spring, the animated series “The Glue Factory” will be released. The six-episode series is a comedy about the lives of abused horses who now live in a world where they set the rules. Centaur Studios released 10,000 NFTs last August, and they sold like hot cakes. The cost of each NFT was $300, and $315,000 of the total proceeds were donated to a rescue organization.

Rafale / Pixels | NFT has changed the way Hollywood operates and makes money.

Through the server, token holders were able to participate in various writing tasks such as What posters should be hung in the windows of the equine doctor’s office? The show staff reviewed the idea in a video chat in front of the same audience of token holders. What makes The Glue Factory unique is the involvement of the NFT holders assigned to the project. This encourages a network of banners to take an interest in the display.

If the offer is good, then the initial token can be sold at a higher price to other buyers who eagerly want to be part of the community.

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