Similarly, the idea was for Lanez’s NFT album to appreciate in value once it became available to resell on the E-NFT marketplace." "The value of NFTs comes from their verifiable scarcity. In releasing When It's Dark as an NFT, "the idea was for each copy of the album to be minted with a one-of-a-kind token, providing a fool-proof ledger of ownership," Rolling Stone reported. In the wake of charges of felony assault with a semi-automatic firearm and carrying a loaded, unregistered firearm in a vehicle stemming from the Megan Thee Stallion case, Lanez followed up his 2020 release Daystar, with When It's Dark, an NFT-exclusive album fans could purchase on E-NFT, an NFT marketplace.
The rap game and NFTs have taken to each other like peanut butter and jelly, and this August, Toronto rapper Tory Lanez tried his hand using the technology.
Eminem released NFTs and invested in an NFT startup called "MakersSpace." Nas and Pusha T invested in a streaming platform based on the same blockchain technology that birthed NFTs and most recently, the legendary Snoop Dogg revealed that he had been running an NFT-influencer Twitter account and partnered with Ethereum-based video game "The Sandbox" for a new NFT. Method Man released an NFT comic book series. The NFT for the cover of Jay-Z's debut album Reasonable Doubt was auctioned off for $138,600. And, because of the astronomical values and price tags on some NFTs, more and more rich, famous, and powerful people have taken the plunge into the blockchain-secured world.Īmong those rich, famous, and powerful people have been many rappers and rap-game affiliates.
TORY LANEZ CONTROLLA ALBUM COVER SERIAL NUMBER
NFTs (non-fungible tokens) are best described as unique identifiers that are recorded in a block chain and ensure that whatever digital asset they are attached to cannot be "copied, substituted or subdivided." Like a serial number on a baseball card, an NFT ensures that whatever digital asset its attached to is authentically what it is supposed to be and also is a 100% guaranteed identifier of that assets scarcity.īecause many NFTs signify scarcity, the value of certain NFTs can be astronomical and, with the technology's explosion of popularity, more and more people have dived headfirst into buying and selling the non-fungible tokens. Arguably the best example of that futuristic view of production and consumption are NFTs.
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