Before the release of Nirvana’s album Nevermind, Pop Legendz is auctioning off a series of NFTs featuring never-before-seen images of the band performing.
Those Nirvana fans who have some money left over after the recent cryptocurrency crash will be able to own a piece of their favorite band’s history immortalized on the blockchain.
On February 20, 2022, an auction featuring never-before-seen Nirvana images and artworks will be held. The crypto-only auction will take place on the same day as the birthday of Kurt Cobain, the iconic band’s leader who committed suicide on April 5, 1994.
On the Blockchain, Nirvana is immortalized.
The auction will feature 27 images and 15 never-before-seen artworks created from a series of photographs taken by photographer Faith West on October 1, 1991, during a band concert at J.C. Dobbs in Philadelphia, six days before the album Nevermind was released.
The images, which are now available on Rarible, include black-and-white photos, psychedelic color edits, and GIFs with various moving pictures.
Pop Legendz, a startup that mints NFTs related to the music industry, is organizing the auction. The NFTs are not all cheap, but the price of the tokens may be justified given the band’s legendary status in the rock scene. Furthermore, the material had not been made available to the public prior to the announcement. The price for each image starts at 1ETH and goes up to 67ETH for GIFs. The auction will almost certainly end with much higher prices.
The winners will receive more than just the NFT. They will also receive a one-of-a-kind framed 16″x24″ print of one of the photographs signed by the photographer.
There are special conditions for Nirvana Fan Club members: 100 users will be able to purchase GIFs for $499, and 100 images will be available for $99. Only club members will be able to pay by credit card. All other buyers will be required to pay in cryptocurrencies.
The Trevor Project will receive half of the proceeds. This organization assists LGBTQ+ youth in preventing suicide. Another portion will be donated to Grid Alternatives, a non-profit that provides solar panels to low-income families.
The Entertainment Industry and NFTs
NFTs are one-of-a-kind tokens that prove ownership by utilizing the properties of a blockchain standard. Unlike traditional cryptocurrencies or non-fungible tokens, which can be exchanged for others with identical properties (such as 1 BTC or 1 ETH), NFTs are minted one at a time and have their own properties. As a result, their name.
Because they are one-of-a-kind, their primary application is as proof of identity or ownership. And, in recent months, the entertainment and gaming industries have been able to capitalize on their strengths.
Outside of the thriving gaming industry, more and more artists are launching NFT collections that provide a one-of-a-kind user experience. NFTs are changing the way artists think about their fan relationships, from concert tickets to song royalties.