Report said that Ja Rule flogs Fyre Festival painting, dance moves are tokenized, and a new record price recorded for licensed NFT sports memorabilia.
It has been reported that the latest celebrity to suddenly realize the immense artistic significance of tokenized art is rapper and Fyre Festival co-founder Ja Rule, who is auctioning off a 48-inch-by-60-inch, oil-painting of the Fyre Fest’s corporate logo with accompanying NFT.
However, the auction, which has a reserve price of $600,000 kicks off on Flipkick.
The report said that the Fyre Festival was a much-hyped 2017 luxury festival in the Bahamas featuring $100,000 ticket packages that turned into a legendary disaster.
Co-founder Billy McFarland landed in prison for six years over a $28 million fraud, but Ja Rule was cleared of any wrongdoing. He clearly still harbors ill feelings though. “Fuck this painting,” he writes in his notes about the NFT and painting.
Likewise, Rule’s long history with NFTs stretches back at least “a couple of weeks,” when he first discovered the concept.
“I wasn’t too educated on them, and I’m still learning a lot about it. I think people got a little bit tired of the regular stocks-and-bonds way of investing.”
According to the report, the Beauty in the Streets performing arts project has partnered with Enjin blockchain to allow dancers to tokenize their signature moves as non-fungible token-based “emotes.”
The tokenized collectibles represent particularly tricky moves, think Michael Jackson’s moonwalk, which is then sold to players to be used as animated emojis in participating games. The first tokenized move, Snap Boogie’s ‘Speedy Walkovers’ is up for auction and can be used in the Enjin-powered AlterVerse game.
Hic et Nunc, an NFT marketplace engineered by Brazilian developer Rafael Lima, has been LIVE for about two weeks now. Digital art luminary Mike Tyka has now minted his Portraits of Imaginary People collection as NFTs, comprising work previously exhibited at Christie’s.
Thus, he said:
“Minting NFTs using Ethereum would wipe out years of trying to reduce my personal climate footprint at the click of a button. After discovering some recommended alternatives, I felt that if I’m going to enter this space, I want to support what I see as the only practical and ethical future of NFTs.”