Reports aid that John Lennon’s eldest son Julian is selling some of the rarest pieces of music history from his private collection as a nonfungible token (NFT).
It has been reported that John Lennon’s coat from the “Magical Mystery Tour” film, his cape from “Help!,” three guitars and Paul McCartney’s handwritten arrangement notes for “Hey Jude” are some of the most sought after Beatles memorabilia up for NFT auction.
However, the NFT series, called "Lennon Connection: The NFT Collection," has opened up for bidding on Monday and will commence on February 7 in collaboration with NFT marketplace YellowHeart and Julien's Auctions. A portion of the sale from the NFT auction will be donated to Lennon's White Feather Foundation.
The report said that Julian would keep the original physical items and the buyer would own the rights to the unique NFT. Each NFT in the collection would be offered as an audio-visual collectible, narrated by Julian Lennon, himself.
Likewise, the most notable item that is expected to attract the highest bid is said to be the hand-written note by Paul McCartney for "Hey Jude." The NFT for the item has a starting price of $30,000. Julien’s Auctions has previously sold other Beatles memorabilia, fetching millions of dollars in the auction.
Some of the most notable items include one of John Lennon’s acoustic guitars, which fetched $2.4 million, Ringo Starr’s drum kit, which was sold for $2.2 million and the drum head Ringo used on the “Ed Sullivan Show” in 1964, which was sold for $2.1 million.
Thus, NFTs have become the latest trend in crypto and many believe it would disrupt the art industry. Mainstream artists and celebrities have ditched traditional auctions for NFTs as it has become the latest trend in the art industry.