Reports confirm that Pop Legendz has decided to auction a series of NFTs with never-before-seen images of Nirvana playing before the launch of their Nevermind album. The Nirvana fans that have some money left after the crypto crash of the past week will have the chance to own a part of the history of their favorite band that is immortalized on the blockchain.
On February 20, an auction will be held with never-before-seen images and artworks of Nirvana. That auction will be crypto-only and will happen on the same day as the birthday of Kurt Cobain, the leader of the iconic band. He committed suicide on April 5, 1994.
Nirvana Is Immortalized On The Blockchain
This auction will feature 27 images and 15 never-before-seen artworks created from a series of pictures that were taken on October 1, 1991, by photographer Faith West during a concert at J.C. Dobbs in Philadelphia. That happened just six days before the release of the album Nevermind.
The images are currently on display in Rarible, including black-and-white photos some psychedelic color edits, and some GIFs comprising a variety of moving pictures.
This auction is organized by Pop Legendz, a startup that mints nonfungible tokens that are related to the music industry. Not all of these NFTs are cheap. However, their prices can be justified considering that the band has gained legendary status in the rock scene.
Furthermore, the material had not been available to the general market until the time of that announcement. Notably, the price of every image starts at 1ETH and 67ETH for the GIFs. The auction might eventually end at higher prices.
Once it is done, the winners will get the NFT plus a unique framed 16 “x24” print of one of the images that are signed by the photographer. For those members of the Nirvana Fan Club, there are some special conditions: 100 users can purchase GIFs at $499, and 100 images will be sold in the market at $99.
Notably, only the members of the club can pay by credit card. All the other participants will be compelled to pay using cryptos. Half of the acquired money will be given to The Trevor Project. That charity helps the youth in the LGBTQ+ community to prevent suicides. Another part of the money is set to go to Grid Alternatives, an organization that focuses on distributing solar panels to low-income families.
NFTs And The Entertainment Sector
Nonfungible tokens are distinct tokens, which use the properties of a blockchain standard to prove ownership. Unlike the normal cryptos or tokens that can be exchanged for others that have the same properties, these NFTs are minted one at a time and have their unique properties. Hence their name.}
Since these NFTs are unique, their primary use is as proof of ownership or identity. In recent months, the gaming and entertainment sector has managed to exploit their characteristics.
Away from the gaming world that is currently booming, more artists are launching NFT collections offering a unique user experience. From the song royalties to the concert tickets, NFTs are managing to revolutionize the way artists conceive their relationships with fans.