The auction comes during the technology’s seemingly overnight transformation into a fascination of the investing world.
Whether or not the non-fungible token (NFT) bubble – as newly-minted millionaire and digital artist Beeple calls it – will imminently pop is a question for ongoing debate. But one thing is clear: Lindsay Lohan issuing her own NFTs through Tron is a signal of the market’s froth. The former Disney star plans to auction them off on March 20.
Lohan’s participation in the booming NFT scene comes during the technology’s seemingly overnight transformation into a fascination of the investing world. As CNBC runs multiple segments a day on NFTs, digital artists and musicians chase millions of dollars through auctions and sales.
The Lohan sale will be taking place on a new NFT clearinghouse on the Tron blockchain that also touts the involvement of musicians Swae Lee, Tyga, Ne-Yo, Soulja Boy and other celebs.
NFTs are unique blockchain addresses that attach an immutable digital history of “ownership” to files and objects, even when those items, being digital, are freely available for anyone to enjoy. Think of them as digital bragging rights you can sell. They differ from more well-known crypto “currencies” in their non-fungibility.
It was not clear at press time what exactly the content of Lohan’s upcoming NFTs were, and Lohan could not be immediately reached for comment. An earlier work featured bitcoin imagery.
“Hollywood and the Music industry are finally waking up to crypto and it is in large part thanks to NFTs,” Lohan said in a statement promoting an upcoming Clubhouse chat with Sun and former T-Mobile CEO John Legere. “I couldn’t be happier to be a part of this revolution, helping to bridge the gap between creators and content admirers.”
In her monthlong foray into crypto, the musician/actress has spontaneously sold a decentralization-themed album cover NFT on the digital marketplace Rarible as well as a Daft Punk NFT for $15,000 in ether. She also praised Justin Sun for his “super fast and 0 fee” Tron blockchain in a Feb. 11 tweet.
If Lohan had been paid to promote the famously marketing-heavy Tron on an ongoing basis, Sun’s team members would not say. They did not answer CoinDesk’s emails by press time. (Undisclosed payments by token fundraisers have landed celebrities such as actor Steven Seagal, musician DJ Khaled, boxer Floyd Mayweather Jr. and others in hot water with U.S. regulators in the past.)
Tron is a competitor to the Ethereum blockchain that claims to beat the decentralized finance market leader on throughput, speed and fees.
Lohan has pledged past NFT sales to charity.