iHeartMedia plans NFT giveaway ahead of major music festival
iHeartMedia plans NFT giveaway ahead of major music festival
Cory Van Lew, the digital artist behind Mike Tyson'due south NFT drove, will drop his iHeartMedia-inspired lineup on Sept. xiv.
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Mass media holding company iHeartMedia is planning to distribute free nonfungible tokens, or NFTs, in partnership with sustainable NFT platform OneOf — a entrada that could introduce more music lovers to digital collectibles.
The campaign is intended to promote the 2022 iHeartRadio Music Festival in Las Vegas, which will accept place Sept. 17 to 18. Get-go on Tuesday, users tin merits one gratuitous NFT "poker chip" on the OneOf platform. Up to 1 million tokens are claimable through Sept. 14. Users who collect an entire set are eligible to receive a limited edition NFT by artist Cory Van Lew. As Cointelegraph reported, Van Lew is the digital artist behind Mike Tyson's NFT drove.
Lew'due south NFT drib will have identify on Sept. 14 and will reflect OneOf's ethos of "Creative person First," "For All Fans'' and "Eco-Responsible." The companies said collectibles in the higher NFT tiers include digital autographs from artists who will perform at the festival. Fans can obtain these NFTs by making a donation, with 100% of the proceeds going toward climate change initiatives endorsed by the United nations.
Although the companies didn't specify which artists included their signatures in the NFT collection, the festival includes performances from Billie Eilish, Coldplay, J. Cole, Khalid, Maroon 5 and many others.
As Cointelegraph reported in May, OneOf raised $63 1000000 in support of its so-called greenish NFT platform, which targets musicians and other artists. The Tezos-powered platform serves as a marketplace for artists and fans to mint, purchase and share digital collectibles.
Related: Visa white paper describes NFTs equally a 'promising medium for fan engagement'
The iHeartRadio Music Festival will smoothen the spotlight on the NFT market, which continues to attract influencers, megacorporations and high-profile investors. NFT sales reached $ii.five billion in the offset half of 2022. If recent trends are whatever indication, the marketplace could hands surpass that total in the second half of 2022. As a case in signal, NFT sales approached $900 million in Baronial, more than tripling the previous monthly high prepare in May at $255 million.
Related: Investors are shelling out six figures for pet rock NFTs
Although the CryptoPunks collection has dominated the spotlight in recent months, digital collectibles in other niches are also attracting serious capital. Pet rock NFTs centered around Ethereum accept generated millions in sales, with the most expensive item in the collection going for a resale cost of $1.9 billion.
Source: https://cointelegraph.com/news/iheartmedia-plans-nft-giveaway-ahead-of-major-music-festival
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