Many Americans are already excited for the upcoming Super Bowl of the National Football League (NFL). This is due, in no small part, to the game’s halftime show. Rolling Stone is planning a show to remember, full of music icons. However, that’s not even the biggest Super Bowl-related news from the music media outlet. The football game will mark the launch of a major non-fungible token (NFT) event. Music and art fans should prepare themselves for the launch of Rolling Stone NFTs.
Yesterday afternoon, the company announced that it would be teaming up with cryptocurrency exchange Coinbase (NASDAQ:COIN) for an exclusive NFT drop. The two companies will collaborate on minting an exclusive NFT. They will then offer it as a limited drop to Coinbase Wallet users at the SuperBowl’s Rolling Stone Live event. The series will feature the work of 12 digital artists with tremendous influence in the crypto space. Although the original static design of each NFT is not yet animated, it will be later in the year. At that point, each one will be listed for purchase on the Coinbase NFT peer-to-peer marketplace.
Rolling Stone NFTs: What to Know
For fans of the crypto and NFT spaces, many of the names of the 12 artists will be familiar. The list includes Deadfellaz, Elise Swopes and KidEight. Adding to the mix is the mission-oriented Boss Beauties collection as well as work from noted NFT artists Michael Grill and Jeff Manning. These names have fetched record-high prices at previous NFT auctions. With this hype behind them, there’s no telling how high the prices of the Rolling Stone NFTs could go.
Rolling Stone seems to have changed its tune on NFTs. In May 2021, the outlet published an article posing the following question: “Are NFTs Worth Investing In?” Now, the company has chosen to collaborate with a leading crypto marketplace and combine the release with its very popular Super Bowl event. It seems safe to say that it has answered its own question with a resounding “yes.”
Artists Can Score Too
NFTs have been gaining popularity in the music industry for years, but 2021 saw this trend catch fire. Artists such as Brooklyn, NY-based hip-hop artist ARTZ have discovered the power and utility of NFTs for their industry. Early in 2021, alternative rock group Kings of Leon became the first band to release an entire album as an NFT. For visual artists, the incentives of the NFT market are similarly tempting, and for good reason. As Anthony Georgiades, co-founder of blockchain platform the Pastel Network once told InvestorPlace, “NFTs can decentralize the music industry to put the power back in the hands of the artists and creators.”
Victory Zhang, co-founder and CEO of Smart Token Labs echoed similar sentiments. “Artists are able to monetize their influence in additional ways, such as autographing NFTs for fans or remixing NFTs in unique ways that increase their value and utility to fans,” he stated.
It’s clear that digital art collectors and crypto investors alike may be watching the Super Bowl this year. The collection of Rolling Stone NFTs will likely make a significant splash in their market. Investors will have a chance to own a piece of history. If this becomes a tradition, with new NFTs being dropped each year at Rolling Stone Live, the original collection could sky rocket in value. Investors have every reason to be watching this collection closely.
The Bottom Line
Interest in the Rolling Stone NFTs is going to be high as the Super Bowl draws near. The good news for curious investors is Coinbase recently made it easier than ever to purchase NFTs. In January 2022, the platform launched a partnership with Mastercard (NYSE:MA) to allow users to purchase NFTs with a credit or debit card. As InvestorPlace’s Eddie Pan reported, “The collaboration between the two companies is meant to attract non-crypto users to the NFT world.”
This comes at a good time, as the lure of Rolling Stone Live will likely draw the eye of non-crypto users. Interest in NFTs is about to spike as new investors decide to get in the game. For fans of football or not, this live event will be worth watching.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.