OpenSea Adds 'Collector Drops' to NFT Marketplace With Shawn Mendes Wearables
The new series puts OpenSea in competition Nifty Gateway, which has cornered the celeb NFT market to date.
The non-fungible token (NFT) craze continued to make inroads among pop culture brands this week with Canadian singer Shawn Mendes agreeing to issue digital wearables in partnership with avatar company Genies.
- Mendes' collection of concert-style collectibles is set to debut on the NFT marketplace OpenSea midday Friday, becoming the digital auction house's first "digital goods drop."
- The new OpenSea product puts the platform in competition with the Winklevoss-owned Nifty Gateway, which has cornered the celeb market with a series of high-profile releases.
- The collectibles issued by avatar-maker Genies allow fans to deck their own digital alter-egos out with limited edition and licensed swag in a twist to the NFT sales reshaping card collection and art at breakneck speed.
- For his part, Mendes said proceeds of the sale will benefit a grants program for aspiring digital artists that his charity is backing. Mendes plans to incrementally release more NFTs as his career develops, Genies CEO Akash Nigam told CoinDesk.
- "We really do believe in the long-term longevity of all this," Nigam said. He argued avatars are among "the best vehicle[s] to get people to comprehend" NFTs.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.