One Step Closer to Adoption: Linkin Park’s Star NFT Sold for $30,000

Mike Shinoda of Linkin Park has sold his first NFT, raising $30k, a confirmatory tweet from Zora, an NFT online market place, reveals on Feb 8.

Linkin Park Front Man Sold His first NFT Piece for $30k

A feat for Mike, the proceeds from the called One Hundredth Stream auction will be donated to the Michael K Shinoda Endowed Scholarship at ArtCenter College of Design. The scholarship benefits students based on artistic merit and financial need.

The piece was uploaded over the weekend and drew instant interest from across the crypto and creative communities. Throughout the auction, users could bid on different currencies, not just ETH or DAI. As of writing on Feb 8, the last bid price on the crypto digital piece stood at 6.66 WETH.

A New Age of Art Distribution

In a follow-up tweet, the creative lauds blockchain’s possibilities and how transformative it can be, especially for unconventional artists. He pointed out the effectiveness of non-fungible tokens (NFTs) as a new way of art distribution, a sharp divergence from legacy platforms complicit in commodifying creators.

Because of the base layer’s security and immutability, crypto art NFTs are unique, limited in supply, and cannot be copied. Each can be traced in the blockchain, introducing new ways of protecting creatives’ interests.

Most importantly, for artists seeking to draw maximum value from their work, each piece’s price is defined by the market.

The highest bidder of any immutable and digital piece owns the piece. In the era of blockchain provenance, creativity and value are all defined by the community and market, not a panel of judges.

“This should be very interesting for people who make unconventional art, or people who have been told their art isn’t art at all. Maybe it is. The community will decide.”

Soulja Boy Mints “Crack That”

More artists appear impressed with NFTs. Recently, Soulja Boy minted his first NFT called “Crank That” on Rarible, another NFT market place. It follows the American artist’s buying of several cryptocurrencies, including BNB.

As BTCManager also reported, Miss Bitcoin partnered with Enjin to launch the first NFT project in Japan.

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Linkin Park’s Mike Shinoda Joins Ethereum NFT Boom

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The NFT hype is showing no signs of slowing. Now, Linkin Park member Mike Shinoda has shared his first digital collectible piece. 

Mike Shinoda Mints NFT

Mike Shinoda, the American musician best known for his role in the seminal rock band Linkin Park, has released his first NFT. 

An auction for the digital art piece, titled “One Hundredth Stream,” is running on Zora, an exchange for buying limited edition art and other goods. 

Zora lets users bid on items using various currencies. Since listing “One Hundredth Stream” earlier this weekend, it’s received a bid of 7 WETH—around $11,200 at publication. 

Shinoda confirmed that he would donate the proceeds from the winning bid to a scholarship he funded at ArtCenter College of Design. 

The NFT contains music created by Shinoda. He explained that listing an item this way would likely be more lucrative than releasing a song worldwide through traditional methods. 

Based on some of his other Twitter comments, the listing has received a mixed response from his fans. He said

“It doesn’t matter if you think a current bidding price is too high for a digital collectible. It matters that one person thinks the [sic] price is worth it.” 

Shinoda isn’t the first musician to get involved in the NFT boom recently. Only a few days ago, Soulja Boy minted his first piece. Lil Yachty also raised $16,050 for his first collectible, and Carl Cox has released music as a token in a similar way to how Shinoda has done. 

The auction ends this weekend. It can be viewed here

Disclosure: At the time of writing, the author of this feature owned ETH, among a number of other cryptocurrencies.

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In the end, do NFTs even matter? Linkin Park rapper joins celebrity NFT mania

Mike Shinoda, the musician and co-founder of rap-rock band Linkin Park, launched an auction on Rarible last night for “Zora,” a nonfungible token (NFT) music clip from a forthcoming song. In doing so, Shinoda joins an ever-growing throng of celebrities and influencers who are dipping their toes into NFT tech — and bringing their considerable fanbases along for the ride. 

Late last night Shinoda revealed the drop with a short Tweet:

In a follow-up thread Shinoda described the auction as an “experiment,” and seemed to be impressed with the value proposition of provable scarcity and ownership:

“Here’s the crazy thing. Even if I upload the full version of the contained song to DSPs worldwide (which I can still do), i would never get even close to $10k, after fees by DSPs, label, marketing, etc,” he wrote.

He ended the thread with a link to a “beginner’s guide” explainer on NFTs, inviting his followers to learn more.

More celebrities than a gossip mag

Shinoda isn’t the only celebrity who has been toying with NFTs. 

Yesterday, YouTuber Logan Paul released a set of 44 NFTs styled as pokemon cards to promote his upcoming celebrity boxing match. Likewise, billionaire investor Mark Cuban released some halfhearted animations on Rarible, and today is releasing another set where buyers can request personalized videos from the Shark Tank host.

Polyient games co-founder Craig Russo says that the celebrity activity is an inevitable byproduct of a wild bull market overtaking the NFT space, but also a natural product-market fit that better links famous individuals to their communities:

“After a relatively slow period over the past few months, the NFT market is again heating up,” said Russo. “Given that the current use cases for NFTs are approachable and very social in nature, we’re beginning to see an influx of mainstream interest. This has ultimately resulted in a few notable celebrities entering the space.”

Notable celebrities… and a few less-than-notable ones as well. Rounding out the big names trying to pawn some tokens is one-hit wonder Soulja Boy, who has been selling collectibles on Rarible throughout the last week. He currently has 30 ETH worth of animations for sale, and is experimenting with other non-blockchain content platforms, having recently set up an OnlyFans account.

Direct to consumer

While some efforts have been more of a blatant money-grab than others, there are plenty of examples of projects and people who appear genuinely interested in using the technology to better connect with their fans. Openlaw co-founder and NFT investment group Flamingo DAO member Aaron Wright says it’s a natural fit, and a perfect use case for blockchain.

“One of the visions of Ethereum has always been Web3 and the creation of an ownership economy. With the growth of NFTs we’re seeing that play out,” said Wright. “Celebrities are recognizing that instead of relying with ad-based models, they can interact directly with their community and tribe online by selling their creative works.”

Pranksy, the collector-whale who has recently been proselytizing NFTs to the masses on the nightly news, likewise thinks that celebrities using NFTs to monetize their content and connect with fans might be here to stay. 

“Mark Cuban is not the first, nor will he be the last celebrity to monetise NFTs. More eyes on the space can only be a good thing, and the hope is they continue to embrace and support the community beyond a quick cash grab,” the collector said.

It’s a notion that Shinoda himself seems to have latched onto. After critics uninitiated in the tenets of NFTs criticized him for selling content users can see for free, Shinoda gave a short lesson on value and NFTs to his followers:


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