One of the surviving members of legendary band The Beatles has announced a new sale of non-fungible tokens and a metaverse connected to the artwork. Here are the details.
What Happened: Beatles drummer Ringo Starr announced the launch of “Ringo Starr NFT Collection, The Creative Mind of a Beatle.”
A total of 20 NFTs are being auctioned off with starting prices of $1,000. The auction contains four copies of five different digital art prints called “Crash,” “Bandana Man,” “Galaxy One,” “Galaxy Two” and “Starr Art.”
“An iconic, original self-portrait, created by Starr during his early years as a Beatle, animated and dynamically interpreted in a sonic big bang of cymbal crashes and color,” the description for Crash reads.
Each NFT in the auction comes with a signed print and also provides access to an exclusive virtual tour of Ringoland, a new digital gallery experience. The NFTs also come with a custom-made drum composition recorded and played by Starr.
“I am excited to join this digital art community,” Starr said in a video.
Starr said he was honored to join the community and to “build in web3.”
Referencing the creation of RingoLand, Starr said: “I’ve got my own art gallery.”
A portion of the proceeds from the NFT auctions will benefit The Lotus Foundation.
The NFTs are minted on the Ethereum ETH/USD blockchain.
All 20 NFTs have starting prices of $1,000.
The auction kicks off on June 13 at 11 a.m. PDT.
Why It’s Important: Starr becomes the latest in the music industry to join the NFT market and is the first of the two remaining Beatles to launch his own collection.
This isn’t the first NFT offering featuring The Beatles. A NFT of the handwritten notes for the song “Hey Jude” were sold for over $76,000 by Julian Lennon, son of the late Beatle John Lennon.
Lennon sold several pieces of Beatles memorabilia from his personal collection as NFTs. Six NFTs sold for a combined $158,720, with the notes for “Hey Jude” topping the list, according to Rolling Stone.
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