Katy Perry, a pop singer, has declared that she would soon launch her initial NFTs with the help of Theta Network, releasing in the Q4 of 2021. She described the contents of the NFTs to be both an IRL experience and the digital collectibles of her videos made in her residency. The interested people can get registered to acquire notifications about it through SMS or e-mail.
The post about the ‘Crypto Claws’ picture on Instagram earlier in 2018 indicates that she is not a stranger to the world of cryptocurrency. Her nails were painted in the logos of different projects that implied her involvement in cryptocurrency. She is accompanying several other celebrities who have just joined NFTs, on ‘hype train’, such as Lindsay Lohan, Paris Hilton, and Snoop Dogg.
It is an expectation from the crypto community that drastic consequences would not repeat themselves, and the market would experience progress after the entrance of Katy Perry in NFTs. On the other hand, the NFT market statistics present a huge collapse.
The NFTs up till now
There are different opinions about the NFT market. During March, they were prominent in media discussions when ‘The First 5,000 Days’ of Beeple earned a record-breaking amount of $69 million. The price shocked most of the people who reflected common remarks saying that such large sums are wasted to be spent on digital.
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However, Vignesh Sundaresan (the buyer of the piece) expressed that he had no dissatisfaction in purchasing it. He added that he was enthusiastic about spending more if the need had arisen. He further justified his stance by mentioning that a new era of digital is starting via NFTs. According to him, the shift to the new age began with his purchase of ‘The First 5,000 Days’ at the respective price. But he admitted that the community would realize its importance later on by revealing that sometimes people take time to recognize such things.
Perry signalled that her NFTs would contain the memorable and creative moments depicting her residency, which is located at Las Vegas’ Resorts World Casino. But that would not make an appropriate concept until the actual NFTs are released.
A slump in NFT sales?
In May, the reports disclosed a high market position of NFTs as $102M valued sales of NFTs were recorded on 3rd May. Despite that, the sales of NFT have been collapsed on 30th June as standing on only $1.1M, counting for the 99% slump in the sales volume.