Media mogul Russel Simmons has hopped on the NFT bandwagon, announcing that his music company Def Jam Records will release its first-ever NFT collection titled 'Masterminds of Hip-Hop.' The one-of-a-kind digital collection seeks to pay tribute to the pioneers of hip-hop.
The collection will consist of a wide range of media, including never-before-seen or heard art and recordings from artists such as Big Daddy Kane, Chuck D, Doug E. Fresh, Busy Bee, and more. "This is my chance to use a new vehicle to revisit and repay these amazing artists while they are still living," said Simmons, who himself laid the groundwork for the business side of hip-hop. This homage-paying collection is set to be released on Tokau, an entertainment and celebrity-focused NFT platform.
90s Hip-Hop NFTs
Russel Simmons Announces Launch of 'Masterminds of Hip-Hop' NFT Collection
Trend Themes
1. Hip-hop Nfts - The trend of creating NFTs in the hip-hop industry presents an opportunity for artists to gain revenue and recognition through their digital art and music.
2. Digital Collectibles - The rise of digital collectibles as a trend in the entertainment industry, allows for companies and individuals to monetize unique and exclusive experiences through NFTs.
3. Celebrity-driven Nfts - Creating NFTs for celebrity and entertainment brands is an emerging trend, enabling companies to use blockchain technology to offer rare experiences and unique content to fans.
Industry Implications
1. Music Industry - The music industry can leverage NFTs as an innovative way to monetize their content and create new revenue streams through digital collectibles.
2. Entertainment Industry - NFTs represent a new opportunity for the entertainment industry to monetize content, exclusivity, and access to celebrities with the rise of blockchain technology.
3. Art Industry - NFTs are transforming the way the art industry values and sells digital art. This presents an opportunity for artists to create and monetize their digital art in new, creative ways.