American Idol is Launching a Set of Collectible Contestant NFTs
Colin Smith — April 18, 2022 — Pop Culture
References: abc & venturebeat
American Idol is celebrating its 20th season with a set of collectible contestant cards sold through 'American Idol NFT Card Packs.' The NFT card packs will be purchasable through 'ThetaDrop,' an online low-cost NFT platform. There will be 14 collectible cards available, each of which is tied to a participant in the show. In addition to being rare collectible trading NFTs, there will be a variety of rewards associated with the tokens based on the performance of each contestant on the talent show.
Rewards will be doled out each week based on which contestant is eliminated. As contestants are eliminated, NFT owners who have a specific set of contestant cards will receive rewards such as merchandise and cryptocurrency. Lastly, holders of the final two contestants' NFTs will receive a wealth of rewards, including $300 of '$TDROP,' the ThetaDrop platform's crypto coin.
Image Credit: American Idol
Rewards will be doled out each week based on which contestant is eliminated. As contestants are eliminated, NFT owners who have a specific set of contestant cards will receive rewards such as merchandise and cryptocurrency. Lastly, holders of the final two contestants' NFTs will receive a wealth of rewards, including $300 of '$TDROP,' the ThetaDrop platform's crypto coin.
Image Credit: American Idol
Trend Themes
1. Collectible Trading Nfts - Opportunity for other entertainment franchises to release NFT collectibles tied to contestants or characters.
2. Incorporating Rewards Into Nfts - Potential for brands to offer rewards to NFT holders based on real-world events tied to the subject of the NFT.
3. Low-cost NFT Platforms - Opportunity for new low-cost NFT platforms to emerge and cater to both established and emerging creators and brands.
Industry Implications
1. Entertainment - Opportunity for other TV shows to release collectible NFT cards that fans could purchase and trade.
2. Branding - Brands could offer NFTs with rewards tied to real-world events like sports games or pop culture events to establish deeper customer engagement and loyalty.
3. Cryptocurrency - As NFTs become more mainstream, it is a ripe opportunity for cryptocurrency platforms to invest in low-cost NFT marketplaces to bring in new customers.
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