Paris Hilton was born to embrace NFTs. The latest craze in cryptocurrency has all of us scratching our heads with the outrageous amount of money thrown in them. And for someone who loves her bling and the limelight, it's no surprise that this socialite names her dogs "Crypto" and "Ether." And did you know that "Reum" is her fiancé's last name? Talk about fate.
So, if Paris is born to make money off NFTs, it makes sense to learn about non-fungible tokens from her perspective. Now the question is this: will she do an excellent job explaining it?
She thinks NFTs are a source of empowerment and inspiration for creators. By the way, she's no stranger to the arts, having drawn her kitten named Munchkin (awhh, isn't that cute?) on her iPad. Mind you, that drawing was sold for $17,000 as an NFT.
She also believes that NFTs open a bright future for digital art. It's an avenue meant for everyone to succeed, not just renowned artists and creators.
Paris defines NFTs, saying that it's perfectly fine for someone to get confused by them. She mentions Nifty Gateway and Origin as her favourite NFT platforms, which isn't a surprise because of her interest in digital art.
To prove her utmost fondness for NFTs, she even has a separate Instagram account for her collection. She understands what it means to have exclusive digital ownership of her items, which makes them quite valuable.
It's fair to say that Paris Hilton knows what she's talking about; she even went as far as explaining the difference between NFTs and Bitcoin. She said that while cryptocurrencies like Bitcoin are digital currencies built on blockchain technology, NFTs are built on the blockchain audience. And did we mention she has almost 40 NFTs?
Other Celebs Earning From NFTs
Logan Paul, the proud "second-most hated person on the internet," recently sold over $5 million of NFTs, highlighted by a set of digital Pokémon card images. Showing an ultimate admiration of himself, the collection featured an anime version of himself. Who's jealous now?
Singer Grimes loves NFTs like his boyfriend, Elon Musk. She's probably made more money selling several digital art pieces as NFTs over at Nifty Gateway than her career as a musician. She made headlines when she fetched about $6 million in profit for less than half an hour. Grimes' "Death of the Old" was sold for $389,000.
Snoop Dogg, reinventing himself as an NFT enthusiast, has reportedly received millions in profits for his first-ever NFT called "A Journey with the Dogg." It's a mashup of tracks from his early days as a rapper. The rapper is big on crypto and has been saying bullish stuff about Bitcoin and XRP on Twitter. He's not shy of his interest in NFTs, too, saying that it'll change the way artists like him earn money from the business.
Eminem's first venture into NFTs is called "Shady Con," but it's not like any other collection from musicians. It's offered in the form of a digital festival, where the American rapper's fans get the chance to own it via Nifty Gateway. The collection is comprised of unique tracks created by Eminem. The 15-time Grammy Awards winner said that he loves collecting stuff and that NFTs provided him with a market for his collections.
Jack Dorsey's first-ever tweet that sold for $2.9 million is one of the craziest NFT stories out there. The Twitter CEO took full advantage of the craze by minting the tweet that says "just setting up my twttr" into an NFT and selling it for that unbelievable price. The fact that he donated the proceeds to a charitable organization injects a sigh of relief.
If everyone is as drop-dead gorgeous as supermodel Kate Moss, it wouldn't be that hard to sell a video of oneself sleeping. Yes, you heard it right - Kate recorded a video of herself and gave it the title "Sleep with Kate." The clip was minted into an NFT and sold for $17,000. Talk about making money while on RNR. Oh well, she did send the money to a non-profit organization.
Now, there's so much money in NFTs that it doesn't make sense. Only a handful of people have made loads of money off them - Paris Hilton, Grimes, Snoop Dogg, etc. But as time goes by and word gets out about how lucrative this business is, more celebrities are expected to develop their NFTs, which means more money spent to buy them.
That's what it is right now - a trend that is making big bucks for those who are playing the game. No wonder there are thousands of people joining this bandwagon every day to earn millions of dollars in an instant.
The concepts of demand and scarcity drive the phenomenon. NFTs are backed by blockchain technology and its unique security measures. In other words, NFTs are powered by the same components that earn digital currencies like Bitcoin their value.
When famous people create something, there will always be fans willing to spend money to get their hands on an item that they'll get exclusive digital ownership. The same principle applies to a Picasso or Monet. Only this time, ownership is digitally proven and secured.
But NFTs aren't just for celebrities. Anyone who can develop an artistic piece of digital content can mint it into an NFT and watch the money roll in. Recognized names like Paris Hilton and platforms like Twitter may have the edge in stirring interest from the crowd of collectors and fans, but that doesn't mean there isn't a place for newcomers with fresh ideas to get in on the action.
Anyone can mint an NFT and sell it, which means some lucky folks out there might earn millions of dollars in a single item. With multiple industries chiming in, i.e., online gaming, museums, and sports, it won't be long for "common" people to stand out in the NFT marketplace.