News hardware With these NFTs, you can attend Buba’s concert for free… or almost
The famous French rapper also uses blockchain technology. About 1 year ago, Bubba was one of the first artists in the music industry to release non-fungible tokens – giving fans access to various exclusive benefits.
A Spectacular NFT Sale
Rapper Bubba was one of the first to propose such a virtual musical innovation. In November 2021, the 92 rapper decided to release the clip for his title track “TN” with non-fungible tokens.
So at the start of the speculative bubble around NFT technology, the artist offered a collection of 25,000 tokens for sale. Specifically, these virtual certificates for fans were presented in the form of five types of animated cards. Each card was limited to 5,000 copies.
Welcomed by the crypto community and its fans, the venture was a resounding success as all copies were sold out within a very short time. Initially sold for 0.006 eth, or 20 euros at the time, the collection managed to run out of stock very quickly.
After this sale, the artist recorded the 125th profit at that time for a total value of 564,000 euros. After Ethereum’s price collapse, according to VentesRap, the sum is worth only 237,572 euros today.
In addition to the commercial aspect of this type of digital sale, the sale made it possible for fans of the artist to experiment with a new consumption method. Beyond collecting, these cards prove useful to anyone wishing to access exclusive “perks” associated with the artist.
Among these benefits: owners were able to access previews of clips or even participate in a draw to receive a VIP pass to a rapper’s concert.
A free livestream of Booba concert at Stade France for NFT holders
Almost a year after this sale, owners of these NFTs are still profiting from their purchases On the occasion of his concert at the Stade de France, rapper Booba will once again allow owners to use their NFTs.
In fact, the eagerly awaited 2h30 show by fans will be telecast live on the internet. To access the famous online livestream, fans have to pay €15. Only if you own an NFT, failing to physically be at the concert, will you be able to access the stream for free.
A way to compensate, as we think, despite the large capacity of the Stade de France, the concert was sold out. Thus, through the use of NFTs, Bubba demonstrates a new utility that may please many of the rapper’s fans.
What is an NFT?
An NFT is an acronym for Non Fungible Token or Non Fungible Token in French. NFTs are cryptographic tokens issued on a blockchain.
Leveraging this technology at the origin of cryptocurrency, NFTs inscribe inviolable properties into this virtual register. As a result, NFTs are digital proof of ownership.
Is an NFT necessarily a picture?
A distinction must be made between an NFT and its associated object. In fact, non-fungible tokens are after all a virtual property certificate and not like a digital file. An NFT is usually associated with a photo or video, but can also take the form of text, music or any other digital or physical format.
What is an NFT used for?
NFTs are commonly used to assert property rights online. Thus, the owner of a token of virtual work can collect royalties, ensure respect for the intellectual property of his digital object, etc.
This feature has significantly enabled NFT to shine in the industry by creating value and rarity in digital images available on the web. Also, beyond industry, this technology offers multiple uses in different sectors such as in video games, traceability of a product, etc.
How is an NFT value defined?
These tokens are non-fungible, meaning they have a unique value unlike cryptos, which are fungible (1 Bitcoin = 1 Bitcoin).
So the owner of the token arbitrarily determines the value of an NFT. This price is usually in cryptocurrency, most often Ether (ETH).
How to buy and sell NFT?
NFTs are usually bought or resold on trading platforms such as OpenC or Foundation.
What is an NFT Mint?
The “mint” or strike in French is the initial sale process of a token. To be permanently part of the blockchain ledger, these new tokens must be minted. With this action, the user comes to complete a transaction with his fee so that his token appears first on the blockchain.