Playboy Joins the NFT Frenzy

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This whole NFT thing is turning into a veritable gold rush with multiple creators lining up to become part of the movement ever since Beeple cashed out big time.

Photo by Sora Shimazaki from Pexels.

Of course, who isn’t motivated by the idea of selling their work for millions of dollars?

It looks like Playboy will be joining a range of publishers that will be converting some of their assets into digital non-fungible tokens or NFTs. Think of it as the bitcoin or blockchain technology applied to digital media ownership rights. In other words, it establishes who is the original owner and creator of a piece of digital art.

Playboy joins others such as the New York Times, Time Magazine, and The Associated Press in implementing some kind of NFT strategy with the famed magazine partnering with Nifty Gateway to sell from both the company’s archive as well as help fund the creation of new digital media works.

PetaPixel reports that the first two collections on offer from Playboy include an original work by Slimesunday and a “pride-themed curation” from digital artist Blake Kathryn. The website further reports that the revenue split between Nifty Gateway and Playboy is 20% to 80% with the latter going to the now digital-only magazine.

Nifty Gateway is a kind of auction house and portal for buying and selling NFT digital art. While Beeple was handled by Sotheby’s, we did discuss a partnership between Reggie Watts and holographic tech company Looking Glass to auction off his original work “Noncompliance of Being” on Zora.

What do you think of the whole NFT craze? Is this going to be something that benefits digital media creators or a fad that will quickly fade? Let us know your thoughts on NFT in the comments section below.

Be sure to check out some of our other photography news on Light Stalking at this link right here.

[PetaPixel]

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Kehl is our staff photography news writer and has over a decade of experience in online media and publishing and you can get to know him better here

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