• iHeartMedia plans to launch NFT giveaway ahead of major music festival

  • Mass media holding company iHeartMedia is planning to partner with sustainable NFT platform OneOf to give out free nonfungible tokens, or NFT – a campaign that could expose more music lovers to digital collectibles.

    The campaign is designed to promote the 2021 iHeartRadio Music Festival in Las Vegas on Sept. 17-18. Beginning Tuesday, users can pick up a free NFT “poker chip” directly on the OneOf platform. Up to 1 million tokens can be claimed through Sept. 14. Users who collect the entire set of tokens are eligible to receive a limited edition NFT by artist Cory Van Lew, the digital artist behind Mike Tyson’s NFT series.

    Lew’s NFT will drop on September 14 and will reflect OneOf’s ethos of “artist first,” “for all fans” and “ecologically responsible.” The higher NFT tiers of collectibles include digital signatures of the artists performing at the festival, the companies said. Fans can acquire these NFTs through donations, with 100 percent of the proceeds going to UN-sanctioned climate change initiatives.

    While the companies did not specify which artists included their signatures in the NFT collection, the festival included performances by Billie Eilish, Coldplay, J. Cole, Khalid, Maroon 5 and many others.

    OneOf raised $63 million to support its so-called Green NFT platform for musicians and other artists. The Tezos-powered platform serves as a marketplace for artists and fans to cast, buy and share digital collectibles.

    The iHeartRadio festival will put the spotlight on the NFT marketplace, which continues to attract influencers, large corporations and high-profile investors.NFT sales reached $2.5 billion in the first half of 2021; if recent trends are any indication, the marketplace could easily surpass that total in the second half of 2021. Typical.NFT sales approached $900 million in August, more than tripling the previous month’s high of $255 million set in May.

    While the CryptoPunks line has taken the spotlight in recent months, digital collectibles in other niches have also attracted significant capital. The Ethereum-centric Pet Rocks NFT has generated millions in sales, with the most expensive collection reselling for $1.9 billion.

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