Joining NFT Mania, Lindsay Lohan Explains Why NFTs Are Perfect for Hollywood Industry

By Bhushan Akolkar
Published March 28, 2021 Updated March 28, 2021
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Joining NFT Mania, Lindsay Lohan Explains Why NFTs Are Perfect for Hollywood Industry

By Bhushan Akolkar
Published March 28, 2021 Updated March 28, 2021

From digital artists to tech billionaires, and now Hollywood stars, everyone’s willing to taste the pie of the NFT world. Popular Hollywood start Lindsay Lohan is the latest to join the NFT craze and thinks that NFTs will have massive acceptance in the Hollywood industry.

On Saturday, March 27, Lindsay announced that she will launch her new single “Lullaby” as a digital NFT on the FansForever marketplace. She added: “this is a genesis piece and history in the making!” Lihan has also said that a portion from the sale to Save the Children foundation.

Lindsay strongly believes that NFTs could lead to better monetization opportunities in the music industry. “Tokenization through NFTs can help content creators and musicians actually own the property rights for what they create, and allow them to profit accordingly,” she said.

Lindsay is not the first from the music world to consider launching a song as an NFT. Last month an American Rock Band Kings of Leon announced the launch of their music album NFT.

NFTs Could Bring Bring Huge Opportunity to Hollywood Industry

Lindsay definitely thinks that the use of NFTs could be all across the Hollywood industry. During her interview with Forbes, Lindsay said:

“It’s only a matter of time till everyone in Hollywood and beyond gets involved. Maybe we will see the tokenization of movies, and of how artists are paid for their films, music and art. I see a future where crypto, NFTs and blockchain will be the norm, rather than the exception.”

Lohan notes that earlier she didn’t have much understanding beyond Bitcoin and blockchain, however, as she learned more about it, she realized the massive potential of the crypto world.

NFTs aka non-fungible tokens have created a huge buzz in the cryptosphere. Over the last few months, NFTs worth hundreds-of-millions-of-dollars have been traded grabbing the attention of some of the most popular personalities from the business and tech world.

Last month, over $300 million worth of NFTs were traded in the open market. Beeple’s digital artwork NFT that sold for a massive $69 million created a huge buzz while Twitter CEO Jack Dorsey recently sold his ‘first tweet NFT’ for a massive $2.5 million. The world’s richest man Elon Musk also showed some interest in NFTs. 

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan Akolkar
772 Articles
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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