August 5, 2021

Katy Perry To Launch Her First NFTs On The Theta Network

3 min read

Pop singer Katy Perry has announced the launch of her first-ever NFTs on the Theta Network, coming Q4 this year. Those who are interested can sign up to get email or SMS notices when they drop.

Perry is no stranger to cryptocurrency, having published the notorious “Crypto Claws” pic on Instagram in early 2018. It revealed her nails painted in a number of project logos and was, in retrospect, taken as an indication of the top.

She now joins the growing list of celebs who have jumped on the NFT “buzz train,” consisting of Snoop Dogg, Paris Hilton, and Lindsay Lohan.

Let’s hope history doesn’t repeat and crypto markets enjoy bullishness well after Perry’s NFT drop. Nevertheless, the exact same can not be stated for NFTs, as information on sales reveals a huge depression.

NFTs Hype Has Quietened Down

NFTs continue to divide viewpoints. They were at peak media hype around March this year, when Beeple’s The FIrst 5,000 Days sold for a recording breaking $69 million.

The market price was a shock to most, with common remarks centering on the wasteful overindulgence of investing such large amounts on digital art.

Nonetheless, Vignesh Sundaresan, who bought the piece, stated he has no regrets in making the purchase. Adding that, he was inspired to pay much more if need be.

In more justifying his choice, Sundaresan said NFTs represent the start of a brand-new age in digital art. For him, purchasing The First 5,000 Days, and at that cost, represented the shift into this new stage.

Nevertheless, Sundaresan yielded that it would take some time before the larger people acknowledges and accepts this.

“Sometimes these things take some time for everyone to recognize and understand. I’m OKAY with that. I had the chance to be part of this really crucial shift in how art has actually been perceived for centuries.”

The First 5,000 Days was the conclusion of everyday effort over 13 years to produce art work around the theme of societal contradictions in the technology age.

Perry hinted that her pieces would concentrate on “innovative and unforgettable moments” from her residency at Resorts World Casino, Las Vegas. However besides that, we’ll need to wait up until they drop to get a much better sense of what she implies.

NFT Sales Have Dried Up

Data from NonFungible.com reveals sales in every NFT classification have plunged. Might 3 marks the top, with $102 million worth of NFT sales made that day.

But today, June 30, total NFT sales stood at just $1.1 million – – that’s a 99% collapse in sales volume.

NFT sale history

Source: nonfungible.com Based upon this, all however the most persistent would yield that the NFT bubble has burst, for now a minimum of.

Some say the recent Bitcoin crash, as well as ecological issues, haven't assisted. However, Perry is vibrant to wish to release her range of NFTs in a post-hype duration.