Doja Cat is venturing into the world of cryptocurrency collectibles with her own NFT marketplace called Juicy Drops. The marketplace was created as part of a collaboration with NFT firm Intellectable Holdings and on the platform, the artist is releasing her first NFT collection. The non-fungible tokens are said to have been inspired by the artist's performance at the Grammy Awards, in six colors with different quantities and price points available.
Like Doja Cat, many artists, musicians and digital content creators are turning to blockchain technology to sell their work and gain control of it online. As the singer says, "I’m helping to launch my NFT company so that I can actually own and control my art. My ownership also allows me to direct how we can give back to causes I truly believe in."
Singer-Created NFT Marketplaces
Doja Cat is Releasing a Digital Asset Collection on Juicy Drops
Trend Themes
1. NFT Marketplaces - As more artists and musicians turn to blockchain technology to sell their work through NFT marketplaces, there are opportunities for disruptive innovation in digital ownership and distribution platforms.
2. Digital Art Collectibles - The rise of NFTs and digital art collectibles creates opportunities to research and develop new digital art formats for the purpose of ownership and control.
3. Blockchain-based Sales - There is potential disruption in the way artists and creators can sell their work through blockchain-based platforms, which offer transparency and greater control over the distribution of their assets.
Industry Implications
1. Art Market - The art market industry should embrace digital disruption, specifically NFT marketplaces, as it offers new revenue streams for artists and musicians.
2. Music Industry - The music industry can benefit from blockchain-based sales opportunities created by NFTs, by providing greater transparency to musicians and creating new income opportunities.
3. Blockchain Technology - Developing new blockchain technologies and platforms can disrupt the way digital assets can be owned, licensed, and sold.