As the NFT space expands steadily, a growing number of celebrities are onboarding the NFT bandwagon. Following the December debut NFT collection, pop icon Katy Perry returns with a second collection on Theta Network. Moreover, the collection will reflect the singer's 2017-2018 Witness Tour. Accordingly, the "The Roar Package" got sold out in a record 95 minutes, making it one of the most successful NFT drops on Theta Network.
Katy Perry's first collection surpassed $1.2 million in primary sales and booked over $860,000 in secondary sales, with over 6,500 unique buyers. As per the ThetaDrop press release, we will witness more Katy Perry drops throughout the year.
As was the case with her first drop, The Witness Dice Collection promised to be more than digital art collectibles. These Theta NFTs will bridge the gap between the digital and physical world. Fans will stand a chance to own two iconic golden dice, which references Perry's "Roulette" performance on the Witness Tour.
The golden dice will be auctioned as one-of-one NFTs, like the "Golden Lion" stage prop from her 2015 global performance. In addition, the collection will also connect her fans with benefits such as exclusive merchandise and access to her nostalgia store.
Theta Labs Head of Partnerships Kyle Laffey revealed, "While many stars remain skeptical about Web3, Katy has been hands-on with her ThetaDrop NFTs and is super excited about the utility element with her unlockable "Nostalgia Store" coming soon,"
Both December and March collections are issued to celebrate Perry's "Play" residency at Resorts World Las Vegas. Surprisingly, the performer extended the event on popular demand, with performances on May 27 to June 11 and July 29 to August 13.
The ThetaDrop marketplace is inherently different from other NFT platforms as it was specially built for media and entertainment. Powered by the Theta protocol and a native blockchain, the minting cost and gas fees are significantly lower on the Theta Network. Built from the ground up on a proof-of-stake model, the Theta protocol uses a fraction of resources and electricity, making it greener than other alternatives. Similarly, the transaction speed is 100 times faster than on Ethereum.
Of course, Katy Perry is not the only music idol to drop NFT collectibles. In recent months, the hip-hop legend Snoop Dogg released his album exclusively on Gala Music and dropped an NFT collection in partnership with The Sandbox. Furthermore, Universal Music Group has partnered with Curio to bring fan tokens to celebrities. The company has also partnered with Billboards for its Flow blockchain-based ChartStars NFT collection.
Adopting NFTs in the music industry will be even more revolutionary than shifting from CDs to iTunes or from purchasing songs on iTunes to a streaming-based music world. The current developments are just scratching the surface of what's possible with NFTs in music and entertainment. NFTs are here to disrupt the music industry entirely, and we will be the lucky witnesses.