In her new blog entry, the prominent hotel heiress, influencer and Djane Paris Hilton not only expresses her interest in non-fungible tokens (NFTs), but also shows that she has a good understanding of the technology and its possible applications.
I’m so excited about #NFTs! Here’s why I think #NFTs are the future & everything you need to know to get in the game! https://t.co/mZHqsVqn9Z
— Paris Hilton (@ParisHilton) April 7, 2021
In the relevant blog post called “I’m Excited About NFTs – You Should Be Too“Accordingly, Hilton explains why she herself is enthusiastic about NFTs, and why her readers should also agree to this tenor. Her enthusiasm seems to be well founded, as the entrepreneur states that she has become part of the NFT community herself through social media and through her collaboration with NFT collectors such as WhaleShark, Illestrater and the infamous German Megaupload founder Kim “Dotcom” Schmitz learned a lot about technology.
The influencer could become an important mouthpiece for NFTs because on Twitter Hilton even has 16.9 million followers. In turn, she represents her sense of business with her 19 different Product lines proof of which their perfume line alone has now grossed more than 2.5 billion US dollars. With regard to the “crypto trading cards”, Hilton now writes:
“I see NFTs, i.e. non-fungible tokens, as a future business model for artists and content creators. Blockchain technology enables artists to get more value for their work and to share it with their fans in real time. “
The celebrity, often referred to as the “world’s first influencer”, wants to weigh in on her reach in order to create awareness for NFTs and establish them in the mainstream.
For Hilton in particular, the corona crisis and the associated lockdown have made “the importance of digital worlds and NFTs” even more important, because isolation means that many people are increasingly dependent on them Online world dodged to maintain social connections and distract themselves with entertainment. In this regard, Paris sees great potential in NFTs:
“I realized how important NFTs can be in the online world. Whether digital art, digital fashion or digital branded items, all of this can be used with an avatar or in a virtual world, or exchanged for other things. […] For example, you can map and sell virtual real estate on NFTs. In the virtual world of Axie Infinity, someone bought nine digital properties for $ 1.5 million in cryptocurrencies. You can also buy digital cars. “
But the fashion world in real life could also benefit from the new technology, as designers present their fashion online and sell digital representations of it, because fewer clothes are bought than usual, especially in times of crisis. As Cointelegraph reported this week, Gucci is already rethinking the use of NFTs.
To illustrate the basic mode of operation of non-fungible tokens, Hilton cites trading cards as an example: “If you have a football trading card, you can create a crypto token for it on the blockchain that proves the authenticity and uniqueness of this trading card . You can then exchange your soccer ticket via the blockchain or sell it for other things. “
As a reminder: Non-fungible tokens are crypto tokens that, due to their conception, literally have no fungibility. Each token is therefore unique and cannot be duplicated, which is why NFTs are particularly suitable as vehicles for digital art and trading cards.
But this idea offers much greater potential than the simple digitization of collectibles, as Hilton also notes. The influencer thinks that NFTs could ensure that the art world becomes a democracy, because artists can interact directly with their audiences without the need for intermediary bodies such as galleries or brokers.
Accordingly, the remuneration would flow directly to the artists, and the artists would also be involved in subsequent resale among collectors. According to Hilton, this not only results in a fairer distribution of the funds, but also makes it so much easier for small artists to make money and participate in the market. This would, at the same time, significantly increase the diversity of the “voices” that have a say. Almost everyone would have the chance to express themselves through art.
In conclusion, the hotline worker points out that the conceivable application possibilities of the technology go much further than is already known:
“Some applications may change the whole world. What if we used NFTs as collateral for real things, or if we use them to organize our entire barter? “
The influencer had already sold her first NFT in August 2020, well before the hype about the crypto trading cards really kicked off in the new year. Her crypto artwork, a painting of her cat, sold for a whopping $ 17,000. Hilton donated all of the proceeds to charity.
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