6ix9ine has teamed up with tech company and NFT marketplace Bondly for the venture – you can find further information here.
As NME explained in a recent blog, NFTs “act like digital gold bars, rare trading cards or paintings kept in safe storage – they’re kept on the blockchain (basically a Cloud for financial assets, but where everyone with an account keeps a note of what you own) in your name but you can only sell or trade them as collectibles.”
Tekashi 6ix9ine CREDIT: Michael Campanella/Redferns
Meanwhile, Calvin Harris has praised NFTs – saying they have the potential to “completely revolutionise the music industry”. The Scottish producer echoed comments made by Lohan, who released her new single ‘Lullaby’ as an NFT after hailing the technology as “a great way to bridge the gap between the consumer and artist”.
However, Nils Frahm recently said that he believes NFTs to be “the most disgusting thing on the planet right now”. The cryptocurrency has also been criticised over its apparent negative impact on climate change, which has been addressed by Gorrilaz fans after the band unveiled plans for an NFT to mark the 20th anniversary of their debut album.
In other news, it was reported last month that Tekashi 6ix9ine was being sued for copyright infringement after a production group claimed that he stole the beat for his hit single ‘GOOBA’