NFTs are Reshaping the Dynamics - From Real Estate Sales to Broadway Playbills
Changing real estate business with NFT artwork and offering Broadway memorabilia as NFTs
NFTs in the Real Estate Market
In a world where creativity and art are intertwined in the fabric of our lives, it’s no surprise that its inclusion in our primary residences is a natural progression. For example, mega-mansion, Palazzo di Vista in Bel Air, has been listed on the market for $87.77 million; the price tag includes gorgeous contemporary architecture and jaw-dropping views of the city, but the most exciting and unique feature of this listing, is its NFT art worth $7 million that comes with the purchase.
The NFT gallery has been curated by MDP Art Curators, and showcases works by Ghost Girl, BigHead Music Producer, Andy Moses, Shane Guffogg, and Jimi Gleason. The pool is an additional portion on the NFT art gallery which draws inspiration from the light shows at Disneyland; “a 3D laser projector casts light on a surface of about 1,650 square feet (153 square meters) above the pool. It can be synced to the music from the DJ booth or whatever guests are viewing in the indoor NFT art gallery, with several large displays and comfy seating.”
Many realtors believe that by adding NFTs to a home’s features, they can add another level of fun and curiosity, while also boosting marketing campaign possibilities. The advent of digital art has shifted the gears in the creative world. And it's no surprise that developers and brokers are seeking new and dynamic ways to sell upscale real estate, like accepting cryptocurrency as payment and showcasing blockchain-verified digital art.
According to Compass’ Aaron Kirman, "The art world is changing so fast in this digital world, so we thought, 'Why not incorporate it into the house world?" And he is not wrong; in recent years, NFT art and cryptocurrency have been shaking up the world with their unconventional presence.
A big supporter of NFTs, developer Phillip Braunstein, president of Colossal Properties, sees the potential in integrating NFTs into real estate portfolios. He remarks, “NFT art is interesting, because in a sense it’s more durable. You can’t really have any soilage or damage from sunlight. And it’s easy to take down and remove.” "I know some friends where the majority of their [art] collection is in storage because they simply don't have wall space, but with the NFT art, you could have thousands of art pieces that you could rotate in and out using your phone."
Colossal Properties has listed a residence in the Hollywood Hills for $18 million and displays Braunstein's impressive set of four Gummy Bear NFT works by the artist WhIsBe, said to be valued at $1 million.
In recent weeks we have written about the explosion of collectibles such as the Crypto Punks and the Bored Ape Yacht Club with pricing reaching astronomical heights. We have also highlighted real estate that has been marketed with an NFT image of the home as part of its offering. It seems that the real estate market is embracing the NFT world and hoping to attract interest by using them to stir interest and add new dimensions to home buying.
NFTs Starting Out on Broadway
Artworks have inspired some of greatest productions in the entertainment industry, and this time NFT art is getting its big break. Seaview, the production and media company that have brought shows like Slave Play, Sea Wall/A Life and Ratatouille: The TikTok Musical has teamed up with Broadway social media agency marathon Digital with NFT platform Nifty’s to Broadway-themed collectibles that are inspired by popular and classic hits.
The new venture will be called Bway.io and will launch this fall with a drop built around Playbill covers, some never before seen and Broadway related memorabilia. It will go live on Nifty's this fall and is timed perfectly to coincide with the reopening of Broadway. In the coming weeks, Bway.io will have further details on upcoming developments, which will be announced on Nifty.
Nifty's CEO and co-founder, Jeff Marsilio, stated, "We are thrilled to begin working with bway.io to bring the magic of Broadway to NFTs. Nifty's was designed to enable anyone to discover new digital experiences, and we know that the iconic content from bway.io and its partners will reignite memories and draw the next generation of fans to engage with the shows they love."
Alex Birsh, Chief Operating Officer and Vice President of Playbill, Inc., said in a statement, “For over 137 years, Playbills have been, and continue to be, collected as treasured keepsakes by many millions of passionate theatergoers from all over the world. We are extremely excited to venture into the digital collectible space to discover the extraordinary opportunities we foresee in this arena. We look forward to creating truly memorable and unique digital keepsakes that fans will be eager to add to their collections.”
It will be exciting to see how this new venture turns out. If everything goes right, Bway.io will be providing NFTs of selected Playbill covers in the future, including missing or rare covers for shows that never made it to Broadway and covers that were scrapped due to printing errors or problems.
Palm will issue Bway.io NFTs on its new token-powered blockchain connected to Ethereum, an open-source blockchain. The primary purpose of doing so is to allow users to mint, curate, and sell digital memorabilia and collectibles associated with Broadway and the Broadway industry.
Stay Curious!
~NFT Art Source
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