Lindsay Lohan's NFT (non-fungible token) electronic music comeback single sold for $85,484.09. Lohan's new song is called "Lullaby," and it features the actress singing over a beat produced by Manuel Riva. The aforementioned song is the first NFT by a woman to be sold on FansForever, which is a marketplace for exclusive celebrity NFTs. Tron (TRX) cryptocurrency is used to purchase an NFT like Lohan's, which features a butterfly flapping its wings in unison with the former Disney actress' eyelids to the beat of "Lullaby."
The description for "Lullaby" helped to sell the NFT. "Coming straight out from a dream - 'Lullaby' is an exclusive collaboration between Lindsay Lohan and DJ Manuel Riva and is here to send you on a trip down memory lane and experience nostalgia all over again as you glance through the visuals, be prepared to get lost in it for a never before experience," reads the description. While a new Lindsay Lohan single might not have gotten a whole lot of publicity on its own, the NFT tactic has clearly worked in her favor.
Lindsay Lohan says she has "fully invested herself in dropping this song as a NFT with a sole objective of delivering a message of empowerment." The NFT was expected to gain some attention, but there are not a whole lot of people who expected it to sell for nearly $100K. "It's only a matter of time till everyone in Hollywood and beyond gets involved," Lohan said in a recent interview with Forbes. "Maybe we will see the tokenization of movies, and of how artists are paid for their films, music and art. I see a future where crypto, NFTs and blockchain will be the norm, rather than the exception."
NFT has become a bit controversial over the past few months, but Lindsay Lohan thinks that world of art with be revolutionized by it. "Tokenization through NFTs can help content creators and musicians actually own the property rights for what they create, and allow them to profit accordingly," she said. After pioneering electronic group Daft Punk called it quits earlier this year, Lohan sold an NFT featuring the duo for $15,000. The actress has also been hyping Bitcoin on social media to her 8.4 million followers.
In February alone, over $300 million worth of NFTs were traded in the open market. Controversial artist Beeple sold one of his digital artwork NFTs for $69 million, which created a massive social media buzz. Twitter CEO Jack Dorsey also got in on the action, selling his "first tweet NFT" for $2.5 million. Some have criticized Lindsay Lohan for jumping on the bandwagon, while others have praised her for being an early celebrity adopter for a platform that has the potential to make a lot of money over the next decade. You can check out the tweet announcing the winning bid for the "Lullaby" NFT above.