NFT
Later this month, fans of The Rolling Stones will be able to purchase one of 40 unique and vintage photos. Each photo will have a non-fungible token, or NFT, linked to the physical collectible which serves as a certificate of ownership.
Just don’t call them NFTs.
The companies managing the drop, OneOf and Globe Entertainment, are using the term Digital Certificate of Authenticity, or DCOA, as their preferred nomenclature. The collection of photos, which come in slide form and are “encased” in transparent plastic frames, will feature “historical moments captured from various tours over the 1960s-1990s,” including some images of Mick Jagger and Tina Turner.
The trend of companies shying away from calling digital assets or tokens with utility NFTs in favor of more generic terminology like digital collectibles appears to be gaining momentum, especially when geared towards mainstream consumers. A recent promotion for a Nicolas Cage vampire movie, Fox Entertainment using tokens as loyalty passes for fans of its show “Masked Singer,” and Reddit’s avatars are all examples of NFTs being issued without using the term itself.
NFTs have come to carry a negative connotation for many as scandal and major price deterioration have plagued the digital-assets market, causing some people to sour on the once hot space.
The limited edition The Rolling Stones photo slides and NFTs collection will be available next week and cost anywhere from $199 to $300. Each slide and photo are considered one of one collectors’ items.
