According to Weezer, the “OK Crypto” NFTs collection features digital trading cards. They represent each song on the album and include different rarities. The crypto album will launch on April 28.
The US rock band Weezer has decided to join those musicians who use the advantages of the crypto industry and announced the release of “OK Crypto” – a limited edition of NFTs collectibles. To make the set of digital collectibles unique, Weezer chose the WAX blockchain instead of Ethereum, unlike other musicians with similar albums.
— weezer (@Weezer) April 22, 2021
According to Weezer, the “OK Crypto” NFTs collection features digital trading cards. They represent each song on the album and include different rarities. There will be 12 core designs, each based on a different track on the album. The collection was inspired by the band’s album “OK Human”. It is the fourteenth studio album by Weezer that utilizes exclusively analog equipment and a 38-piece orchestra.
Starting from April 28, the crypto album will launch. Each NFT will have several variants at different rarity levels, with a single gold “Ultra Rare” version available for redeeming to receive the physical toy it’s based on. Besides, the collection will consist of packs with 10 NFTs each, their price will make up $20, as well as packs of 25 NFTs for $40.
As Weezer has explained, they chose the WAX blockchain because it does not require significant distributed computing power to operate and does not have high gas prices. As a result, there is no environmental impact of its blockchain, unlike in the case of Ethereum.
“We want to make our first experience on the blockchain fun and accessible to everyone. You’ll be able to purchase using your credit card and it won’t include any of the gas fees (a.k.a. service fees) you may have heard about. WAX also uses 1% of the amount of energy that [Ethereum] and others use, so there are no issues there either. There are no auctions […] and you can use real money from a credit card, not Bitcoin. Very simple.”
Surging Demand for NFTs
In 2021, NFTs have seen incredible popularity. In the first three months of this year, NFTs’ transaction volume has surpassed $1.5 billion. Many popular musicians turned to NFTs to monetize their fan bases. Among them are such names as The Weeknd, Grimes, Snoop Dogg, Mike Shinoda, Mick Jagger, Gorillaz, rock band Kings of Leon, and others.
For example, The Weeknd recently sold a collection of new music and limited edition art in a non-fungible token ‘drop’. The musician raised over $2 million in his NFTs auction.
Recently, we also reported about the NFT collaboration between Snoop Dogg and the artist behind the 2011 Nyan Cat meme Chris Torres. The partnership produced an NFT product dubbed “Nyan Dogg” in the OpenSea Market. It obtained a 14.2 Ethereum equivalent to about $33,000 of a 1 on 1 auction.
Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.