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Cryptocurrency exchange Crypto.com is getting in on the recent non-fungible token (NFT) crypto art phenomenon, today announcing plans to launch a platform for such crypto collectibles featuring exclusive drops from an array of well-known artists, musicians, and brands.
Simply called Crypto.com/NFT—and located at that address, naturally—the new platform will debut this Friday, March 26, allowing fans to purchase verifiably scarce and blockchain-authenticated digital collectibles.
Pop culture artist Kode “BossLogic” Abdo, who has worked with Marvel and Disney and has a sizable social media following, will be the subject of the first drop on Friday. His “Higher Ground” NFT collection has an aquatic theme, and it follows the release of a different BossLogic NFT collection on competing platform Ethernity Chain.
Newly-returning Formula 1 racing team Aston Martin Cognizant will also launch an NFT series highlighting its first moments back in the racing league, with Crypto.com promising further “athletes, teams, and leagues” on the horizon. Crypto.com’s list of NFT artists includes prominent musicians such as Snoop Dogg, Boy George, and Lionel Richie (with crypto artist Klarens Malluta), as well as crypto artist Mr. Brainwash and book publisher OPUS.
“I love metaphors and mystery and crypto sound[s] like klepto so that makes me a crypto maniac,” said Boy George, in a release. “Art is like a partner? Can you live with it? Digital art is a new emotion and it can be very musical. I'm mixing all of the things I do together, music, art, fashion, poetry and anything else it leads to. I have stopped refusing to be influenced.”
Crypto.com’s move into NFTs comes following a surge in demand and value for crypto art and collectibles, with the top three NFT exchanges reporting $342 million in trading volume in February alone. That’s more than in all of 2020 combined.
The boom has been highlighted by NBA Top Shot and Beeple’s sale of a single $69 million piece of art via Christie’s auction, and has drawn in a wide array of celebrities and brands including Taco Bell, Charmin, John Cleese, TIME Magazine, and NFL star Rob Gronkowski.
The exchange has also made headlines in recent weeks for high-profile sports marketing deals, including one with the aforementioned Aston Martin Cognizant racing team. Crypto.com also announced a sponsorship of the NHL’s Montreal Canadiens, with its logo appearing on the ice at the team’s Bell Centre arena. Presumably these marketing deals could lead to more NFT collabs down the road. The company did not immediately respond to a request for comment.
Joe Conyers III, most recently the Chief Strategy Officer at Downtown Music Holdings, has joined Crypto.com as its EVP, Global Head of NFTs.
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