Popular pop singer Katy Perry announced yesterday via her official Twitter account she intends to launch a collection of non-fungible tokens (NFTs) as well as that she has invested in blockchain company Theta Labs.
According to the press release shared by the company, which specializes in decentralized peer-to-peer video streaming using blockchain tech, the collaboration with the singer includes the sale of digital collectibles derived from her upcoming “Play” residency in Las Vegas this December.
Notably, the sale of NFTs will likely start in the fourth quarter of the year.
While the NFTs market has been in the spotlight recently due to the energy consumption of the Ethereum network, Theta uses a proof-of-stake model that aims to reduce energy consumption.
Katy Perry is not the only artist to launch her own NFTs. For example, boxer Floyd Mayweather launched a collection of NFTs at the end of May, and rapper Jay-Z has also shown his support, especially in the acquisition of his music streaming platform Tidal.