Nobody buys Chris Brown’s NFT collection
Have you ever wanted to own an animated 3D rendering of Chris Brown that harnesses the energy of the meta verse? If so, you are probably one of the 297 people who have bought into the singer’s new Breezyverse NFT collection.
Launched on July 1, Breezyverse is a brutal example of celebrity adoption of NFTs. Like the popular NFT collections Bored Ape Yacht Club or Doodles, Breezyverse is a set of 10,000 NFTs. Each shares a similar template – in this case an animation of Chris Brown standing on rubble before posing heroically – but with different characteristics. Sometimes the moon is in the background, other times Chris Brown is made of solid gold.
But, unlike Brown’s album, the NFT collection has not been a hit. Hyped NFT collections are regularly sold out in less than an hour, many in less than a minute. After one week on sale, only 297 Breezyverse NFTs have been sold. That is about 3% of the total collection.
With crypto in the midst of a dramatic decline, it is a difficult time for new collections to thrive. But Chris Brown and the team behind Breezyverse have made it harder for themselves by pricing each NFT at 0.35 ether, or $ 440. New collections are usually launched at a price below 0.1 ether ($ 126). Since the market crash, which has caused the price of ether to fall 67% since the beginning of the year, “free mint” has been completed, with creators selling NFTs for free in hopes of making money by taking a 5- or 7 % cut in secondary sales.
Breezyverse is aimed at Brown fans, with the site promising exclusive holders tools such as free VIP concert tickets, meet and greetings and video calls with Brown. Unfortunately, the NFT market is mostly filled with people who are less interested in VIP concerts and more interested in turning NFTs for profit.
The Breezyverse team was contacted for comment but did not respond immediately.
It is a reminder of the delta between cryptocurrencies and the general public. Over $ 25 billion was spent on NFTs last year, a huge pile of cash that many celebrities and companies have unsuccessfully tried to obtain. Last year, WWE tried to sell 500 John Cena-themed NFTs, but only 37 of them were bought – which the actor and wrestler called a “catastrophic failure”. Ubisoft integrated NFTs into the Ghost Recon Breakpoint game, but players rejected it en masse.
Chris Brown is one of many musicians who work with the NFT area. Snoop Dogg and Eminem debuted in June a new music video with their Bored Ape Yacht Club NFT, while Pharrell Williams was named brand manager for Doodles NFT collection. Madonna teamed up with Beeple, the artist behind last year’s famous NFT sale of $ 69 million, for three pieces that sold for six figures each.
