Select items of Beatles memorabilia will be sold as non-fungible tokens (NFTs), as part of a new digital collection.
John Lennon’s son Julian announced he will auction the items, including outfits and handwritten notes, as part of Lennon Connection: The NFT Collection. The NFTs will be sold as audio-visual collectibles that will include narration by Lennon alongside images of the items.
“Own a piece of music history as Julian Lennon unveils his inaugural digital exhibition, with his private collection of John Lennon and Beatles memorabilia,” according to a statement on the official site.
In addition to several guitars, Lennon’s collection featured other items that had belonged to his father. These include iconic clothes such as the Afghan Coat worn during the Magical Mystery Tour era and the black cape featured on the cover of Help! Also included in the auction as an NFT are McCartney’s rare, handwritten notes for the 1968 single ‘Hey Jude.’
“Through this NFT collection, I’m able to grant exclusive access to special items that I cherish and carry on the legacy of my father in a new way,” Lennon told Rolling Stone. Bidding and registration for the auction have already begun and will run until Feb 7. Sold in partnership with Lennon’s auction house and Yellow Heart NFT, part of the proceeds will go to Lennon’s White Feather Foundation.
NFTs still raging in 2022
Despite the recent slump for cryptocurrencies, NFTs seem to be primed for a prosperous new year. Already in 2022, their profile has been raised by Twitter integrating them into its UI, much to the irritation of Elon Musk. OpenSea, the largest NFTs marketplace, has already seen sales of $3.5 billion so far in January 2022.
However, the burgeoning popularity does not come without accompanying risks. On Jan 24, hackers stole at least $1.3 million in the form of NFTs after exploiting a bug on OpenSea. The bug allowed the hackers to purchase high-priced NFTs for small sums, which they then resold at much higher prices. At least eight high-value NFTs were affected.