Saturday, September 23, 2023

American Idol to Roll Out NFTs


Collectors will receive an NFT depicting one of the top-14 competitors for $99 when they purchase the American Idol NFT bundle.

In addition, to celebrate its 20th season and two decades on American television, American Idol will issue non-fungible tokens (NFTs).

Contestant-Based Trading Cards

On April 14, the program released a press release. It stated that the NFTs will be issued in the form of contestant-based trading cards. On this project, American Idol collaborated with Theta Labs.

Moreover, collectors and fans of the show will be able to purchase the American Idol NFT Card Pack on Theta network. It is the eco-friendly and low-cost marketplace, ThetaDrop, according to the press release. Collectors will receive an NFT card depicting one of the top-14 contestants for $99 when they purchase the pack.

Mitch Liu, co-founder and CEO of Theta Labs, issued a statement. It doesn’t get much bigger than American Idol, he remarked, when it comes to collaborating with internationally known entertainment businesses.

He noted that Theta-powered real-time predictive NFTs would allow fans to do more than only vote for finalists. It would also to act as judges. As they go through each qualifying round to the finals, the NFTs will allow them to rejoice with their favorite participants. They will be able to collect awards, according to Liu.

The Ultimate Prize

Collectors who hold a certain number of competitor cards will get one-of-a-kind gifts. This will happen as participants eliminate throughout the course of the five-week season.

Furthermore, on April 25, the first week of incentives will begin. An American Idol 20th Anniversary Animated Logo NFT will be given to collectors who have an NFT of one of the surviving participants.

Collectors with two NFTs of the remaining competitors will receive $300 in $TDROP in the second week of prizes. This money will go into their ThetaDrop accounts.

Collectors who hold four NFTs of candidates who have made it through previous elimination rounds gain VIP Bronze bonuses for their ThetaDrop accounts. This happens during the third week.

During the season’s final episode, the collector who has the winner’s NFT will receive a unique Winner’s Ticket to Hollywood NFT. The customer can exchange their NFT for a genuine ticket to Hollywood. It will deliver to their home by American Idol.

Debut in the NFT World

Megan Michaels Wolflick, the show’s Showrunner and Executive Producer, spoke about American Idol’s debut into the NFT world. She stated that American Idol is continually challenging itself to remain on the cutting edge of innovation.

Fans will be able to immerse themselves even further in the Idol experience with interactive NFT trading cards marking their 20th season. This occurs as kids gather the cards of their favorite competitors and track their progress throughout the competition.

Katy Perry is a judge on American Idol and a music icon. She has teamed with Theta Labs to release her NFTs in June 2021. Along with talent agency Creative Artists Agency (CAA), one of Theta’s enterprise validators, she received a minority stake in Theta Labs as part of this arrangement.

Mary Santos
Mary Santos
Mary Santos has a degree in economics and after a successful career as an investment analyst, she found an interest in Cryptocurrency. Mary enjoys finding the latest scoop on crypto news.

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