10/04/2023 The Rolling Stones Shy Away From Using the Term "NFTs" in New Project

The negative publicity around NFTs and crypto have galvanized some to drop the word altogether from their marketing efforts.

The Rolling Stones Shy Away From Using the Term "NFTs" in New Project

In April, the British rock band The Rolling Stones will unveil 40 photos linked to NFTs, or non-fungible tokens. These will largely focus on “historical moments captured from various tours over the 1960s-1990s” and be priced between $199 to $300.

There’s just one catch: none of the NFTs will be officially referred to as digital collectibles or NFTs. Instead, fans can expect to receive a “Digital Certificate of Authenticity,” otherwise known as a DCOA.

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The NFTs will be put out byGlobe Entertainment and Media, and the Web3 company OneOf.

As NFTs grow in popularity across the media and entertainment industries, there is a growing push to drop the NFT label altogether because of high-profile scandals, rug pulls, and scams associated with the crypto and digital collectibles industry.

Last month, the marketing for Hollywood’s latest vampire movie starring Nicolas Cage –Renfield– featured NFTs without the term "NFT" – a trend that is likely to accelerate as more people link the nascent industry with cons and swindles.

Arts

https://www.thestreet.com/crypto/news/the-rolling-stones-nfts

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