We use cookies on this website. By continuing to use this site without changing your cookie settings, you agree that you are happy to accept our privacy policy and for us to access our cookies on your device.
Transcript/ScriptUSAGM Share
((PLAYBOOK SLUG: LogOn: Celebrity NFTs (TV, R)
HEADLINE: Companies and Celebrities Jump Into the NFT Craze
TEASER: Nonfungible tokens are getting a big lift from those new to the emerging technology. But is it just another marketing ploy?
PUBLISHED AT: Tuesday, 04/12/2022 at: 7:43 am
BYLINE: Tina Trinh
CONTRIBUTOR:
DATELINE: New York
VIDEOGRAPHER: Tina Trinh
VIDEO EDITOR: Tina Trinh
SCRIPT EDITORS: Michelle Quinn, Reifenrath
VIDEO SOURCE (S): VOA original, AP, Reuters Clinique, OpenSea, storyblocks
PLATFORMS (mark with X): WEB __ TV _X_ RADIO _X_
TRT: 1:59
VID APPROVED BY: MAS
TYPE: TVPKG
EDITOR NOTES: ))
((INTRO)) [[The world of nonfungible tokens, or NFTs is getting a boost from companies and celebrities, who are making the digital products. But the nascent technology comes with risks. Tina Trinh reports.]]
((NARRATOR)) ((Source: AP))
What do a basketball legend, a socialite and
((Source: Reuters))
a fast-food chain have in common?
((End Courtesy))
((Source: Storyblocks))
They’re all advocates for nonfungible tokens, or NFTs — those one-of-a-kind digital assets whose authenticity is certified by decentralized peer-to-peer networks known as blockchains.
[[FOR RADIO: Chad Hugghins is the marketing lead at Polygon Studios, a company that helps launch NFTs.]]
((Chad Hugghins, Polygon Studios))
“We’re definitely in a very crazy bull market right now. The space is exploding.”
((NARRATOR))
((Mandatory CG: Autograph))
NFTs are attracting big names in the worlds of sports,
((Mandatory CG: Crypto.com / Snoop Dogg))
entertainment, music and
((Mandatory CG: UNXD / Dolce & Gabbana))
fashion … but is it all just a marketing ploy?
((NARRATOR)) ((Mandatory CG: Rarible / Taco Bell))
NFT projects typically involve releases, or “drops,” of limited-edition digital art or virtual goods.
((Mandatory CG: Clinique))
For companies like Clinique, it's a way to engage and attract new customers.
Last year, Topps, the longtime publisher of baseball trading cards,
((Mandatory CG: The Topps Company))
used the Wax blockchain to release more than 70,000 packs of their cards as NFTs.
[[FOR RADIO: William Quigley is the co-founder of Wax]]
((William Quigley, Wax Blockchain))
“We thought it would take about 30 days to sell them, and they sold out in about 24 hours.”
((NARRATOR))
Some say their surge in popularity is due partly to the technology becoming easier for everyone to use.
At Metaplex Studios, an online marketplace,
((Mandatory CG: Metaplex))
artists can set up free storefronts to sell their NFTs.
[[FOR RADIO: Jonathan Choi is with Metaplex Studios]]
((Jonathan Choi, Metaplex Studios))
“There is a learning curve, yes, but even compared to a month ago,
there are now companies that are looking to improve the user experience.”
But welcoming more NFT creators can also attract bad actors. OpenSea, another online marketplace, recently discovered that over 80 percent of the NFTs listed on its site were plagiarized works, fakes or spam.
[[FOR RADIO: Elena Garidis (“EH-le-nuh guh-REE-des”) is chief financial officer at Defy Trends]]
((Elena Garidis, Defy Trends))
“It’s important to do your research. But what does that entail for a normal user who has a daytime job, friends and hobbies?”
((NARRATOR))
Analytics and research sites like Elena Garidis’ Defy Trends are helping consumers
((Mandatory CG: Defy Trends))
navigate the world of NFTs.
Perhaps a greater need going forward,
((End Courtesy))
as celebrity partnerships leave many with
((Mandatory CG: Crypto.com / Snoop Dogg))
stars in their eyes.
((Tina Trinh, VOA News))
NewsML Media TopicsArts, Culture, Entertainment and Media
NetworkVOA
Embargo DateApril 12, 2022 08:27 EDT
Brand / Language ServiceVoice of America - English
