NFT Tech Sets Up Elvis Legacy Council, To Release NFT Limited Edition
NFT Technologies, a leading tech firm, has introduced a governing council, the Elvis Legacy Council. This council would help to preserve the legacy of famous singer, Elvis Presley, using digital products, NFTs, and metaverse experiences.
NFT Tech To Preserve Elvis Presley’s Legacy Using Digital Products
NFT Tech is a form popular for commercializing decentralized ownership, the metaverse, and NFTs for public markets. The newly launched Elvis Legacy Council aims to preserve the legacy of “The King of Rock and Roll.”
Although the singer died several years ago, this new project seeks to improve fan engagement using digital products like NFTs and digital collectibles. Adam De Cata, the CEO of NFT Tech, said the new initiative would give a new voice to the fans of the late singer.
The committee has lots of projects that will launch under the new council. They include a limited NFT collection, certified digital collectibles and wears immersive metaverse experiences, Memphis experiences, first-hand Graceland tours, and lots more.
Meanwhile, the new council will be responsible for making key decisions for the artist. They will have decision-making powers just like DAOs.
The council’s founding members can propose content for the Presley project. They will decide on the future of Presley’s digital estate in the real and virtual world.
The Legacy IP Market For Dead Celebrities
This will be a rare opportunity for most fans as they see lost footage and memorabilia of the late singer. The tech firm believes this would revive fans’ interest in the singer.
It would also showcase Presley’s work in digital form to the new generation. Fans will behold never-before-seen contents of the late singer.
Additionally, it will allow fans to create proposals and decide through votes on the future of Presley. NFT Tech has a deal with Elvis Presley Enterprises.
This right allows the tech company to display licensed content of the singer. Also, it gives the same rights to Sony Music, Warner Bros. Pictures, Universal Music Publishing Group, etc.
According to reports, the legacy IP market for dead celebrities has a valuation of more than $2 billion yearly. In 2021, Presley’s estate generated a revenue of $30 million. This was before Warner Bros released a film in celebration of the singer.
Saving The Legacy Of Dead Celebrities On The Blockchain
Meanwhile, De Cata highlighted that several celebrities leave a huge fanbase behind without new content for them to engage with. As a result, this has led to a gradual decline in fan engagement over the years.
However, the NFT Tech CEO believes moving these celebrities to Web3 can ensure their legacy lives longer. According to De Cata, the tech company is moving massively into this industry.
Also, it has plans to work with several entertainment icons. This would allow them to save their legacy on the blockchain where future generations can interact with them.