Big news for digital assets and innovation. Two major announcements from the entertainment industry this past weekend, demonstrating the rapid growth of digital collectibles.
Boy George, a popular musical artist from the 80s known for eccentricities, has brought NFTs (Non-Fungible Tokens) into pop culture. His limited edition collectible of music and art is already sold out, but it won’t be very long before other artists do the same thing. Like other collectibles, they’ll have personal appeal, increase in value and need to be passed on as part of an estate plan’s digital assets.
Less than 24 hours after Boy George’s announcement, Bruno Mars announced an Icon Series Emote exclusive for Fortnite, released April 2. The exclusive Icon Series Emote, a cosmetic item available in the game’s shop, lets players express themselves on the battle playing field.
This is another digital asset with potential for future collectability that will increase in value and trade appeal. Bruno Mars isn’t the only artist to build their brand this way–other award-winning, popular artists like BTS, Marshmallow, Dua Lipa and Travis Scott, have also added to Fortnite’s values.
As today’s inventors continue to create and release technology innovations, we continue to live in a world that embraces and adds to our digital asset portfolio. And the generations behind us will expect us to prepare for them. Physical property will always exist, but the different types of digital property are advancing swiftly. We all need to be prepared.