Speaking exclusively to Head of PR at ChangeNOW Mike Ermolaev, 17-time Billboard Global Top 10 rapper French Montana has made a big announcement on entering the cryptocurrency space – a move that will revolutionize the music, the Web 3, and the NFT ecosystems. French Montana previously revealed at Miami NFT Week 2022 that his upcoming album “Montega” will come with a series of digital and physical experiences that will tie the metaverse to the ‘real’ world.
French Montana spoke with Mike Ermolaev about the potential of NFTs and why the rapper, who already has an established career in the music industry, decided to venture into the world of cryptocurrencies and the metaverse.
During the interview, French Montana expanded upon his vision for the French Family Membership NFTs collection, the brand new NFTs community/family of rap star French Montana. It will include 1,000 NFTs in the “Proof-of-Collection” style, which means those who own the collection would receive exclusive and privileged “types of experiences and possibilities, exploring the full potential of the physical and digital worlds.”
“The evolution of the cryptocurrency and NFT market has shown that NFTs that do not have a community proposal quickly lose their value as they are not based on real benefits but only on FUD and speculation. Furthermore, offering APYs with extreme profitability, as happened with UST/LUNA, turned out to be a failed proposition that only makes users lose their money,” the rapper said.
The New Era of NFTs
“The market experience has shown that projects based on memes and “Come Get Rich” promotions are nothing more than projects whose future is uncertain and often end up harming investors. By putting technology first, these projects have become highly reliant on royalties and hype to become a successful business. These events show us that success lies in focusing on projects that combine technology and real use cases,” the artist explained.
According to French Montana, the true value of non-fungible tokens (NFTs) is not that they are an immutable digital representation of audiovisual items. “It’s not just animated gifs and jpgs that are hashed on the blockchain, or items intended for speculation and FUD. The true value of NFTs lies in building a new digital identity and a new way of connecting communities through physical and digital experiences on a Web3.0 chain.”
Montana said that prior to the pandemic he had heard about Bitcoin (CRYPTO: BTC) and cryptocurrencies but never paid much attention to them. The pandemic, however, brought worldwide attention to the subject, which prompted him to read and seek to understand more about it.
It was then that he concluded it wasn’t just about digital currencies, but also about a new form of ‘contract’ that could give artists and the community back their data and ownership rights.
“When I started out, DVDs were …
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