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For its twentieth season, American Idol is altering issues up by launching contestant-based digital buying and selling playing cards as non-fungible tokens (NFTs).
Followers who buy an American Idol NFT Card Pack for $99 will obtain a random contestant NFT card of one of many prime 14 contestants. For 5 weeks, as contestants get eradicated from the competitors, collectors who personal the required variety of contestant playing cards will earn distinctive rewards.
For the season’s last episode, collectors with the NFT of the winner can be rewarded with their very own unique Winner’s Ticket to Hollywood NFT, which might be redeemed for a bodily ticket to Hollywood shipped to their house. It’s a brand new means of monetizing a present that for essentially the most half depends on promoting round its reveals for income.
However NFTs are a flashpoint, as many have criticized that NFTs don’t have actual worth or are a part of a scammy, environmentally damaging, or low-quality content material cesspool. However corporations are experimenting with NFTs, which authenticate the individuality of digital objects, as a brand new method to get followers engaged in communities. NFTs have been looking for a mass viewers, and it will likely be attention-grabbing to see how die-hard American Idol followers will react.
Throughout the first week of rewards on April 25, collectors with an NFT of solely one of many remaining contestants will win an American Idol twentieth Anniversary Animated Emblem NFT. Throughout week two, collectors with NFTs of two remaining contestants will win 300 $TDROP, which can be deposited into their ThetaDrop account.
“If you’re collaborating with internationally-renowned leisure manufacturers, it doesn’t get a lot larger than American Idol,” mentioned Mitch Liu, CEO of Theta Labs, in an announcement. “With our Theta-powered real-time predictive NFTs, followers will be capable of transcend voting for the contestants and turn out to be a choose themselves – celebrating with their favorites and accumulating rewards as they transfer via every qualifying spherical to the finals.”
Within the third week of rewards, collectors which have 4 contestant NFTs of contestants remaining within the competitors will earn VIP Bronze advantages for his or her ThetaDrop account.
Theta Community is the main blockchain for media and leisure, and American Idol is the newest in an extended line-up of top-tier companions. Theta has beforehand collaborated on NFTs with American Idol choose and pop icon Katy Perry; soulstress Dionne Warwick; the Samsung Galaxy S22 flagship launch; World Poker Tour; and America’s longest-running TV recreation present ‘The Worth is Proper’ together with many different main manufacturers.
“At American Idol, we’re continuously difficult ourselves to be on the forefront of innovation,” mentioned Megan Michaels Wolflick, the sequence’ showrunner, in an announcement. “With interactive NFT buying and selling playing cards celebrating our twentieth season, followers will be capable of immerse themselves much more into the Idol expertise, as they acquire their favourite contestants’ playing cards, and observe their progress all through the competitors.”
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