Over the last few years, a new crypto trend known as "non-fungible tokens" (NFTs) has swept the world. Using NFTs, it is feasible to convert digital art and other collectibles into verifiable blockchain assets.
Numerous musicians and celebrities have discovered that investing in picture negatives from investors prepared to pay premium prices for these assets has proven to be a lucrative venture.
As with Bitcoin, the success of an NFT initiative is based on user support. Among many projects that triggered comments on social media, the popular “Let's Go Brandon” political slogan was the source of inspiration for a group of creators.
We do not know who launched this 10,000-piece collection on OpenSea, but this is not the first time a group of artists preferred to keep its anonymity in the NFT world. This article aims not to judge the initiative while sticking to the details shared by its authors.
The LGB Motto and NFTs
The creators of this new collection claim that their work represents the first time anyone has ever covered the LGB movement with so many NFTs in pixelized form. If we were to type “Let’s Go Brandon” on OpenSea, we would find several potential competitors.
However, the team’s claim appears to be correct in terms of sample numbers (very few collections reach 10,000 pieces) and style (the “pixeled” form has only recently begun to gain traction on the market).
As of today, nobody really knows what to expect regarding the NFTs that will compose the collection. The team has not yet released a public list of “Brandons” that it plans to sell, but the authors hinted at a potential announcement in the coming weeks.
We know for sure that the creators will let five days pass between each sale, which is probably a strategy to create a certain degree of hype for the project.
The Promise of a Recurring Income
One of Blockchain's most attractive characteristics is the promise of obtaining passive income from several coins in a wallet. This idea is at the very foundation of many recent trends (e.g., staking, yield farming, etc.), and NFTs have also joined this bandwagon.
In the case of the “Let’s Go Brandon” collection, its creators have promised the distribution of a revenue share from the project’s sale to anyone having at least four NFTs. These mechanisms generally aim at providing incentives to the market for buying and holding assets without joining the short-term speculation fever.
What Else Do We Know About this Collection?
The creators are being very cautious in disclosing details about the upcoming collection, but we have more information that readers may find helpful:
The project will enable the combination of two NFTs, with the subsequent creation of a new digital asset
Some particularly rare NFTs – portraying famous political personalities such as D. Trump or H. Clinton – will be part of special events.