The American YouTuber and Boxer, Logan Paul has stepped into the world of NFTs by dropping ‘Original #1’ of his ‘99 Originals’ NFT collection which he refers to as his “passion project”. The collection features 99 original photographs taken by the social media star with a polaroid camera.
The first NFT is a picture featuring Mike Winkelmann aka Beeple, who is described as a “digital art pioneer” on the collection’s auction website. The NFT shows Beeple standing in front of his most “ambitious piece” the ‘HUMAN ONE’ at Christie’s Auction House in NYC.
The website reveals that all the proceedings from the first drop will go towards the Ukraine war relief effort. The NFT is on auction for 24 hours and the buyers will receive perks like utilities for specific Originals, ability to redeem the physical 1/1 Original upon completion of the project, authenticated & slabbed by PSA and much more.
The NFT collection will have a DAO and each “Original” entitles the owner to have a seat in the DAO along with voting rights in which 1 Original is equivalent to 1 vote.
99 Originals has been in making for more than 6 months and it started right after ‘The Maverick’ went the distance with boxing legend Floyd Mayweather. Paul launched the trailer for 99 Originals and announced the release date for 20, April 2022. However, it was delayed and now the drop occurred when the NFT market is in a slump.
Also read: NFT Artist Beeple’s ‘Human One’ Art Sold for $28.9 Million
Paul took to twitter to share his thoughts on the release of 99 Originals in the bear market. He said “Launched in a horrific bear market, legitimately probably the worst time to release an NFT project but I couldn’t delay again & I have unwavering conviction in this project”.
Paul seems very confident that this drop will change the current situation of the market. However it is uncertain how the NFT market will be affected by the drop of “99 Originals”.
