Beatles Memorabilia to be Auctioned as NFTs
- The “Lennon Connection: The NFT Collection” auction will take place on NFT marketplace YellowHeart on 7 February.
- The NFT items will be in the form of audio-visual collectibles, each accompanies with a narration by Julian Lennon.
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The eldest son of John Lennon will be selling some rare pieces of Beatles memorabilia from his collection as a set of non-fungible tokens (NFTs), Julian Lennon said on Twitter on 24 January.
The pieces from the “Lennon Connection: The NFT Collection” have already been put up for bids on NFT marketplace YellowHeart, which will commence the sale on 7 February. The collection includes items such as John Lennon’s coat from the “Magical Mystery Tour”, his cape from “Help!”, and three of guitars. The centerpiece of the auction will be some handwritten notes by Paul McCartney regarding the Beatles’ “Hey Jude” song.
After the auction has been completed, Julian will keep the original physical items, while the buyers receives the ownership rights of the unique NFTs in the collection. The NFTs will be in the form of audio-visual collectibles, each accompanies with a narration by Julian. The NFT auction will also be conducted in collaboration with Julien’s Auctions, which have previously sold Beatles memorabilia for millions of dollars in auctions. A portion of the sale will also be donated to Lennon’s White Feather Foundation.
It is no surprise that the latest auction of Beetles memorabilia comes in the form of an NFT, considering the popularity the asset class has gained in the past months. NFTs have become so viral, that they have attracted the attention of companies such as Meta — now working on an NFT integration for Facebook and Instagram — and Samsung, which revealed that three of its incoming smart TVs will have an NFT discover, buy, and sell feature.
- Users of Binance NFT can now use select blue-chip NFT collections as collateral to take out cryptocurrency loans.
- The platform will initially support only loans in ETH, and NFT collections Bored Ape Yacht Club, Mutant Ape Yacht Club, Azuki, and Doodles.
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- The Binance NFT marketplace said it will soon expand its multichain ecosystem, and add support for Bitcoin Ordinals, which are also known as Bitcoin NFTs.
- The platform said it will allow users to purchase and trade Ordinals directly from their Binance accounts, bypassing the need to create a separate inscription wallet.
- Magic Eden’s “fully audited” Bitcoin Ordinal marketplace will only support secondary sales of Bitcoin NFTs, though it is looking into tools to allow for easy mint of such collectibles.
- Royalties will also be unavailable from the start due to the lack of tooling on the Bitcoin network, but the marketplace is “actively looking” into the development of a new royalty standard.