In brief
Celebrity video app Cameo is launching an Ethereum NFT membership pass.
Cameo Pass holders will gain access to various benefits, such as exclusive events.
Cameo, a popular app that lets people buy personalized video messages from celebrities and online influencers, is getting into the NFT space. Today, the firm officially unveiled Cameo Pass, an Ethereum NFT that works like a ticket to unlock exclusive experiences and perks.
Launching on February 17 via leading marketplace OpenSea, the Cameo Pass will sell for 0.2 ETH ($528 at present) and serve as an access pass to Cameo’s new membership club. The passes feature new artwork from Doodles artist Burnt Toast, NFT artist Vinnie Hager, and cartoonist Luke McGarry, who already sells artwork via Cameo.
Cameo Pass NFT holders will unlock access to future live and online events, including parties at the Cameo House in Beverly Hills, meet and greet opportunities, and online Q&A sessions with celebrities. The startup will also offer up exclusive merchandise, along with access to a Cameo location that will be built in a metaverse world.
According to a company representative, Cameo will reinvest funds from the NFT sales into future Web3 efforts and explorations as the company embraces fan-centric experiences that are backed by decentralized technology.
Cameo was founded in 2017 and reached unicorn status last year, when it was valued at $1 billion following a $100 million Series C round. The platform features thousands of celebrities, athletes, and public figures from the worlds of entertainment, sports, politics, and more.
An NFT works like a deed of ownership for a digital item, and popular use cases include digital illustrations and videos, social media avatars, and interactive items that can be used in video games. The market exploded last year, generating nearly $25 billion in trading volume (per DappRadar) as brands, celebrities, and athletes rushed in.
Increasingly, as NFT projects adopt increased utility, the digital assets are being used like a membership pass to an exclusive club—or even to gate real-world experiences.
For example, the Coachella Valley Music & Arts Festival announced this week that it will sell lifetime passes as Solana-based NFTs. Adidas recently launched Ethereum NFTs that enable holders to snag exclusive merchandise, and The Gap has done the same on Tezos.
The biggest crypto-native example is the popular Bored Ape Yacht Club project—a valuable favorite of celebrities—which treats itself as an exclusive club. Bored Ape NFT holders earn access to a private online community, exclusive merchandise drops, additional free NFTs, and even live events, such as a New York concert featuring The Strokes and Chris Rock.
Source: https://decrypt.co/91956/cameo-lethereum-nft-pass-expanded-celebrity-access
