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Playboy stated that it would learn, innovate, and support the community as it is entering into the NFT space.
American men’s lifestyle and entertainment magazine Playboy is launching an online art gallery in the form of non-fungible tokens (NFTs). Playboy announced its NFT gallery in a tweet posted on the 6th of April. In the tweet, the American magazine said it has partnered with digital art platform Nifty Gateway on the launch of the NFT art gallery.
Playboy to Join NFT Craze
Playboy’s announcement came at a time when there is a buzz around the NFT world. Several sectors, such as sports, have started engaging in NFTs. Gucci recently said in an interview that it is about to debut into the NFT space. Gucci said that it is “only a matter of time” before the luxurious brand steps into the NFT world. Apart from Gucci, Vogue Business said it confirmed that several luxury fashion houses are also looking into releasing NFTs.
As the NFT trend continues, Playboy explained on Twitter:
“Our entry into NFT art builds on Playboy’s long history of providing a platform for artists and creative self-expression. Coming soon will be our first artist collaboration with @grimemonday that will feature a collection of new original worlds that use incredible imagery and inspiration from our archive.”
In addition, Playboy revealed that it had partnered with a multidisciplinary designer focused on illustration, iconography, and branding Blake Kathryn. According to Playboy, the partnership is for the company to participate in Blake Kathryn’s upcoming Pride-themed curation, scheduled for June.
Furthermore, Playboy said that its launch would feature curated NFT art collections. As noted by the entertainment magazine, the art collections span across a “nearly 70-year archive of art and photography.”
Speaking further, Playboy said a piece of the company’s work would be supporting artists as collectors and through upcoming grants. The company stated that it would learn, innovate, and support the community as it enters into the NFT space.
The chief brand officer, Rachel Webber, told Business Insider:
“We see the digital asset revolution as an enormous business opportunity. We see huge growth potential in integrating token into our streetwear business, our live experiences, and events creating a social token economy with our network of talent.”
Playboy magazine got a beneficial rebranding after the family of late Hugh Hefner, the magazine’s founder, sold its last shares in Playboy Enterprise. Since the family sold the shares in August 2018, Playbook Magazine has grown with young editors helping with the rebranding.
Also in 2018, Playboy announced that it was integrating crypto payments with its Playboy TV web. At the time, the magazine said that customers would be able to pay for adult content with a number of cryptocurrencies. At the same time, customers who pay with crypto will be able to earn tokens to access Playboy TV’s original content.