According to recent reports, Mike Shinoda has just auctioned off his first-ever non-fungible token (NFT). It has been confirmed that Mike has carried out the auction of the non-fungible token (NFT) for a charitable cause.
Mike Shinoda is a musician, a guitarist, and a founding member of one of the most popular American rock bands ‘Linkin Park’. It was back in July 2017 when the lead singer of the Linkin Park band ‘Chester Bennington’ had committed suicide.
It has been revealed that the NFT auctioned off by the rockstar is titled “One-Hundredth Stream”, which is a piece of digital media. The auction platform has confirmed that the digital media title was sold for more than $30,000.
Mike Shinoda also kept in touch with all his fans and followers through Twitter during the auction process for the NFT. He confirmed through his Twitter platform that the NFT he had created was sold for more than $30,000.
Shinoda revealed that the money raised from the NFT auction will go towards the Michael K Shinoda Endowed Scholarship program. The program has been dedicated to the Arts Center College of Design. The program is set to benefit the students at the college based on their financial needs and artistic merit.
As for the NFT, it was a piece of digital media that was titled ‘One Hundredth Stream’. The NFT features an animation that is 37-seconds long and has the music composed by Mike Shinoda running in the background.
The name of the exchange site responsible for uploading the digital media title piece is Zora. The Zora platform is popularly known for carrying out selling, buying, and trading of goods and arts that are of limited-edition.
The non-fungible tokens are a unique and extraordinary product that has been launched in the crypto-blockchain verse. These coins are nothing like Bitcoin (BTC), Ethereum (ETH), or altcoins when it comes to trading. The NFTs are based on a particular blockchain network and cannot be interchanged between the blockchain. They can neither be exchanged with any other NFT or cryptocurrencies.
This is the reason why the NFT are being developed and launched on a very large scale since 2020 in the digital artwork and media sector. Ever since its launch, the product has been widely adopted by different sports, gaming, music, and artwork entities.
The NFTs have started gaining a lot of adoption and success in the music and artworks industry. When it comes to music, many rappers, hip-hop singers, and DJs from around the world have launched their own NFTs.
One of the most popular NFT platform currently known around the world is Sorare. It is an online football game that allows users to collect unique and rare cards for the football players.