Lindsay Lohan is providing some tips on how to cash in on the NFT craze.
Simply put, NFTs, known as non-fungible tokens, allows buyers to exercise sole ownership over a unique piece of digital media, such as individual songs, videos and images.
The Mean Girls star recently cashed in on the craze by turning her new single “Lullaby” into an NFT, which sold for $85,000.
Speaking with Interview magazine, Lohan, 34, provided a seven-step plan telling others how to make money off the craze, which she believes will be around for a long time.
The first piece of advice concerns creating a marketable NFT. “I believe that what makes a great NFT is creating something that tells a story through a new medium,” she says, “and tell them in ways that are more authentic.”
Lohan also lays out the more technical steps of creating an NFT, from how to properly mint a piece of work to properly securing it and the money made off of it.
As for how to make money, the Freaky Friday star says in step six, “There are various ways to do it, but the best way to get discovered is to build a community from day one involving your creative persona. Give people something more than just an NFT.”
“Access to a stronger creator-and-buyer relationship is key,” stresses Lohan.
The actress also explains that building a community provides more “selling power,” which can later be used to “empower other smaller artists, thereby keeping the cycle going.”
The highest-selling NFT to date belongs to an artist known as Beeple, who sold his digital artwork for a resounding $69 million.
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