The industrial/techno acid-house band Lords Of Acid has dropped an NFT on the Cardano Blockchain. The Children of Acid coin, a cartoon homage to the 1964 sci-fi movie “Children of the Damned”, depicts what the band calls ‘angelic school children with a psychedelic gleam in their single-eyes’. The kids are part of the band’s fictional universe of kinky songs and characters.
The illustration was designed to have thousands of versions (with different backgrounds, hair colors, clothes, etc.) so that each one is a totally unique, one-of-a-kind work of art. All of the 2000 coins are now sold out.
For the NFT the band worked together with KKryptowave, aka Karl Kotas, a digital artist who has created art, videos and games for Lords of Acid for over a decade.
In a reaction Praga Khan says: “I’ve always been interested in the newest stuff and I was really intrigued by the concept of NFT’s. So I thought of Karl immediately, as we worked together years ago on a CD cover and game and I loved it. So it was a no-brainer.” Praga adds that the next step is to add music to the NFT’s, but new versions of tracks which haven’t been released before.”
Karl from his side says: “An absolute no-brainer… I was going to contact Praga but I held off. A few days later he contacted me. So I knew we were both on the same page.”
The platform used is the Cardano Blockchain via Digital Syndicate.
What is an NFT?
A non-fungible token (NFT) is a unique and non-interchangeable unit of data stored on a digital ledger (blockchain). NFTs can be used to represent easily-reproducible items such as photos, videos, audio, and other types of digital files as unique items (analogous to a certificate of authenticity), and use blockchain technology to establish a verified and public proof of ownership. Copies of the original file are not restricted to the owner of the NFT, and can be copied and shared like any file.
The lack of interchangeability (fungibility) distinguishes NFTs from blockchain cryptocurrencies, such as Bitcoin.
The first NFT project was launched in 2015 on the Ethereum blockchain, and interest grew with the rise of interest in cryptocurrencies. In 2020, the NFT market value tripled, reaching more than $250 million. During the first quarter of 2021, sales exceeded $2 billion, more than 20 times the volume of the previous quarter.
NFTs have drawn criticism with respect to the energy cost and carbon footprint associated with validating blockchain transactions.
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