LIRIK announces NFT collection, receives backlash

Throughout a Twitch livestream yesterday, selection streamer LIRIK mentioned his plans to launch a set of NFTs on the Ethereum blockchain. With over 2.8 million followers on Twitch alone, LIRIK’s viewers shortly grew to become polarized on his involvement within the NFT house.

“I’m doing a private NFT assortment with individuals from my neighborhood,” LIRIK mentioned.

Digital artwork on the blockchain has turn into one other avenue for Twitch streamers and influencers to additional monetize and broaden their model presence. LIRIK believes NFTs could also be beneficial digital property sooner or later, citing current hype round a metaverse and the way forward for gaming.

The streamer clarified he’s not collaborating with any clip-related NFT websites resembling MyClipsTV, which not too long ago shut down because of copyright points. However many viewers spammed “rip-off” in his chat, accusing the streamer of swindling his followers. LIRIK was fast to refute the allegations and clarified his plans for the NFT assortment.

“I’m not selling a rip-off website…that is actually going to be offered off my web site,” he defined.

On the value factors for his upcoming NFT launch, LIRIK said there will likely be 10,000 NFTs minted, and each will likely be priced at $50. He in contrast the value level to purchasing a shirt from a merch retailer.

The sudden and intense backlash in response to LIRIK’s NFT assortment has made the streamer probably rethink his plans, nonetheless.

“Apparently there’s fucking blood within the water on NFTs,” LIRIK said.

NFTs, or non-fungible tokens, are tokens that exist on a blockchain resembling Ethereum, the place digital “good contracts” confirm the token’s distinctive id. As a result of every NFT has a novel id on the blockchain, they are often distinguished from different NFTs by way of blockchain expertise, even when they seem the identical.

In impact, NFTs are a manner for digital artwork lovers to confirm the authenticity of a picture they’ve bought. NFTs are sometimes launched, or minted, in batches, just like how work might be launched in a numbered collection.