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Tuesday, January 31, 2023

Music History Collection of the Beatles and John Lennon to be Auctioned as NFTs

Julian, John Lennon’s eldest son, is selling some of the rarest pieces from his private collection.
John Lennon’s coat worn in the “Magical Mystery Tour” film, his cape from “Help!,” three guitars and Paul McCartney’s handwritten arrangement notes for “Hey Jude” are some of the most sought after memorabilia from music history up for nonfungible token (NFT) auction.

The NFT series, “Lennon Connection: The NFT Collection,” opened for bidding on Monday and will begin on February 7 in collaboration with NFT marketplace YellowHeart and Julien’s Auctions. NFT will donate a portion of the proceeds from the auction to Lennon’s White Feather Foundation.

Julian would keep the original physical items, and the buyer would acquire the rights to the NFT. Every NFT in the collection would be offered as an audio-visual collectible, narrated by Julian Lennon himself.
Paul McCartney’s handwritten note for Hey Jude is expected to attract the highest bid. An asking price of $30,00 is set for the NFT.

Previously, Julien’s Auctions has sold other Beatles memorabilia for millions of dollars. Some of the most notable items include one of John Lennon’s acoustic guitars that fetched $2.4 million, Ringo Starr’s drum kit was sold for $2.2 million, the drum head Ringo used for the “Ed Sullivan Show” in 1964 was sold for $2.1 million.

NFTs have become the latest trend in crypto and many believe it would disrupt the art industry. Mainstream artists and celebrities have ditched traditional auctions for NFTs as it has become the latest trend in the art industry.

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