MarTech Series – Marketing Technology Insights
NFT Technologies Inc., a leading technology company mainstreaming decentralized ownership, NFTs and the metaverse for public markets, sets a brand new precedent with the launch of the Elvis Legacy Council.
The project will be officially launched under the brand “The Elvis Legacy Council”, project highlights include an extremely limited NFT collection, officially licensed digital wearables and collectibles, unique metaverse experiences, exclusive in person Graceland tours, Memphis experiences, and many more!
“The Elvis Legacy Council will ensure that The King of Rock and Roll’s legacy lives on, pushing past boundaries set by time and space,” says Adam De Cata, NFT Tech CEO. “It’s giving Elvis fans a new voice, verified on-chain, in shaping the continued legacy
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The Elvis Legacy Council is the governing body that will make key decisions on the future of Elvis’ digital estate, both on the blockchain and in the physical realm. The Council, which is the first of its kind, provides fans the ability to create proposals and vote on ideas of others on what the future of Elvis will be!
NFT Tech’s rights agreement with Elvis Presley Enterprises, Inc. grants the Company the ability to showcase licensed content globally, and grants access to Sony Music, Universal Music Publishing Group and Warner Bros. Pictures, amongst others.
The market for legacy IP of celebrities that have passed away is valued at over $2 billion per year. The Elvis estate generated $30 million in 2021 even before Warner Bros summer blockbuster film. “Sadly, there’s a growing list of celebrities who leave behind a massive fanbase, often stopping any creation of new material fans can interact with. Brands often see a slow decline in engagement every year. By moving these brands to web3 we can ensure the creativity lives forever and is secured by blockchain technology. Investors can anticipate the company to take a larger step into this industry, working with other entertainment icons.” said Adam De Cata.
In the current landscape of legacy IP. Fans are fragmented and unable to pool resources for shared goals. Despite limited influence over decision-making and limited access to the brands’ content, fans end up paying recurring fees within a complex, opaque system of IP rights. Most legacy IPs are currently maintained by a number of private collections that are limited to physical exhibitions, which cannot be shared with fans at scale.
“The Elvis Legacy Council will ensure that The King of Rock and Roll’s legacy lives on, pushing past boundaries set by time and space,” says Adam De Cata, NFT Tech CEO. “It’s giving Elvis fans a new voice, verified on-chain, in shaping the continued legacy of Elvis in perpetuity for future generations to enjoy.”
This project sets precedents in the web3 space by giving every founding member key decision-making power through the Elvis DAO (Decentralized Autonomous Organization). Founding members have governance rights to make proposals for Elvis content. For many fans, this is a rare opportunity to see lost Elvis footage and come into contact with rare Elvis memorabilia.
“Imagine a Founding Member proposing we purchase rare 8mm footage of behind-the-scenes footage of ‘Elvis On Tour.’ This proposal could get upvoted, procured, then showcased with the world in the biggest watch party in the metaverse. The opportunities for fans to engage with never-before-seen content at scale is huge,” continues Adam.
“Elvis’ legacy will endure on the blockchain long after we pass, including the NFT metadata and future DAO achievements,” says Adam. “This allows, for example, anyone to take the code to ‘recreate’ the smart contract and revive the project at any time.”
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MarTech Series – Marketing Technology Insights