Katy Perry to launch NFT collectibles, acquires stake in Theta Labs

American pop singer and songwriter Katy Perry has announced to launch non-fungible tokens (NFTs) for fans in partnership with the blockchain-based video content service provider Theta Labs.

The artist has also acquired a minority stake in the Theta Labs, along with Creative Artists Agency (CAA), which has joined Theta last month to help with governance and validation of its blockchain-based video delivery network.

Theta Labs is developing a blockchain-based video distribution service called Theta Network and a decentralized live streaming platform called THETA.tv.

The company also recently launched ThetaDrop, an NFT marketplace for buying and selling digital collectibles.

Perry’s first digital collectibles will be from “Play”, a 16-show musical residency concert, which starts from December 29 of this year at the Resorts World hotel in Las Vegas, in collaboration with Theta Labs.

Currently, ThetaDrop’s website shows a pre-registration for the concert and NFTs commemorating the events, which will be available from the last quarter of 2021.

“This is a new, unique opportunity to connect with my fans around the world even if they aren’t with me in Las Vegas. I can’t wait to dive in with the Theta team on all the exciting and memorable creative pieces, so my fans can own a special moment of my residency that’s both a digital collectible as well as an IRL experience,” Perry said.

The Grammy-winner artist’s “Roar” and “Dark Horse” videos have recently surpassed three billion views, making Perry the first female artist to reach this milestone.

“With the help of CAA and Katy’s management team, we’re charting a course towards reaching well beyond crypto enthusiasts to millions of music, media and entertainment fans around the world,” Theta Labs co-founder and CEO Mitch Liu said.

Picture Credit: Coindesk