The famous Montreux Jazz Festival is the latest entrant into the world of NFTs.
The venture will see five artworks by French artist Greg Guillemin go on sale, each animated design representing an artist from the 56th edition of the Festival.
The scheme is run in a new partnership with the American platform OneOf.
Non-fungible tokens, or NFTs, are unique and scarce pieces of digital media and art that are established on a blockchain. Blockchain technology means that the origin and ownership of NFTs can always be proven.
Rising to public prominence in the last few years, NFTs have taken the art world by storm since the record sale of digital artist Beeple’s work ‘The First 5000 Days’ for $69 million. The tech phenomenon has also shown up in the wine industry,sporting world, gambling, and ballet.
Montreuz Jazz Festival and NFTs
Montreux Jazz Festival’s foray into the arena is, they say, a continuation of their innovation in the area of audiovisual technology.
“Innovation has always been at the heart of the Montreux Jazz Festival,” says Nick Bonard, CEO of Montreux Media Ventures.
“NFTs will offer us the opportunity to support and collaborate more closely with artists in a more sustainable way.”
For its first experience in the world of NFT, the Festival has chosen to focus on the visual arts, drawing on a long tradition in this field with its legendary posters, created by Keith Haring, Niki de Saint Phalle, Jean Tinguely and David Bowie.
A collectible NFT of the 2022 Festival poster, designed by Camille Walala will be offered free of charge to anyone who registers on the OneOf platform.
The festival takes place every year in Switzerland and this year boasts performances from Nick Cave and the Bad Seeds, Bjork, and John Legend.