Between March 31 and April 3, there will be a massive party in the sun-soaked paradise Cancun featuring DJ Tiesto. However, this is no ordinary party; this is organized and hosted by an NFT collective. Party Degenerates is a collection of 10K NFTs representing “the rebellious spirit of those who choose to celebrate life.” The event is entitled Tiësto: The Trip. What makes this special is that Party Degenerate token holders will unlock privileges, special access to experiences including a special bottomless VIP brunch hosted by Tiësto, exclusive sunrise to sunset beach parties and admission to all performances.
Other artists performing at the event include ACRAZE, Joel Corry, Kiko Franco, KSHMR, Ship Wrek, 2AR, ANG, Dombresky, Luis Torres, Ms Mada, Natalia Roth, Sofi Tukker, Tini Tun, VER: WEST, Callie Reiff, Loud Luxury, Max Styler and Morten.
Who are Party Degenerates?
Party Degenerates are a collective of NFT collectors whose first drop in October of 2021 raised a remarkable $23.5 million in just 24 hours. The goal of the project is to add utility to NFTs. The tokens act as a membership card to the group, and token holders are referred to as ‘members’. Party Degenerates have held members’ events with the likes of Diplo, Marco Carola, Dillon Francis, Damian Lazarus, Jauz, me b2b Dixon, Guy Gerber, Anfisa Letyago, BLOND:ISH, Seth Troxler, Kaz James, Gab Rhome. According to the team, both Gary Vaynerchuck and Steve Aoki are collective members through token ownership. The current floor price of Party Degenerates NFTs on OpenSea is 0.21 ETH with 3,600 owners. This makes the membership fee fairly steep but cheaper than most country clubs.
SEEDPHRASE, an NFT collector, DJ and co-founder of Party Degenerates, said,
“We’re incredibly excited to connect Party Degenerates with one of the world’s greatest DJs, Tiësto; the metaverse pioneers The Sandbox; NFC; and Pollen, a curator of unforgettable experiences.”
After the Tiesto trip, Party Degenerates then move their party planning skills online. They are hosting the afterparty for The Sandbox “Jungle Afterparty” at Non-Fungible Conference in April. The two-day event will consist of talks, seminars, workshops and experiences bringing together artists, projects, platforms, collectors and investors from the global NFT community. Sorare, World of Women, The Sandbox, Screenshot, VeeFriends and NonFungible.com will speak at the event.
The utility of NFTS
Adding real-life utility to NFTs has been on the cards for a long time. Most famously, Gary Vaynerchuck’s VeeFriends gives holders access to events, mentorship and other real-world rewards. Much has been said about how NFTs can change the music industry, but it feels like they are dragging their heels to adapt. It’s great to see independent artists and NFT enthusiasts taking the initiative to use the tools they know to bring music into the 21st Century. Earlier this year, rapper Nas sold royalty rights to two of his songs via NFT platform Royal.io. Other artists are also selling their work under the motto of “Invest in artists. Own your favorite music”, and they mean this literally.
The critics of NFTs claim that they are overpriced JPGs. Those who understand the technology realize that the potential is far beyond the art the data written to the smart contract represents. Automated contracts of assets that are non-fungible open up a world of opportunities for creatives all around the world. Creating a legal and technological infrastructure to do what can be done with a few lines of code in solidity would be beyond the ordinary person’s reach. NFTs are bringing down the barriers to autonomy for creators. We are just at the dawn of this era. Hopefully, the stereotype of the starving artist will be a thing of the past, and we can thank NFTs for the creative revolution.