After Biggie Smalls’ murder two and a half decades ago, the rap icon’s estate is ready to celebrate his legacy in a new way – through NFTs.
In collaboration with company OneOf, Biggie’s estate is behind this latest collection of commemorative non-fungible tokens. This digital token is also growing in popularity among celebrities. As a result, the Notorious B.I.G’s estate wanted in on the trend as well.
The East Coast rapper’s mother, Violetta Wallace, also released a statement on behalf of his estate. “We are excited about our partnership with OneOf and their expertise to memorialize my son Christopher.”
This news comes mere months after Tupac’s estate announced their NFT drop back then.
What Are NFTs, And Why Are They Controversial?
An NFT, or non-fungible token, is a unique, digital representation of a real-world item. In other words, non-fungible tokens, unlike other forms of non-fungible things, are irreplaceable.
Typical forms of NFTs include music, memes, and digital art pieces. Consumers often pay for these tokens with cryptocurrency like Ethereum. Instead of a physical receipt, the proof of purchase gets stored in a blockchain, a digital ledger used to keep any kind of online data.
The reason NFTs are so polarizing? They are allegedly bad for the environment. Most people buy NFTs using Ethereum, which takes up massive energy. Essentially, blockchain transactions must be verifiable, and users must jump through hoops to ensure the validity of their purchases.
This is referred to as ‘mining,’ which uses a concerning level of electricity. Based on the negative environmental impact cryptocurrencies like Bitcoin have, experts can infer that the level of carbon emissions of NFTs will affect the earth’s temperature. Regardless, this information doesn’t seem to be slowing down the popularity of NFTs.
As of now, there is no set release date. Violetta Wallace said she hopes this drop will “give his fans the opportunity to participate and honor their love of him and his music.” Biggie would’ve turned 50 years old this May.