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What Happened: Rolling Loud, the world’s largest rap festival, announced its 10,000 piece NFT collection LoudPunx. The collection grants holders access to Rolling Loud festivals across the globe––for life. The announcement comes after Rolling Loud Miami, the festival’s flagship event. This year, the music festival is expanding to Toronto this September and has hosted new events in both The Netherlands and Portugal. Next year, Rolling Loud plans to expand its festival presence to Thailand. With rapid expansion, LoudPunx NFTs offer more utility, as holders can attend all the aforementioned festivals for free.
The non-fungible token collection features profile picture NFTs taking inspiration from the massive figurines displayed at Rolling Loud festivals. Additionally, holders will be granted priority access to future metaverse and Web3 initiatives taken by Rolling Loud. The team will also be making exclusive LoudPunx lounges at select festivals, as well as a specific line for holders of the collection to enter the festival quickly.
Why It Matters: Founded in Miami by 5-time Billboard Hip-Hop Power Players Matt Zingler & Tariq Cherif, Rolling Loud has grown into a global festival phenomenon, hosting shows across the United States and now in multiple countries. Rolling Loud recently hosted its biggest event to date in Miami, headlined by Kid Cudi, Kendrick Lamar, and Future. The festival’s busy 2022 continues in September, with the first ever Rolling Loud Toronto, headlined by Future, WizKid, and Dave, and Rolling Loud New York, headlined by Nicki Minaj, A$AP Rocky & Future.
While the NFT markets have been in the gutter recently, most collections have suffered due to their highly speculative value. However, LoudPunx offers clear, valuable utility that few other collections are able to offer. With access to music festivals for life, concert goers can easily receive thousands of dollars in value from their LoudPunx, each and every year.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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