London, United Kingdom, May 17, 2021 — Fomo Lab is partnering with PVLACE of 808 Mafia and Gunboi to drop their “For The Culture” collection on Fomo Lab’s own NFT platform, The Avenue. This collection will contain 387 intrinsically rare collectibles of music in the form of “mystery boxes” by PVLACE and Gunboi, who are multi-platinum, billboard chart-topping, industry-leading producers who have made music for some of the biggest names in hip-hop history, including Wiz Khalifa, Migos, Future and many more. The “For The Culture” collection will be launched on The Avenue on May 31.
The landscape of entertainment media is evolving, and PVLACE’s NFT team is the first to ever integrate hip-hop culture with crypto culture in a gamified fashion by including 3D avatar characters each paired to 1-of-1 production composed by top industry producers. They have recently produced music for Young Thug, whose most recent album, Slime Language 2, debuted at number one on the “Billboard Albums Hot 100,” and are now working closely with Fomo Lab to release their collection to make it accessible to more audiences.
The “For The Culture” collection is set to include 387 unique nonfungible tokens varying from exclusive items to exclusive avatars, all of which will include exclusive music and instrumental compositions. The essence of this collection is that the producers are selling the full rights to the music through NFTs, which is the most seamless way to transfer rights. The music on each NFT will range between two to five minutes long, along with one-of-a-kind avatars of celebrities and other various items.
Tchakalla Romeo — aka Gunboi, the music producer — said:
“Every collectible is an homage to how we felt when we were younger, and Fomo Lab understands and believes in that, too. This culture is meant to be a comprehensive examination of hip-hop in all forms.”
Fomo Lab CEO and co-founder Pixasso stated:
“We are very excited for this collection to launch, as it also really resonates with all of us at Fomo Lab being hip-hop fans ourselves. The fans will love it, too. It is also a seamless way to change ownership to be more in line with the content creators’ vision. We have a lot of really cool NFTs coming to The Avenue, but we’re thrilled this is our first one.”
Each NFT will be sold at an even price of 2 Binance Coin (BNB) (no more than $1,400), wherein the traditional music industry market it would sell for over $20,000. This is because they believe that hip-hop was always “for the people,” which is in line with their vision; their goal is to make these memorabilia accessible to everyone while expanding the ecosystem. The music in each NFT is made by the same creators who produced music for top major label artists, such as Future, Migos, Chris Brown, Young Thug, Lil Baby, Juice WRLD and Wiz Khalifa, among many others, ensuring the value of these NFTs.
About Fomo Lab
Fomo Lab is the leading platform revolutionizing the way nonfungible tokens are used. The platform can be used for storing, curating and exchanging one-of-a-kind digital collectibles and NFTs built on the Binance Smart Chain. The native token, FOMO, will be used as the platform’s payment method and to reward buyers and sellers on all transactions. The platform is centered around the theme of celebrities, artists, musicians and athletes, auctioning physical and digital assets with a mission to pioneer mainstream adoption. For more information about Fomo Lab, visit https://fomolab.io/.