The 98-year old Hollywood Sign is getting a very 21st century treatment: an NFT.
Sugar23, the company launched by Oscar-winning producer Michael Sugar, has partnered with the Hollywood Chamber of Commerce to launch an official digital art non-fungible token of the world famous structure.
The project is in the early stages with no creative talent or artists involved. The next step is to find an artist or filmmaker to create an NFT to remember. No specifics were announced but a sale in the summer is the goal.
Proceeds of the sale will benefit the charitable initiatives undertaken by the Chamber, such as homelessness, education, diversity, and inclusion through their Hollywood Chamber Community Foundation.
The hope is that the Sugar23-Chamber of Commerce partnership will open the door to other collaborations and other charitable endeavors,” said Sugar in a statement. “As storytellers who recognize the power of social impact, we’re committed to exploring all types of global opportunities and are excited by the potential of NFTs to transform the creative landscape. When we thought about what could be the most iconic opportunity possible, we naturally thought of the most iconic image in the world – the Hollywood Sign – and are thrilled to announce our partnership with the Hollywood Chamber of Commerce. We see this as a unique opportunity to do something good for the city, by the city, and with the city of Los Angeles, and what better way to give back than by raising money for those who need it most.”