Fall Out Boy NFT. What Happened?
In January, news of a Fall Out Boy NFT dropped. What happened next?
Fall Out Boy is a world-famous band out of Chicago that has featured in its line-up Pete Wentz, Patrick Stump, Joe Trohman, and Andy Hurley. On January 7, the official Twitter feed shared a Fall Out Boy NFT. The tweeted image depicted the band members with invisible faces. The Fall Out Boy image was developed by Invisible Friends, a well-known NFT creator with a significant following.
The official page of Invisible Friends was also tagged in the Fall Out Boy post. The title of the NFT artwork was given as "We're Feeling Invisible".
Given the band's international fanbase, it was no surprise that the tweet quickly went viral. However, responses were mixed. Many focused on plans for a new album, not the Fall Out Boy NFT. Others were unhappy with the group's first foray into the NFT market.
Twitter users Alex said, "Sugar, We're Letting Fans Down," to which 2.8K people agreed. Another user, Fin, expressed worry about the carbon emissions associated with NFT minting and advised that Fall Out Boy make a new album instead of entering the NFT arena. The NFT space is in its infancy and is a highly speculative asset. It can be impacted by those with a large number of followers, such as Fall Out Boy.
Invisible Friends already had a substantial following - 200k on Twitter and 600k on Discord - and you might have thought it couldn't get much bigger. However, the Fall Out Boy NFT tweet sent Invisible Friends fans into a frenzy.
Invisible Friends excel at two things: art and community. These two factors significantly impact the volume traded in a collection. Despite the stunning visuals and engaged fans, the initiative lacks a plan. Nonetheless, it is one of the most anticipated drops.
Markus Magnusson, an animator and illustrator, produced the 5,000 animated NFTs in the Invisible Friends NFT collection. The artworks are basic and eye-catching based on some of the sneak peeks the team offered on Twitter.
Moreover, the fact that a respected animator like Magnusson is working on the characters adds to the excitement. He has 188,000 Instagram followers and has already sold numerous NFTs. One famous example is the Invisible ghost buddy guy, which sold for 4.8723 ETH (about $18,600) last October.
Author: Emmanuel Baiden
7 years experience within the financial services sector most notably in Sales, Trading, research and writing articles within the crypto space. I have a bachelor's degree in International Business and a Master's in Investment and Risk Finance . I am also an associate member of the Chartered Institute for Securities and Investment.