To "eternalize" Marilyn Monroe's legacy, the NFT Artwork Auction will auction off "Marilyn Monroe Metamorphosis," a curated collection of non-fungible tokens.
An auction of tokenized artworks inspired by Marilyn Monroe will be held by Authentic Brands Group (ABG), according to an announcement.
ABG, a brand management business that controls the majority stake in the intellectual property rights of legendary American actress, model, and singer Marilyn Monroe, has teamed with Ethernity Chain to “eternize the star's legacy” in the form of non-fungible tokens (NFTs). They are also the official licensor of other renowned people such as Muhammad Ali, Elvis Presley, and others.
Digital ownership certificates can be generated using NFTs. ABG's NFT collection will include the work of several artists. The tournament kicks off today at 12 p.m. EST.
Over the last half-century, Monroe's image and intellectual property have generated millions of dollars in profit for its lawful owners without the need for NFTs or blockchain.
Last year, she was reportedly the 13th highest-paid dead celebrity—and the only woman—on a list that also included George Harrison, Freddie Mercury, Prince, John Lennon, Bob Marley, Juice WRLD, Kobe Bryant, Elvis Presley, Arnold Palmer, Charles Shulz, Dr. Seuss, and Michael Jackson.
According to several accounts, ABG holds just 75% of Marilyn Monroe's intellectual property, which it purchased in 2011 from Anna Strasberg (Mizrahi), the second wife of Monroe's acting coach Lee Strasberg.
Monroe's therapist, Marianne Kris, received the remaining 25%, which was eventually donated to the Anna Freud National Centre for Children and Families in London, created by Sigmund Freud's daughter.
ABG has not stated how the revenues of the NFT auction will be dispersed. In late April, photographer Jesse Frohman launched a similar auction with a deceased celebrity, selling the last known photoshoot of renowned Nirvana vocalist Kurt Cobain as NFT.