RedFOX Labs, a prolific Southeast Asian venture builder, has joined forces with Miss Universe Philippines in making history as the world's first-ever beauty pageant to drop an NFT collection.
The Miss Universe-Philippines NFT collection will be released on September 24, 2021, and will be available for purchase using the RFOX token via MetaMask or Uniswap.
NFTs, or non-fungible tokens, are digital assets that can represent a wide variety of real-world concepts such as ownership over one-of-a-kind art, videos, in-game items, and other collectibles.
By partnering with Miss Universe-Philippines, RedFOX Labs has made it possible for fans to own unique digital collectibles of their favorite candidates in the form of NFT cards, which showcase the top 30 beauty queens in their glory.
These prized collector’s items have a limited supply of 9,900 units in total, which consists of 4 unique NFTs for each of the top 30 candidates that come in various degrees of rarity including Common (6000 units), Uncommon (2700 units), Rare (900 units), and Mythic (300 units.). These NFT cards can be stored, traded, and sold just like physical assets, which allows owners to earn from their proceeds.
In the world of emerging technology and digital assets, this is bringing the future of the digital economy closer to every Filipino in an accessible and relatable way.
This is also a welcome addition to the growing global adoption of NFTs, which, in recent times, have been dominated by celebrities and household names minting their own non-fungible tokens.
In just a span of a few short months, NFTs went from being the stuff of sci-fi dreams to having real people making, selling, and buying them at eye-watering amounts.
During an auction in March, Christie's sold Beeple's digital artwork "Everyday's - The First 5000 Days" for $69.3 million - putting the spotlight on what NFTs can do for both creators and collectors.
Several notable names have also jumped in on the NFT craze by creating and releasing their own NFT collections. Aside from empowering creators to earn staggering amounts from the proceeds of their sales, NFTs have also paved another way for people to easily raise funds for charities and other advocacies.
Pop culture icon who is no stranger to the NFT space is "Mean Girls" star Lindsay Lohan, who minted and auctioned her first-ever NFT called "Lindsay Lightning Lohan" for $50,000 and donated the proceeds to charities that accept Bitcoin.
Popular talk show host Ellen DeGeneres has made her mark in the space by auctioning her first NFT, consisting of her own explanation of the asset on her show and an actual drawing of a cat she made. The collection netted DeGeneres $33,495, which she donated to food-relief organization World Central Kitchen.
As one of the world's most iconic rappers and enduring artists of his time, Snoop Dogg's story has the perfect mix of grit and talent to make for an NFT worth collecting. And this he did with his NFT collection called "A Journey with the Dogg", which he auctioned off. Parts of the proceeds were donated to emerging youth artists and Snoop's Youth Football League.
Lastly, if there’s one thing that Miss Philippines shares with legendary boxer and Philippine politician Manny "Pacman" Pacquiao, there’s no need to look further than NFTs.
The incumbent senator has recently released his own NFT collection, with artist Rikognition explaining that the piece is inspired by Pacquiao's career, where “a moment in time can feel both fleeting yet lasting an eternity."
As support for NFTs grows exponentially over the last few months and big names like Paris Hilton, Lindsay Lohan, and Manny Pacquiao put the spotlight on its potential, Redfox’s partnership with Miss Universe Philippines is just the start in paving the way for people, regardless of background, to experience firsthand what NFTs can do for them.